Solar Panel Cost Guide in Elm Creek, TX (2024 Update)
- Elm Creek Solar Installation Cost: $16,711
- 25-Year Savings: $41,976
- Payback Period: 7.5 Years
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Average Cost of Solar Panels in Elm Creek
Find out what the average cost of solar panels are in Elm Creek.
The average cost of solar panels in Elm Creek is 3 per watt.To cover the typical energy usage of the average home in Elm Creek, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,711, or $23,897 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Elm Creek homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $31,000 over 20 years on energy bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Elm Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-14,561 |
| 3 years | $-10,260 |
| 5 years | $-5,960 |
| 7 years | $-1,659 |
| 9 years | $2,641 |
| 11 years | $6,942 |
| 13 years | $11,243 |
| 15 years | $15,543 |
| 17 years | $19,844 |
| 19 years | $24,144 |
| 21 years | $28,445 |
| 23 years | $32,746 |
| 25 years | $37,046 |
Top Solar Installers in Elm Creek
Although it's possible to install solar panels yourself, it takes extra labor and knowledge. That's one of the reasons most people choose a solar panel installer. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Elm Creek
Factors that Affect Solar Panel Costs in Elm Creek
For many Elm Creek homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Elm Creek, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Elm Creek, one of the most important 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 usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $3,330 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Elm Creek homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s vital to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Elm Creek, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $31,883 | 7.8 years |
| 8 kW | $3.40 | $19,021 | $42,883 | 7.7 years |
| 10 kW | $3.33 | $23,310 | $54,070 | 7.5 years |
| 12 kW | $3.26 | $27,413 | $65,444 | 7.4 years |
| 14 kW | $3.20 | $31,329 | $77,003 | 7.2 years |
| 16 kW | $3.13 | $35,058 | $88,750 | 7.1 years |
| 18 kW | $3.06 | $38,601 | $100,683 | 6.9 years |
| 20 kW | $3.00 | $41,958 | $112,802 | 6.8 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
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 Elm Creek, TX Solar Cost FAQs
How much does it cost to install solar panels in Elm Creek?
The average cost of solar panels in Elm Creek is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind 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 Elm Creek?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Elm Creek, 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 contact 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?
To figure out what solar panel system size 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.