Solar Panel Cost Guide in Lacy Lakeview, TX (2023 Update)
- Lacy Lakeview Solar Installation Cost: $14,292
- 25-Year Savings: $17,079
- Payback Period: 11.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lacy Lakeview
Find out what the average cost of solar panel installation is in Lacy Lakeview.
The average cost of solar panels in Lacy Lakeview is 2.69 per watt. The average solar panel system size in Lacy Lakeview is around 7.6 kilowatts, meaning a cost of about $14,292 for a solar installation, or $20,438 before the 30% federal solar tax credit is applied.
The true price you pay can go above or below the average in Lacy Lakeview based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Lacy Lakeview find installing solar panels can pay off big.
Click the button below to get connected to a reputable solar panel company in Lacy Lakeview for a custom quote.
Solar savings over time in Lacy Lakeview
| Year | Return on Investment |
|---|---|
| 1 years | $-13,037 |
| 3 years | $-10,527 |
| 5 years | $-8,018 |
| 7 years | $-5,508 |
| 9 years | $-2,998 |
| 11 years | $-489 |
| 13 years | $2,021 |
| 15 years | $4,531 |
| 17 years | $7,040 |
| 19 years | $9,550 |
| 21 years | $12,060 |
| 23 years | $14,570 |
| 25 years | $17,079 |
Top Solar Installers in Lacy Lakeview
Although you can install solar panels on your own, it takes extra time and expertise. That's one of the reasons almost all homeowners choose a solar panel installer. Solar companies provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers in Lacy Lakeview:
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 Lacy Lakeview
Factors that Affect Solar Panel Costs in Lacy Lakeview
The cost of installing a solar system in Lacy Lakeview can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lacy Lakeview, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Lacy Lakeview, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and find a company that has the products, warranties and services you want and also is 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 | $2.80 | $11,750 | $13,059 | 11.8 years |
| 8 kW | $2.74 | $15,365 | $17,713 | 11.6 years |
| 10 kW | $2.69 | $18,830 | $22,518 | 11.4 years |
| 12 kW | $2.64 | $22,144 | $27,473 | 11.2 years |
| 14 kW | $2.58 | $25,308 | $32,579 | 10.9 years |
| 16 kW | $2.53 | $28,320 | $37,836 | 10.7 years |
| 18 kW | $2.47 | $31,182 | $43,243 | 10.5 years |
| 20 kW | $2.42 | $33,894 | $48,801 | 10.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly influences your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Lacy Lakeview, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lacy Lakeview?
The average cost of solar panels in Lacy Lakeview is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lacy Lakeview?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Lacy Lakeview have a net metering program?
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 energy bills.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.