Solar Panel Cost Guide in Wylie, TX (Jan 2023)
- Wylie Solar Installation Cost: $14,518
- 25-Year Savings: $24,725
- Payback Period: 9.3 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Wylie
We go over average solar pricing in Wylie.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wylie, the average cost of a solar system is $3 per watt. To cover the typical energy needs of the average home in Wylie, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs around $14,518, or $10,743 after the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what installation company you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $19,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar company in Wylie for a custom estimate.
Solar savings over time in Wylie
| Year | Return on Investment |
|---|---|
| 1 years | $-12,948 |
| 3 years | $-9,809 |
| 5 years | $-6,669 |
| 7 years | $-3,530 |
| 9 years | $-391 |
| 11 years | $2,749 |
| 13 years | $5,888 |
| 15 years | $9,028 |
| 17 years | $12,167 |
| 19 years | $15,306 |
| 21 years | $18,446 |
| 23 years | $21,585 |
| 25 years | $24,725 |
Top Solar Installers in Wylie
Installing solar panels on your own can be a difficult undertaking, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be helpful as well, particularly if you aren't sure what kind of solar equipment would be right for your home.
Working with a professional 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 Wylie
Factors that Affect Solar Panel Costs in Wylie
The cost of installing a solar system in Wylie can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,690. The solar equipment you choose can bring your price up or down 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, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Wylie average.
Solar Financing Terms
Many homeowners find the average cost of solar in Wylie to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of 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 original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can influence how much it costs. Wylie's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that provides the products, warranties and services you want and also is within your budget.
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 | $18,783 | 9.6 years |
| 8 kW | $2.74 | $15,365 | $25,345 | 9.4 years |
| 10 kW | $2.69 | $18,830 | $32,058 | 9.3 years |
| 12 kW | $2.64 | $22,144 | $38,921 | 9.1 years |
| 14 kW | $2.58 | $25,308 | $45,935 | 8.9 years |
| 16 kW | $2.53 | $28,320 | $53,100 | 8.7 years |
| 18 kW | $2.47 | $31,182 | $60,415 | 8.5 years |
| 20 kW | $2.42 | $33,894 | $67,881 | 8.3 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:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Wylie, TX Solar Cost FAQs
How much does it cost to install solar panels in Wylie?
The average cost of solar panels in Wylie is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
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.