Solar Panel Cost Guide in Canyon Lake, TX (Mar 2023)
- Canyon Lake Solar Installation Cost: $14,217
- 25-Year Savings: $21,930
- Payback Period: 9.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Canyon Lake
Here's how much it might cost to make the switch to solar in Canyon Lake.
The national average cost of solar panels is $2.66 per watt, but in Canyon Lake it's 2.69 per watt. The average solar panel system size in Canyon Lake is around 7.5 kilowatts, meaning a cost of about $14,217 for a solar installation, or $20,330 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Canyon Lake based on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Canyon Lake find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar installer in Canyon Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-12,771 |
| 3 years | $-9,879 |
| 5 years | $-6,987 |
| 7 years | $-4,096 |
| 9 years | $-1,204 |
| 11 years | $1,688 |
| 13 years | $4,580 |
| 15 years | $7,471 |
| 17 years | $10,363 |
| 19 years | $13,255 |
| 21 years | $16,146 |
| 23 years | $19,038 |
| 25 years | $21,930 |
Top Solar Installers in Canyon Lake
Trying to install solar panels by yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost 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 (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
For many Canyon Lake homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Canyon Lake, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,690. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Canyon Lake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Canyon Lake to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. Even though solar loans make adopting solar energy more accessible for Canyon Lake homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Canyon Lake, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $2.80 | $11,750 | $16,975 | 10.2 years |
| 8 kW | $2.74 | $15,365 | $22,935 | 10.0 years |
| 10 kW | $2.69 | $18,830 | $29,045 | 9.8 years |
| 12 kW | $2.64 | $22,144 | $35,306 | 9.6 years |
| 14 kW | $2.58 | $25,308 | $41,717 | 9.4 years |
| 16 kW | $2.53 | $28,320 | $48,280 | 9.2 years |
| 18 kW | $2.47 | $31,182 | $54,992 | 9.0 years |
| 20 kW | $2.42 | $33,894 | $61,856 | 8.8 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: Before signing a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a solid 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which installer you should opt for, since different companies have different panels.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Canyon Lake, TX Solar Cost FAQs
What is the average cost of installing solar panels in Canyon Lake?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Canyon Lake?
A solar panel system isn't free in Canyon Lake, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Canyon Lake?
Solar panels can be a good investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size 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 usually produce about 250 to 400 watt-hours per hour, the average home 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.