Solar Panel Cost Guide in Wylie, TX (Oct 2022)
- Wylie Solar Installation Cost: $14,518
- 25-Year Savings: $24,725
- Payback Period: 9.3 Years
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Updated 9/16/2022
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Average Cost of Solar Panels in Wylie
See how much it might cost to install solar panels 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 usage of the average home in Wylie, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs about $14,518, or $10,743 after the federal solar tax credit of 30% is applied.
These figures are only averages, and the cost of going solar for you will vary based on the amount of energy your home requires and what company you go with. Even with the large upfront cost, the average Wylie homeowner can save about $19,000 on their power bills over 20 years, which is one of the advantages of solar.
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
When making the switch to solar, many homeowners prefer to use a solar installation company since handling can be a difficult project. Companies can also have access to quality options of the best solar panels and help you choose which one will be best for your family.
If you'd like to switch to solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers in Wylie:
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
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in Wylie: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment Size
When it comes to estimating the cost of a solar energy system in Wylie, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. 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
Most solar companies in Wylie provide solar loans, which reduce the initial cost of installing a solar system. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Wylie, and each can charge different amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 |
Solar Incentives in Wylie
| Name | Renewable Energy Systems Property Tax Exemption |
| Incentive Amount | 100% |
| Website | Visit here |
| More Info | Click here |
| Name | CoServ - Solar Energy Rebate |
| Website | Visit here |
| More Info | Click here |
| Name | Texas Gas Service - Residential Energy Efficiency Rebate Program |
| Website | Visit here |
| More Info | Click here |
| Name | Residential Renewable Energy Tax Credit |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
The solar installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should opt for, since different companies have access to different panels.
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
What is the average cost of installing 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 model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Wylie?
Leasing solar panels can be an option if you can't afford 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 home 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 financial benefits from going solar.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location 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 $1,017.75 per year.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.
