Solar Panel Cost Guide in Mineral Wells, TX (2024 Update)
- Mineral Wells Solar Installation Cost: $17,485
- 25-Year Savings: $16,214
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Mineral Wells
Find out what the average cost of solar panel installation is in Mineral Wells.
The average cost of a solar panel system in Mineral Wells is 3 per watt.Using this figure, a typical 7.5-kW system would cost about $17,485 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in Mineral Wells for a quote for your home.
Solar savings over time in Mineral Wells
| Year | Return on Investment |
|---|---|
| 1 years | $-15,954 |
| 3 years | $-12,891 |
| 5 years | $-9,829 |
| 7 years | $-6,766 |
| 9 years | $-3,704 |
| 11 years | $-641 |
| 13 years | $2,421 |
| 15 years | $5,484 |
| 17 years | $8,546 |
| 19 years | $11,609 |
| 21 years | $14,671 |
| 23 years | $17,734 |
| 25 years | $20,797 |
Top Solar Installers in Mineral Wells
Many homeowners opt for a solar installation company since figuring out how to install solar panels yourself can be hard. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be best for your family.
If you're searching for a solar company in Mineral Wells, we've put together a list of our top suggestions here:
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 Mineral Wells
Factors that Affect Solar Panel Costs in Mineral Wells
For many Mineral Wells homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Mineral Wells, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,330. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Mineral Wells, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Mineral Wells homeowners choose to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases 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 sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar installation company you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower 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 | $3.46 | $14,545 | $9,722 | 15.0 years |
| 8 kW | $3.40 | $19,021 | $13,335 | 14.7 years |
| 10 kW | $3.33 | $23,310 | $17,136 | 14.4 years |
| 12 kW | $3.26 | $27,413 | $21,122 | 14.1 years |
| 14 kW | $3.20 | $31,329 | $25,295 | 13.8 years |
| 16 kW | $3.13 | $35,058 | $29,655 | 13.5 years |
| 18 kW | $3.06 | $38,601 | $34,201 | 13.3 years |
| 20 kW | $3.00 | $41,958 | $38,933 | 13.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before deciding.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Mineral Wells, TX Solar Cost FAQs
What is the average cost of installing solar panels in Mineral Wells?
The average cost of solar panels in Mineral Wells 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 type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Mineral Wells?
You can’t get solar panels for free in Mineral Wells. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for 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."
How long do solar panels last in Mineral Wells?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.