Solar Panel Cost Guide in Woodway, TX (2024 Update)
- Woodway Solar Installation Cost: $17,686
- 25-Year Savings: $17,085
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Woodway
We go over average solar pricing in Woodway.
In Woodway, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Woodway, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs about $17,686, or $25,291 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you will most likely differ based on your energy needs and what company you go with.With average savings of about $16,000 on energy bills over 20 years, many homeowners in Woodway find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar installer in Woodway that can help you get a more accurate cost estimate for your home.
Solar savings over time in Woodway
| Year | Return on Investment |
|---|---|
| 1 years | $-16,505 |
| 3 years | $-14,142 |
| 5 years | $-11,780 |
| 7 years | $-9,418 |
| 9 years | $-7,056 |
| 11 years | $-4,693 |
| 13 years | $-2,331 |
| 15 years | $31 |
| 17 years | $2,393 |
| 19 years | $4,755 |
| 21 years | $7,118 |
| 23 years | $9,480 |
| 25 years | $11,842 |
Top Solar Installers in Woodway
Many homeowners opt for a solar panel installer since trying to put up solar panels on your own can be a labor-intensive endeavor. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Woodway, we've organized a list of our top suggestions here:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Woodway, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by around $3,330 for each additional kilowatt you need.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Woodway homeowners choose to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your all-in costs, so it’s important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you get to install your solar panels can influence how much you pay. Woodway’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.46 | $14,545 | $10,263 | 14.7 years |
| 8 kW | $3.40 | $19,021 | $14,057 | 14.4 years |
| 10 kW | $3.33 | $23,310 | $18,038 | 14.1 years |
| 12 kW | $3.26 | $27,413 | $22,204 | 13.8 years |
| 14 kW | $3.20 | $31,329 | $26,558 | 13.5 years |
| 16 kW | $3.13 | $35,058 | $31,098 | 13.2 years |
| 18 kW | $3.06 | $38,601 | $35,824 | 13.0 years |
| 20 kW | $3.00 | $41,958 | $40,737 | 12.7 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Woodway, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Solar Panel Brands: The model of solar panel you’d like plays a part in which installer you should go with, since different companies offer different panels.
- Contract: Before you sign a contract with a solar company, be sure to read it through carefully so you understand the terms. Also, ask questions if you’re unsure 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Woodway, TX Solar Cost FAQs
What is the average cost of installing solar panels in Woodway?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Woodway?
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.
Can solar panels completely eradicate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Woodway, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.