Solar Panel Cost Guide in Lewisville, NC (2023 Update)
- Lewisville Solar Installation Cost: $12,401
- 25-Year Savings: $21,661
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lewisville
Let's take a look at the average cost of solar in Lewisville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lewisville, the typical cost of a solar system is 2.54 per watt. To cover 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.
These figures are only averages, and the cost of going solar for you will most likely look different based on your specific situation and what company you want to go with. Despite the high initial cost, the average Lewisville homeowner can save about $19,000 on their power bills over 20 years, which is one of the benefits of solar.
To get a free quote from a highly rated solar installation company in Lewisville, you can click the button below.
Solar savings over time in Lewisville
| Year | Return on Investment |
|---|---|
| 1 years | $-12,288 |
| 3 years | $-12,061 |
| 5 years | $-11,833 |
| 7 years | $-11,606 |
| 9 years | $-11,379 |
| 11 years | $-11,152 |
| 13 years | $-10,925 |
| 15 years | $-10,698 |
| 17 years | $-10,471 |
| 19 years | $-10,244 |
| 21 years | $-10,017 |
| 23 years | $-9,790 |
| 25 years | $-9,563 |
Top Solar Installers in Lewisville
Many homeowners choose to use a solar installation company since trying to install solar panels by yourself can be challenging. Companies can also provide access to quality options of the best solar panels and help you decide which one will be right for your family.
If you're searching for a solar company in Lewisville, we've compiled a list of our top suggestions here:
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
The cost of installing a solar system in Lewisville can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Lewisville, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lewisville to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in higher prices over time due to interest. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies in Lewisville, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $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 installer you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: Read the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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
How much does it cost to install solar panels in Lewisville?
This is a hard question to answer exactly, because the cost depends on many factors. Generally 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lewisville?
You can't get solar panels for free in Lewisville. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Lewisville?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Lewisville?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.