Solar Panel Cost Guide in Wilmer, TX (2024 Update)
- Wilmer Solar Installation Cost: $17,930
- 25-Year Savings: $22,704
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Wilmer
Let’s have a look at the average cost of solar in Wilmer.
The average cost of a solar panel system in Wilmer is 3 per watt.Since a 7.7-kW system is needed to cover the energy consumption of a typical home in Wilmer, the average price of going solar will be about $17,930 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more.But, once you've paid the initial cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wilmer
| Year | Return on Investment |
|---|---|
| 1 years | $-16,509 |
| 3 years | $-13,667 |
| 5 years | $-10,825 |
| 7 years | $-7,983 |
| 9 years | $-5,141 |
| 11 years | $-2,299 |
| 13 years | $544 |
| 15 years | $3,386 |
| 17 years | $6,228 |
| 19 years | $9,070 |
| 21 years | $11,912 |
| 23 years | $14,754 |
| 25 years | $17,597 |
Top Solar Installers in Wilmer
Although it's possible to install solar panels on your own, it requires extra energy and knowledge. Because of that, the majority of homeowners choose a solar panel installer. Local solar companies can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Wilmer
Factors that Affect Solar Panel Costs in Wilmer
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Wilmer: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bring your total well above the Wilmer average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Wilmer have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $14,461 | 12.5 years |
| 8 kW | $3.40 | $19,021 | $19,655 | 12.3 years |
| 10 kW | $3.33 | $23,310 | $25,035 | 12.1 years |
| 12 kW | $3.26 | $27,413 | $30,601 | 11.8 years |
| 14 kW | $3.20 | $31,329 | $36,354 | 11.6 years |
| 16 kW | $3.13 | $35,058 | $42,294 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $48,419 | 11.1 years |
| 20 kW | $3.00 | $41,958 | $54,732 | 10.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Wilmer, TX Solar Cost FAQs
How much does it cost to install solar panels in Wilmer?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Wilmer?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $966.90 per year.
How long do solar panels last in Wilmer?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.