Solar Panel Cost Guide in Canyon, TX (2024 Update)

  • Canyon Solar Installation Cost: $16,817
  • 25-Year Savings: $27,733
  • Payback Period: 10.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Canyon

Here’s how much it might cost to make the switch to solar in Canyon.

While the national average of solar panels is $2.66 per watt, solar panels in Canyon generally cost around 3.Using this figure, a typical 7.2-kW system would cost about $16,817 before the 0 federal solar tax credit is applied.

The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Despite the significant initial cost, the average Canyon homeowner can save about $22,000 on their power bills over 20 years, which is one of the positives of solar.

You can click the button below to get connected with a top solar company in Canyon for a quote for your home.

Solar savings over time in Canyon

Year Return on Investment
1 years $-15,501
3 years $-12,869
5 years $-10,236
7 years $-7,604
9 years $-4,972
11 years $-2,339
13 years $293
15 years $2,926
17 years $5,558
19 years $8,190
21 years $10,823
23 years $13,455
25 years $16,088

Top Solar Installers in Canyon

Installing solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.

You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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 Canyon

Factors that Affect Solar Panel Costs in Canyon

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Canyon: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

The size of the solar system you need for your home, 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 nearly $3,330. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Most solar installers in Canyon provide solar loans, which reduce the initial cost of installing solar.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’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 finding a solar loan with a low APR could reduce your costs remarkably.

Solar Panel Installation Company

The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of clean energy solutions in Canyon, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.The size of the company can sometimes play the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and bulk 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 companies.

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 $19,816 10.6 years
8 kW $3.40 $19,021 $26,794 10.4 years
10 kW $3.33 $23,310 $33,959 10.2 years
12 kW $3.26 $27,413 $41,310 10.0 years
14 kW $3.20 $31,329 $48,848 9.8 years
16 kW $3.13 $35,058 $56,572 9.6 years
18 kW $3.06 $38,601 $64,483 9.4 years
20 kW $3.00 $41,958 $72,580 9.2 years

How to Save on Solar Panels

The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:

  • Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project completion timeline rebates and warranties.
  • Warranty: A comprehensive, long-term warranty can help keep your solar system running for years to come and save you money on repairs and maintenance.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean 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 look into your installer’s reputation is by reading reviews.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
  • Slightly limited service offerings

EcoWatch's Canyon, TX Solar Cost FAQs

What is the average cost of installing solar panels in Canyon?

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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Are solar panels free in Canyon?

A solar panel system isn’t free in Canyon, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

Is switching to solar power worth it?

Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.

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