Solar Panel Cost Guide in Wichita Falls, TX (2023 Update)
- Wichita Falls Solar Installation Cost: $14,010
- 25-Year Savings: $23,178
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Wichita Falls
Here's how much it might cost to make the switch to solar in Wichita Falls.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wichita Falls, the typical cost of a solar system is 2.69 per watt. The average Wichita Falls homeowner needs a 7.4-kilowatt system, which would cost about $14,010 with the federal tax credit, or $20,034 before the 30% tax credit is applied.
The true cost of your system can be above or below the average in Wichita Falls based on several factors, such as the brand of solar panels you choose and the solar contractor you hire. With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Wichita Falls find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar installer in Wichita Falls for a personalized estimate.
Solar savings over time in Wichita Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-12,522 |
| 3 years | $-9,547 |
| 5 years | $-6,572 |
| 7 years | $-3,597 |
| 9 years | $-622 |
| 11 years | $2,353 |
| 13 years | $5,328 |
| 15 years | $8,303 |
| 17 years | $11,278 |
| 19 years | $14,253 |
| 21 years | $17,228 |
| 23 years | $20,203 |
| 25 years | $23,178 |
Top Solar Installers in Wichita Falls
When making the switch to solar, many homeowners choose to hire a solar installer since DIY solar panel installation can be a difficult project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Wichita Falls
Factors that Affect Solar Panel Costs in Wichita Falls
There are several criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,690. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Wichita Falls, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Wichita Falls to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. However, the interest on solar loans also adds to your overall costs, so it's vital to take that into consideration as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Wichita Falls is the company you hire to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services at different costs. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.80 | $11,750 | $18,236 | 9.8 years |
| 8 kW | $2.74 | $15,365 | $24,615 | 9.6 years |
| 10 kW | $2.69 | $18,830 | $31,146 | 9.4 years |
| 12 kW | $2.64 | $22,144 | $37,827 | 9.2 years |
| 14 kW | $2.58 | $25,308 | $44,659 | 9.0 years |
| 16 kW | $2.53 | $28,320 | $51,641 | 8.9 years |
| 18 kW | $2.47 | $31,182 | $58,774 | 8.7 years |
| 20 kW | $2.42 | $33,894 | $66,058 | 8.5 years |
How to Save on Solar Panels
There are many companies available in Wichita Falls, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: The type of solar panel you need to install plays a part in which company you should go with, since different companies have different panels.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Wichita Falls, TX Solar Cost FAQs
How much does it cost to install solar panels in Wichita Falls?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Wichita Falls?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wichita Falls is currently $99,668, so you can look forward to a value of about $4,086 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wichita Falls is a rewarding investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.