Solar Panel Cost Guide in Lake Dallas, TX (2024 Update)
- Lake Dallas Solar Installation Cost: $17,850
- 25-Year Savings: $18,474
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Lake Dallas
Let’s take a look at the average cost of solar panels in Lake Dallas.
While the national average of solar panels is $2.66 per watt, solar panels in Lake Dallas generally cost about 3.To cover the typical energy needs of the average home in Lake Dallas, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,850, or $25,526 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar panels you want, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average Lake Dallas homeowners see about $16,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lake Dallas
| Year | Return on Investment |
|---|---|
| 1 years | $-16,564 |
| 3 years | $-13,991 |
| 5 years | $-11,418 |
| 7 years | $-8,845 |
| 9 years | $-6,272 |
| 11 years | $-3,698 |
| 13 years | $-1,125 |
| 15 years | $1,448 |
| 17 years | $4,021 |
| 19 years | $6,594 |
| 21 years | $9,167 |
| 23 years | $11,740 |
| 25 years | $14,313 |
Top Solar Installers in Lake Dallas
Many homeowners opt for a solar installer since figuring out how to install solar panels on your own can be time-consuming. The expertise that solar installers provide can be helpful as well, particularly if you don’t quite know what type of solar equipment you need.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Lake Dallas
Factors that Affect Solar Panel Costs in Lake Dallas
There are several factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
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, you can expect your total to increase by about $3,330. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lake Dallas, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect your pricing. Lake Dallas’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies 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 with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into 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 | $3.46 | $14,545 | $11,227 | 14.1 years |
| 8 kW | $3.40 | $19,021 | $15,342 | 13.8 years |
| 10 kW | $3.33 | $23,310 | $19,644 | 13.6 years |
| 12 kW | $3.26 | $27,413 | $24,132 | 13.3 years |
| 14 kW | $3.20 | $31,329 | $28,807 | 13.0 years |
| 16 kW | $3.13 | $35,058 | $33,668 | 12.8 years |
| 18 kW | $3.06 | $38,601 | $38,716 | 12.5 years |
| 20 kW | $3.00 | $41,958 | $43,950 | 12.2 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, completion timeline incentives and warranties.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you opt for.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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 Lake Dallas, TX Solar Cost FAQs
How much does it cost to install 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 $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Lake Dallas?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The drawback 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.
How will having solar panels impact my home value?
Solar panels can increase your property’s value significantly 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% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 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.