17 Best Solar Companies in Lewisville, TX (Jun 2022 Review)

The Cost and Benefits of Solar in Lewisville

While solar panels can save you a decent chunk of change on power bills over time, it's necessary to take into consideration the upfront costs. Some key factors that affect how much it will cost to install a solar panel system on your home and how much money you could save over time are:

• Choice of solar panels: The kind of solar panels you want will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Electricity consumption: The average home in Lewisville uses a lot of energy, and therefore may see more savings on electricity bills than other places.
• Average daily sunlight: Since Lewisville gets lots of sunlight, your solar panel system will most likely be able to generate enough energy to power your whole home, which influences how much your solar panels can save you on your electricity bills.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, allows you to deduct 26% of the cost of installing your solar panel system from your taxes. Additionally, not including incentives, you can save about $16,000 over 20 years on your energy bills.

Though a solar panel system costs a good chunk of money upfront, it can save you thousands of dollars in the long term. The question of how much, though, depends on a number of factors, like the size of your house and your current power bills.

Solar Incentives in Lewisville

Although solar power is typically a big investment, it can save you a significant amount of money over several years because of lower power bills and government incentives. No matter what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 26% of how much your solar project cost when you file taxes, lowering the amount of taxes you owe that year. Plus, there may be some local incentives that can save you some extra money too. Check out the table below to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Lewisville

Installing solar panels can have a beneficial effect on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lewisville, though. Regardless of your location, you can help save the environment by switching to solar energy, but homes that consume more energy will have a bigger impact. Since solar panels don't release greenhouse gas emissions into the atmosphere when creating electricity, they're a good alternative to traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 80 pounds each year. For people who want to help the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.