Solar Panel Cost Guide in Woodway, TX (2023 Update)
- Woodway Solar Installation Cost: $14,287
- 25-Year Savings: $17,085
- Payback Period: 11.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Woodway
Find out what the average cost of a solar system is in Woodway.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Woodway, the typical cost of a solar system is 2.69 per watt. Using this figure, a typical 7.6-kW system would cost about $14,292 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Woodway homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $16,000 on power bills over 20 years, many homeowners in Woodway find investing in solar can pay off big.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Woodway
| Year | Return on Investment |
|---|---|
| 1 years | $-13,106 |
| 3 years | $-10,743 |
| 5 years | $-8,381 |
| 7 years | $-6,019 |
| 9 years | $-3,657 |
| 11 years | $-1,294 |
| 13 years | $1,068 |
| 15 years | $3,430 |
| 17 years | $5,792 |
| 19 years | $8,155 |
| 21 years | $10,517 |
| 23 years | $12,879 |
| 25 years | $15,241 |
Top Solar Installers in Woodway
Many homeowners opt for a solar installation company since trying to install solar panels on your own can be hard. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Woodway
Factors that Affect Solar Panel Costs in Woodway
The cost of installing a solar system in Woodway can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,690. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Woodway, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
If paying for a solar system in cash is too expensive, solar loans are an affordable 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. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you pick will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Woodway have more knowledge about local solar incentives and can help you take advantage of 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 | $2.80 | $11,750 | $13,059 | 11.8 years |
| 8 kW | $2.74 | $15,365 | $17,713 | 11.6 years |
| 10 kW | $2.69 | $18,830 | $22,518 | 11.4 years |
| 12 kW | $2.64 | $22,144 | $27,473 | 11.2 years |
| 14 kW | $2.58 | $25,308 | $32,579 | 10.9 years |
| 16 kW | $2.53 | $28,320 | $37,836 | 10.7 years |
| 18 kW | $2.47 | $31,182 | $43,243 | 10.5 years |
| 20 kW | $2.42 | $33,894 | $48,801 | 10.2 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Before signing a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Woodway, TX Solar Cost FAQs
What is the average cost of installing solar panels in Woodway?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Woodway?
You can't get solar panels for free in Woodway. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Woodway have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce 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.