Solar Energy Payback and ROI for Homeowners in Texas
There’s no doubt that solar energy is a cost-effective method of generating electricity for your home. But you may wonder, “how do I know if solar makes financial sense for me?”
The payback period and return on investment (ROI) on solar energy installation can vary significantly, thanks to installation costs, rooftop exposure to light, available incentives, electricity costs, location, and financing options. As such, calculating the financial specifics of a solar investment on your own can be difficult.
Not to worry, though; we’ll give you a breakdown of the size, ROI, payback period, and price per watt of an average solar energy system in Texas so you can have an idea of what to expect.
Solar payback and ROI for homeowners in Texas
The Solar Investment Tax Credit, property tax exemption, net metering programs, and other incentives and rebates make installing solar energy an attractive option in Texas. Here is what to expect if you decide to go solar in Texas.
Average system size: 11.5 kW
The average ROI of solar
The average ROI for a solar panel system in Texas is around 9% to 10%, which is one of the highest in the country.
The average payback period for solar
As a homeowner in Texas, you can expect your solar panel to pay for itself in 10-13 years, leaving you plenty of time to see a return on investment.
What’s the environmental impact?
Installing solar panels can reduce your household’s carbon footprint by as much as 75%. You can expect to offset about 12.7 tons of CO2 and save 296 trees annually.
Is solar a good investment for homeowners in Texas?
Installing solar panels is an excellent investment for homeowners in Texas. There’s plenty of sunshine in the state, which helps maximize solar energy production. Texas also has federal and state incentives you can benefit from, which can help offset the cost of installation. With High Bar Roofing, you don’t even have to put any money down. We’ll finance the entire solar system installation and handle everything from start to finish.
Request a solar consultation
There’s no better time than now to make the switch to solar. Take advantage of the available incentives and any of our financing options to go solar and begin saving on energy today. Request a free solar consultation to get the ROI and solar payback for your solar system.