Solar Panel Cost Guide in McKinney, TX (2024 Update)
- McKinney Solar Installation Cost: $18,028
- 25-Year Savings: $23,392
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in McKinney
See how much it might cost to go solar in McKinney.
The average cost of a solar system in McKinney is 3 per watt.Using this figure, a typical 7.7-kW system would cost about $18,028 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will most likely differ based on your specific situation and what company you choose to go with.For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in McKinney
| Year | Return on Investment |
|---|---|
| 1 years | $-16,688 |
| 3 years | $-14,007 |
| 5 years | $-11,326 |
| 7 years | $-8,645 |
| 9 years | $-5,964 |
| 11 years | $-3,284 |
| 13 years | $-603 |
| 15 years | $2,078 |
| 17 years | $4,759 |
| 19 years | $7,440 |
| 21 years | $10,121 |
| 23 years | $12,801 |
| 25 years | $15,482 |
Top Solar Installers in McKinney
Although it's possible to install solar panels yourself, it requires extra energy and know-how. That's one of the reasons most people choose a solar panel installer. Also, companies with a high reputation that cost more upfront could actually save you money in the long run due to their warranties, repair services and expert design.
If you’d like to make the switch to solar but still aren’t certain which solar panel company to go with, here are our suggestions for providers nearby:
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 McKinney
Factors that Affect Solar Panel Costs in McKinney
The cost of installing a solar system in McKinney can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay around $3,330 per kilowatt in McKinney.The model of solar panels and equipment you get is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in McKinney provide solar loans, which reduce the initial cost of installing solar panels.Although solar loans make going solar more accessible for McKinney homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in McKinney is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $14,900 | 12.3 years |
| 8 kW | $3.40 | $19,021 | $20,240 | 12.1 years |
| 10 kW | $3.33 | $23,310 | $25,766 | 11.9 years |
| 12 kW | $3.26 | $27,413 | $31,478 | 11.6 years |
| 14 kW | $3.20 | $31,329 | $37,377 | 11.4 years |
| 16 kW | $3.13 | $35,058 | $43,463 | 11.2 years |
| 18 kW | $3.06 | $38,601 | $49,735 | 10.9 years |
| 20 kW | $3.00 | $41,958 | $56,193 | 10.7 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you need to get plays a part in which company you should opt for, since different companies have access to different panels.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
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 McKinney, TX Solar Cost FAQs
How much does it cost to install solar panels in McKinney?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.