Solar Panel Cost Guide in Lewisville, NC (2023 Update)
- Lewisville Solar Installation Cost: $12,393
- 25-Year Savings: $21,669
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lewisville
We go over average solar pricing in Lewisville.
Although the national average of solar panels is $2.66 per watt, solar panels in Lewisville typically cost about 2.54. To account for the typical energy needs of the average home in Lewisville, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs around $12,393, or $17,722 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The exact cost of making the switch to solar can vary based on a few factors, such as what size system you need, your energy consumption and what company you go with. Despite the large initial cost, the average Lewisville homeowner can save around $19,000 on their power bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar installer in your area for a customized quote.
Solar savings over time in Lewisville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,030 |
| 3 years | $-8,305 |
| 5 years | $-5,580 |
| 7 years | $-2,855 |
| 9 years | $-130 |
| 11 years | $2,595 |
| 13 years | $5,319 |
| 15 years | $8,044 |
| 17 years | $10,769 |
| 19 years | $13,494 |
| 21 years | $16,219 |
| 23 years | $18,944 |
| 25 years | $21,669 |
Top Solar Installers in Lewisville
Although it's possible to install solar panels on your own, it takes extra energy and handiness. That's why the majority of homeowners choose to hire a solar panel installer. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
See all of the solar companies in Lewisville
Factors that Affect Solar Panel Costs in Lewisville
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Lewisville: 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 to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $2,540. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Lewisville, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar company you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Lewisville, and each can charge different amounts for labor and equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that offers the products, warranties and services you want and also fits within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.64 | $11,095 | $18,206 | 9.5 years |
| 8 kW | $2.59 | $14,508 | $24,560 | 9.3 years |
| 10 kW | $2.54 | $17,780 | $31,055 | 9.1 years |
| 12 kW | $2.49 | $20,909 | $37,693 | 8.9 years |
| 14 kW | $2.44 | $23,896 | $44,473 | 8.7 years |
| 16 kW | $2.39 | $26,741 | $51,395 | 8.6 years |
| 18 kW | $2.34 | $29,444 | $58,460 | 8.4 years |
| 20 kW | $2.29 | $32,004 | $65,666 | 8.2 years |
How to Save on Solar Panels
The solar panel company you go with will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Outstanding Regional Installer
Renu Energy Solutions
- Excellent reputation
- Many financing options
- Representatives are experts on local policies
- No leases or PPAs
EcoWatch's Lewisville, NC Solar Cost FAQs
What is the average cost of installing solar panels in Lewisville?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $12,700 for a 5-kW system and $25,400 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lewisville?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.