Solar Panel Cost Guide in Morgan's Point Resort, TX (2024 Update)
- Morgan's Point Resort Solar Installation Cost: $17,575
- 25-Year Savings: $19,696
- Payback Period: 13.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Morgan's Point Resort
We go over average solar pricing in Morgan's Point Resort.
The average cost of a solar panel system in Morgan's Point Resort is 3 per watt.To account for the typical energy needs of the average home in Morgan's Point Resort, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,575, or $25,132 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you will most likely look different based on the amount of energy your home requires and what company you want to go with.For most homeowners, the upfront cost of solar power is worth paying. On average Morgan's Point Resort homeowners see about $17,000 in savings on electricity bills over 20 years.
To receive a free estimate from a vetted solar installer in Morgan's Point Resort, you can click the button below.
Solar savings over time in Morgan's Point Resort
Year | Return on Investment |
---|---|
1 years | $-16,143 |
3 years | $-13,277 |
5 years | $-10,412 |
7 years | $-7,547 |
9 years | $-4,681 |
11 years | $-1,816 |
13 years | $1,049 |
15 years | $3,915 |
17 years | $6,780 |
19 years | $9,645 |
21 years | $12,510 |
23 years | $15,376 |
25 years | $18,241 |
Top Solar Installers in Morgan's Point Resort
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar company can make switching to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Morgan's Point Resort:
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 Morgan's Point Resort
Factors that Affect Solar Panel Costs in Morgan's Point Resort
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Morgan's Point Resort: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,330. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Morgan's Point Resort average.
Solar Financing Terms
Most solar installers in Morgan's Point Resort have solar loans, which reduce your upfront costs 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 securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact how much it costs. Morgan's Point Resort’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $12,426 | 13.5 years |
8 kW | $3.40 | $19,021 | $16,941 | 13.2 years |
10 kW | $3.33 | $23,310 | $21,643 | 13.0 years |
12 kW | $3.26 | $27,413 | $26,531 | 12.7 years |
14 kW | $3.20 | $31,329 | $31,605 | 12.4 years |
16 kW | $3.13 | $35,058 | $36,866 | 12.2 years |
18 kW | $3.06 | $38,601 | $42,314 | 11.9 years |
20 kW | $3.00 | $41,958 | $47,948 | 11.7 years |
How to Save on Solar Panels
There are a lot of companies available in Morgan's Point Resort, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
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 Morgan's Point Resort, TX Solar Cost FAQs
How much does it cost to install solar panels in Morgan's Point Resort?
This is a difficult question to answer exactly, because the cost depends on a few different 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Morgan's Point Resort?
Leasing solar panels can be an attractive choice, because 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power 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 install 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.