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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Waco, the average cost of solar panels is 3 per watt.The average solar panel system size in Waco is around 7.6 kilowatts, meaning a cost of about $17,686 for a solar installation, or $25,291 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 panel system. The actual cost of installing solar panels can vary based on several factors, such as what size system you need, your energy consumption and what solar installer you go with.With average savings of about $16,000 on power bills over 20 years, many homeowners in Waco find investing in solar can pay off big.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
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
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of an installer can make converting to solar power much easier. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Waco:
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 Waco
Factors that Affect Solar Panel Costs in Waco
The cost of installing a solar system in Waco can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Waco, 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 consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $3,330 for each additional kilowatt you need.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 get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Waco average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Waco homeowners decide to finance their solar panel systems to make going solar more affordable.Even though solar loans make going solar more accessible for Waco homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Waco, you’ll have many options to choose from, but each comes at various price points for labor and equipment.Larger national companies usually 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 | $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
The solar installer you opt for will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- 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 system is installed, such as repairing your electrical system or roof.
- Contract: When reading over 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 if the company goes out of business.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
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 Waco, TX Solar Cost FAQs
What is the average cost of installing solar panels in Waco?
The average cost of solar panels in Waco 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Waco?
A solar panel system isn’t free in Waco, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact the value of my home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a 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 buy 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.