Solar Panel Cost Guide in Medina, TX (2024 Update)
- Medina Solar Installation Cost: $16,203
- 25-Year Savings: $27,371
- Payback Period: 10.0 Years
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Average Cost of Solar Panels in Medina
Find out what the average cost of installing solar panels is in Medina.
While the national average of solar panels is $2.66 per watt, solar panels in Medina generally cost about 3.The average solar panel system size in Medina is around 7.0 kilowatts, meaning a cost of about $16,203 for a solar installation, or $23,170 before the 0 federal solar tax credit is applied.
How much you pay can be above or below the average in Medina based on a few factors, such as the kind of solar panels you choose and the solar company you hire.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Medina can save around $22,000 on their electricity bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom quote.
Solar savings over time in Medina
| Year | Return on Investment |
|---|---|
| 1 years | $-14,687 |
| 3 years | $-11,656 |
| 5 years | $-8,625 |
| 7 years | $-5,593 |
| 9 years | $-2,562 |
| 11 years | $470 |
| 13 years | $3,501 |
| 15 years | $6,532 |
| 17 years | $9,564 |
| 19 years | $12,595 |
| 21 years | $15,627 |
| 23 years | $18,658 |
| 25 years | $21,689 |
Top Solar Installers in Medina
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Solar companies offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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 Medina
Factors that Affect Solar Panel Costs in Medina
There are a number of factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the price of solar panels in Medina, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $3,330 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Medina, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.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’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
A final consideration when trying to estimate the cost of solar for your home or business in Medina is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that offer a range of services at different price points.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have 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 | $20,378 | 10.4 years |
| 8 kW | $3.40 | $19,021 | $27,543 | 10.2 years |
| 10 kW | $3.33 | $23,310 | $34,895 | 10.0 years |
| 12 kW | $3.26 | $27,413 | $42,434 | 9.8 years |
| 14 kW | $3.20 | $31,329 | $50,159 | 9.6 years |
| 16 kW | $3.13 | $35,058 | $58,070 | 9.4 years |
| 18 kW | $3.06 | $38,601 | $66,168 | 9.2 years |
| 20 kW | $3.00 | $41,958 | $74,452 | 9.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose greatly affects your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- 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 done and how long it will take.
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 Medina, TX Solar Cost FAQs
What is the average cost of installing solar panels in Medina?
This is a hard question to answer precisely, because the cost depends on many 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 cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Medina?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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.