Solar Panel Cost Guide in Red Oak, TX (2024 Update)
- Red Oak Solar Installation Cost: $17,824
- 25-Year Savings: $22,789
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Red Oak
Find out how much it might cost to make the switch to solar in Red Oak.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Red Oak, the typical cost of a solar system is 3 per watt.The average solar panel system size in Red Oak is around 7.6 kilowatts, meaning a cost of about $17,824 for a solar installation, or $25,488 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary depending on several factors, such as how many panels you need, your energy consumption and what company you go with.Many homeowners find going solar is a sound investment. The average homeowner in Red Oak can save about $19,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar company in Red Oak that can help you get a more accurate cost estimate for your home.
Solar savings over time in Red Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-16,403 |
| 3 years | $-13,561 |
| 5 years | $-10,719 |
| 7 years | $-7,877 |
| 9 years | $-5,035 |
| 11 years | $-2,192 |
| 13 years | $650 |
| 15 years | $3,492 |
| 17 years | $6,334 |
| 19 years | $9,176 |
| 21 years | $12,018 |
| 23 years | $14,860 |
| 25 years | $17,703 |
Top Solar Installers in Red Oak
When making the switch to solar, many homeowners opt to go with a solar installer since handling can be a difficult project. Another benefit of utilizing a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
There are several 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 Red Oak
Factors that Affect Solar Panel Costs in Red Oak
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Red Oak: 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
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,330. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The last major cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Red Oak, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $14,634 | 12.5 years |
| 8 kW | $3.40 | $19,021 | $19,885 | 12.2 years |
| 10 kW | $3.33 | $23,310 | $25,323 | 12.0 years |
| 12 kW | $3.26 | $27,413 | $30,947 | 11.7 years |
| 14 kW | $3.20 | $31,329 | $36,757 | 11.5 years |
| 16 kW | $3.13 | $35,058 | $42,754 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $48,937 | 11.0 years |
| 20 kW | $3.00 | $41,958 | $55,307 | 10.8 years |
How to Save on Solar Panels
There are many companies available in Red Oak, 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:
- Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Installation Process: Make sure you’re aligned with the installer regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
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 Red Oak, TX Solar Cost FAQs
How much does it cost to install solar panels in Red Oak?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Red Oak?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Red Oak have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Red Oak?
On average, solar panels can last 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 larger 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.