Solar Panel Cost Guide in Prosper, TX (2024 Update)
- Prosper Solar Installation Cost: $17,939
- 25-Year Savings: $21,355
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Prosper
Let’s have a look at the average cost of solar in Prosper.
In Prosper, solar panels cost about 3 per watt on average.The average solar panel system size in Prosper is around 7.7 kilowatts, meaning a cost of about $17,939 for a solar installation, or $25,653 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Prosper depending on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find adopting solar power is a sound investment. The average homeowner in Prosper can save about $18,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom quote.
Solar savings over time in Prosper
| Year | Return on Investment |
|---|---|
| 1 years | $-16,652 |
| 3 years | $-14,079 |
| 5 years | $-11,506 |
| 7 years | $-8,933 |
| 9 years | $-6,360 |
| 11 years | $-3,787 |
| 13 years | $-1,214 |
| 15 years | $1,359 |
| 17 years | $3,932 |
| 19 years | $6,505 |
| 21 years | $9,078 |
| 23 years | $11,651 |
| 25 years | $14,224 |
Top Solar Installers in Prosper
Although it's possible to install solar panels on your own, it requires extra energy and know-how. That's why almost all homeowners choose to go with a solar panel installer. Plus, if you aren’t sure what brand of solar panels and equipment you want, a solar installer can help you figure that out after a site survey and consultation.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Prosper
Factors that Affect Solar Panel Costs in Prosper
For many Prosper homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Prosper, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment goes beyond just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Prosper to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.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 significantly.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can affect the cost. Prosper’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 promoting 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 | $13,402 | 13.0 years |
| 8 kW | $3.40 | $19,021 | $18,242 | 12.8 years |
| 10 kW | $3.33 | $23,310 | $23,269 | 12.5 years |
| 12 kW | $3.26 | $27,413 | $28,483 | 12.3 years |
| 14 kW | $3.20 | $31,329 | $33,882 | 12.0 years |
| 16 kW | $3.13 | $35,058 | $39,469 | 11.8 years |
| 18 kW | $3.06 | $38,601 | $45,241 | 11.5 years |
| 20 kW | $3.00 | $41,958 | $51,201 | 11.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Prosper, TX Solar Cost FAQs
What is the average cost of installing solar panels in Prosper?
The average cost of solar panels in Prosper is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Prosper?
You can’t get solar panels for free in Prosper. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Prosper?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Prosper?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.