Solar Panel Cost Guide in Canyon Lake, TX (2024 Update)
- Canyon Lake Solar Installation Cost: $17,599
- 25-Year Savings: $21,930
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Canyon Lake
Let’s have a look at the average cost of solar panels in Canyon Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Canyon Lake, the typical cost of a solar system is 3 per watt.The average solar panel system size in Canyon Lake is around 7.6 kilowatts, meaning a cost of about $17,599 for a solar installation, or $25,167 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Canyon Lake homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing a solar system is a solid investment. The average homeowner in Canyon Lake can save around $18,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,246 |
| 3 years | $-13,539 |
| 5 years | $-10,832 |
| 7 years | $-8,125 |
| 9 years | $-5,418 |
| 11 years | $-2,711 |
| 13 years | $-5 |
| 15 years | $2,702 |
| 17 years | $5,409 |
| 19 years | $8,116 |
| 21 years | $10,823 |
| 23 years | $13,530 |
| 25 years | $16,237 |
Top Solar Installers in Canyon Lake
Although you can install solar panels yourself, it takes extra energy and handiness. For that reason, almost all homeowners choose to hire a solar panel installer. The payback period of solar panels will vary depending on factors like your location and energy usage, but working with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
If you’d like to make the switch to solar but still aren’t certain which solar system installer to go with, here are our recommendations for providers near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
The cost of installing a solar system in Canyon Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Canyon Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by about $3,330 for each additional kilowatt you need.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. However, higher efficiency could save you more in the long run on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Canyon Lake average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Canyon Lake, and each can charge different amounts for labor and equipment.Additionally, some companies in Canyon Lake are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.46 | $14,545 | $14,180 | 12.7 years |
| 8 kW | $3.40 | $19,021 | $19,279 | 12.4 years |
| 10 kW | $3.33 | $23,310 | $24,565 | 12.2 years |
| 12 kW | $3.26 | $27,413 | $30,037 | 11.9 years |
| 14 kW | $3.20 | $31,329 | $35,696 | 11.7 years |
| 16 kW | $3.13 | $35,058 | $41,542 | 11.4 years |
| 18 kW | $3.06 | $38,601 | $47,574 | 11.2 years |
| 20 kW | $3.00 | $41,958 | $53,792 | 11.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you aren’t 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.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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
How much does it cost to install solar panels in Canyon Lake?
The average cost of solar panels in Canyon Lake is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost 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 Canyon Lake?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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 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.