Solar Panel Cost Guide in Waco, TX (2024 Update)
- Waco Solar Installation Cost: $17,686
- 25-Year Savings: $17,085
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Waco
Find out what the average cost of installing solar panels is in Waco.
The national average cost of solar panels is $2.66 per watt, but in Waco it’s 3 per watt.To account for the typical energy usage of the average home in Waco, most homeowners require a 7.6-kilowatt system. Using the figure above, a solar installation costs around $17,686, or $25,291 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar panels is worth paying. On average Waco homeowners see about $16,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a reputable solar installer in Waco for a custom estimate.
Solar savings over time in Waco
| Year | Return on Investment |
|---|---|
| 1 years | $-16,505 |
| 3 years | $-14,142 |
| 5 years | $-11,780 |
| 7 years | $-9,418 |
| 9 years | $-7,056 |
| 11 years | $-4,693 |
| 13 years | $-2,331 |
| 15 years | $31 |
| 17 years | $2,393 |
| 19 years | $4,755 |
| 21 years | $7,118 |
| 23 years | $9,480 |
| 25 years | $11,842 |
Top Solar Installers in Waco
Although you can install solar panels yourself, it involves extra labor and expertise. Because of that, almost all homeowners choose a solar panel installer. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Waco
Factors that Affect Solar Panel Costs in Waco
For many Waco homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Waco, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend around $3,330 per kilowatt in Waco.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Waco have solar loans, which reduce your upfront costs of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Waco, you’ll have a great number of options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Waco have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,263 | 14.7 years |
| 8 kW | $3.40 | $19,021 | $14,057 | 14.4 years |
| 10 kW | $3.33 | $23,310 | $18,038 | 14.1 years |
| 12 kW | $3.26 | $27,413 | $22,204 | 13.8 years |
| 14 kW | $3.20 | $31,329 | $26,558 | 13.5 years |
| 16 kW | $3.13 | $35,058 | $31,098 | 13.2 years |
| 18 kW | $3.06 | $38,601 | $35,824 | 13.0 years |
| 20 kW | $3.00 | $41,958 | $40,737 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Waco, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
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 Waco, TX Solar Cost FAQs
What is the average cost of installing solar panels in Waco?
This is a difficult question to answer precisely, 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Waco?
You can’t get solar panels for free in Waco. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Waco is currently $218,330, which means you can look forward to a value of about $8,952 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Waco is a rewarding investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.