Solar Panel Cost Guide in Lake Dallas, TX (2023 Update)
- Lake Dallas Solar Installation Cost: $14,419
- 25-Year Savings: $18,474
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lake Dallas
Find out what the average cost of solar panels are in Lake Dallas.
The national average cost of solar panels is $2.66 per watt, but in Lake Dallas it's 2.69 per watt. The average solar panel system size in Lake Dallas is around 7.7 kilowatts, meaning a cost of about $14,424 for a solar installation, or $20,626 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Lake Dallas homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $16,000 on energy bills over 20 years, many homeowners in Lake Dallas find investing in solar can be quite rewarding.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lake Dallas
| Year | Return on Investment |
|---|---|
| 1 years | $-14,310 |
| 3 years | $-14,091 |
| 5 years | $-13,871 |
| 7 years | $-13,652 |
| 9 years | $-13,433 |
| 11 years | $-13,213 |
| 13 years | $-12,994 |
| 15 years | $-12,775 |
| 17 years | $-12,556 |
| 19 years | $-12,336 |
| 21 years | $-12,117 |
| 23 years | $-11,898 |
| 25 years | $-11,678 |
Top Solar Installers in Lake Dallas
When making the switch to solar, many homeowners prefer to use a solar installation company since handling can be a time-consuming project. Plus, if you're unsure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Lake Dallas
Factors that Affect Solar Panel Costs in Lake Dallas
For many Lake Dallas homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lake Dallas, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Lake Dallas, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lake Dallas, where sunlight is abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Lake Dallas offer solar loans, which reduce the initial cost of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $14,022 | 11.4 years |
| 8 kW | $2.74 | $15,365 | $18,998 | 11.2 years |
| 10 kW | $2.69 | $18,830 | $24,124 | 11.0 years |
| 12 kW | $2.64 | $22,144 | $29,401 | 10.7 years |
| 14 kW | $2.58 | $25,308 | $34,828 | 10.5 years |
| 16 kW | $2.53 | $28,320 | $40,406 | 10.3 years |
| 18 kW | $2.47 | $31,182 | $46,135 | 10.1 years |
| 20 kW | $2.42 | $33,894 | $52,014 | 9.9 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 select the right company for you, here are some tips to keep in mind:
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can look into your installer's reputation is by reading reviews.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Lake Dallas, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lake Dallas?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, 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 Lake Dallas?
A solar panel system isn't free in Lake Dallas, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.