Solar Panel Cost Guide in Wylie, TX (2024 Update)
- Wylie Solar Installation Cost: $17,976
- 25-Year Savings: $24,722
- Payback Period: 11.5 Years
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Average Cost of Solar Panels in Wylie
Let’s take a look at the average cost of solar in Wylie.
While the national average of solar panels is $2.66 per watt, solar panels in Wylie generally cost about 3.The average solar panel system size in Wylie is around 7.7 kilowatts, meaning a cost of about $17,976 for a solar installation, or $25,706 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more.Despite the high initial cost, the average Wylie homeowner can save around $19,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free quote from a highly rated solar company in Wylie, you can click the button below.
Solar savings over time in Wylie
| Year | Return on Investment |
|---|---|
| 1 years | $-16,549 |
| 3 years | $-13,695 |
| 5 years | $-10,841 |
| 7 years | $-7,986 |
| 9 years | $-5,132 |
| 11 years | $-2,278 |
| 13 years | $576 |
| 15 years | $3,430 |
| 17 years | $6,284 |
| 19 years | $9,138 |
| 21 years | $11,992 |
| 23 years | $14,846 |
| 25 years | $17,700 |
Top Solar Installers in Wylie
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Taking advantage of an installer can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Wylie
Factors that Affect Solar Panel Costs in Wylie
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,330 per kilowatt in Wylie.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Wylie, 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 a better option. 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 Wylie to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you get to install your solar system can impact your pricing. Wylie’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Wylie have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $15,987 | 11.9 years |
| 8 kW | $3.40 | $19,021 | $21,689 | 11.7 years |
| 10 kW | $3.33 | $23,310 | $27,578 | 11.5 years |
| 12 kW | $3.26 | $27,413 | $33,653 | 11.2 years |
| 14 kW | $3.20 | $31,329 | $39,914 | 11.0 years |
| 16 kW | $3.13 | $35,058 | $46,362 | 10.8 years |
| 18 kW | $3.06 | $38,601 | $52,996 | 10.5 years |
| 20 kW | $3.00 | $41,958 | $59,817 | 10.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: When looking over 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 if the company goes out of business.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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 Wylie, TX Solar Cost FAQs
How much does it cost to install solar panels in Wylie?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Wylie?
A solar panel system isn’t free in Wylie, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
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 Wylie is currently $418,905, which means you can look forward to a value of about $17,175 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Wylie is a rewarding investment.
How often do you have to replace solar panels?
On average, solar panels can last 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 level 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.