The American people are hungry to use renewable energy. In fact, a recent Pew Research survey concluded that nearly 80% of Americans want green energy. Let’s see about Texas solar: Is it really worth the cost.
This comes as no surprise as people are conscious of the environment. They also want to reduce their monthly electricity bill.
Texas is one of the states that can benefit from solar energy the most. The sun is more powerful in Southern states and more solar energy is collected.
Read on for a comprehensive guide to Texas solar energy. Explore the cost of solar panels in Texas and whether it is worth it to make the switch.
What Are the Costs of Solar Panels in Texas?
The cost of solar panels depends on many different factors. Each state has different tax incentives that they offer for its residents to switch to solar.
Installation is another major cost factor for solar panels. The labor rate for solar technicians and installers varies depending on the state. Northeastern states, for example, have much higher hourly pay rates than Texas.
This same concept holds true for urban vs rural settings. The solar installation company is going to cost more in an urban area, like Houston or Dallas, where the cost of living is higher.
Other costs affect the overall price. There are different types of panels that range in cost depending on the type and quality.
The size of your home and its energy needs also play a major role in the price. A larger home requires more panels which increases the cost.
Another possible factor is whether you purchase or finance solar panels. Financing options add the potential for interest and other lending fees.
In Texas, the average cost of a 6kW system is nearly $15,000. This includes a federal tax incentive of approximately $3,200. The average cost per watt is $2.60.
Are Solar Panels Worth It in Texas?
Assuming you stay in your home long enough, solar panels are worth it. You recoup the initial investment in solar via major reductions in your monthly electricity bill.
If your upfront investment is less than $11,000, return on investment (ROI) studies show a break-even point in seven years. The ROI break-even point increases to twelve years for a $26,000 system.
There are other financial benefits as well. Real estate experts agree that the inclusion of solar panels increases your property value. Homebuyers want solar energy and it is a major benefit when they do not have to fund the transition.
There are non-monetary benefits to converting to solar as well. Solar panels do not emit carbon dioxide and help in the fight against climate change. They also reduce your household’s dependence on the electric grid.
Texas Solar Energy – Are You Ready to Convert?
Now is the right time to convert to solar energy. The faster you pull the trigger, the quicker the system will pay for itself. You will reap the benefits of cheap monthly utility bills with solar panels.
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