Solar Panel Cost Guide in Canyon Lake, TX (2023 Update)
- Canyon Lake Solar Installation Cost: $14,217
- 25-Year Savings: $21,930
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Canyon Lake
We go over average solar pricing in Canyon Lake.
The average cost of a solar system in Canyon Lake is 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.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more. For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $18,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Canyon Lake for a quote for your home.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-14,096 |
| 3 years | $-13,855 |
| 5 years | $-13,614 |
| 7 years | $-13,373 |
| 9 years | $-13,132 |
| 11 years | $-12,891 |
| 13 years | $-12,651 |
| 15 years | $-12,410 |
| 17 years | $-12,169 |
| 19 years | $-11,928 |
| 21 years | $-11,687 |
| 23 years | $-11,446 |
| 25 years | $-11,205 |
Top Solar Installers in Canyon Lake
When switching to solar energy, many homeowners decide to go with a solar installer since putting up solar panels yourself can be a challenging project. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your home.
If you're on the hunt for a solar installer in Canyon Lake, we've put together 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
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
Even though the average cost of a solar system in Canyon Lake is $14,217, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,690 per kilowatt in Canyon Lake. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Canyon Lake, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of 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 Canyon Lake to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time because of interest. Although solar loans make switching to solar energy more accessible for Canyon Lake homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. 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 panel installation company you pick will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies undercut 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
The solar installer you go with will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability 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.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- 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.
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?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Canyon Lake?
You can't get solar panels for free in Canyon Lake. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Canyon Lake is currently $313,912, so you can look forward to a value of about $12,870 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Canyon Lake is a worthwhile investment.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.