Solar Panel Cost Guide in The Colony, TX (2024 Update)
- The Colony Solar Installation Cost: $17,850
- 25-Year Savings: $21,427
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in The Colony
We go over average solar pricing in The Colony.
In The Colony, solar panels cost about 3 per watt on average.The average The Colony homeowner needs a 7.7-kilowatt system, which would cost about $17,850 with the federal tax credit, or $25,526 before the 0 tax credit is applied.
These figures are only estimates, and the cost of going solar for you will vary based on your specific situation and what company you choose to go with.Many homeowners find going solar is a sound investment. The average homeowner in The Colony can save around $18,000 on their energy bills over 20 years.
To get a free estimate from a top solar installer in The Colony, you can click the button below.
Solar savings over time in The Colony
| Year | Return on Investment |
|---|---|
| 1 years | $-16,564 |
| 3 years | $-13,991 |
| 5 years | $-11,418 |
| 7 years | $-8,845 |
| 9 years | $-6,272 |
| 11 years | $-3,698 |
| 13 years | $-1,125 |
| 15 years | $1,448 |
| 17 years | $4,021 |
| 19 years | $6,594 |
| 21 years | $9,167 |
| 23 years | $11,740 |
| 25 years | $14,313 |
Top Solar Installers in The Colony
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using an installer can make switching to solar power much easier. Plus, if you’d like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
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 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 The Colony
Factors that Affect Solar Panel Costs in The Colony
For many The Colony homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in The Colony, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,330.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the The Colony average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many The Colony homeowners decide to finance their solar panel systems to offset upfront costs.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in The Colony is the company you choose to install your solar system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services for different budgets.Larger national companies usually 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 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 | $13,541 | 12.9 years |
| 8 kW | $3.40 | $19,021 | $18,427 | 12.7 years |
| 10 kW | $3.33 | $23,310 | $23,500 | 12.4 years |
| 12 kW | $3.26 | $27,413 | $28,760 | 12.2 years |
| 14 kW | $3.20 | $31,329 | $34,206 | 12.0 years |
| 16 kW | $3.13 | $35,058 | $39,838 | 11.7 years |
| 18 kW | $3.06 | $38,601 | $45,657 | 11.5 years |
| 20 kW | $3.00 | $41,958 | $51,662 | 11.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
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 The Colony, TX Solar Cost FAQs
What is the average cost of installing solar panels in The Colony?
The average cost of solar panels in The Colony 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $936.20 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a 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 buy between 20 and 35 panels to account for 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.