Solar Panel Cost Guide in Laredo, TX (2024 Update)
- Laredo Solar Installation Cost: $16,440
- 25-Year Savings: $29,138
- Payback Period: 9.7 Years
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Average Cost of Solar Panels in Laredo
We go over average solar pricing in Laredo.
Although the national average of solar panels is $2.66 per watt, solar panels in Laredo typically cost about 3.Using this figure, a typical 7.1-kW system would cost about $16,440 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on your energy needs and what company you choose to go with.With average savings of about $23,000 on energy bills over 20 years, many homeowners in Laredo find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Laredo that can help you get a more accurate cost estimate for your home.
Solar savings over time in Laredo
| Year | Return on Investment |
|---|---|
| 1 years | $-14,924 |
| 3 years | $-11,893 |
| 5 years | $-8,862 |
| 7 years | $-5,830 |
| 9 years | $-2,799 |
| 11 years | $233 |
| 13 years | $3,264 |
| 15 years | $6,295 |
| 17 years | $9,327 |
| 19 years | $12,358 |
| 21 years | $15,390 |
| 23 years | $18,421 |
| 25 years | $21,452 |
Top Solar Installers in Laredo
Many homeowners choose to hire a solar panel installer since installing solar panels on your own can be time-consuming. In addition, 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 repairs, expertise on how to install solar panels and sometimes even information on local incentives.
If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our suggestions for providers near you:
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Laredo
Factors that Affect Solar Panel Costs in Laredo
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Laredo: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar equipment you choose can bring your price up or down 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Laredo average.
Solar Financing Terms
Most solar companies in Laredo offer solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only 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 finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Laredo, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Laredo have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $21,541 | 10.1 years |
| 8 kW | $3.40 | $19,021 | $29,094 | 9.9 years |
| 10 kW | $3.33 | $23,310 | $36,833 | 9.7 years |
| 12 kW | $3.26 | $27,413 | $44,759 | 9.5 years |
| 14 kW | $3.20 | $31,329 | $52,872 | 9.3 years |
| 16 kW | $3.13 | $35,058 | $61,171 | 9.1 years |
| 18 kW | $3.06 | $38,601 | $69,657 | 8.9 years |
| 20 kW | $3.00 | $41,958 | $78,329 | 8.7 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should take into account, such as:
- 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 brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Laredo, TX Solar Cost FAQs
How much does it cost to install solar panels in Laredo?
The average cost of solar panels in Laredo 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 kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Laredo?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Laredo, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Laredo?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.