Solar Panel Cost Guide in Lake Worth, TX (2024 Update)
- Lake Worth Solar Installation Cost: $17,834
- 25-Year Savings: $22,781
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Lake Worth
Find out how much it might cost to make the switch to solar in Lake Worth.
The national average cost of solar panels is $2.66 per watt, but in Lake Worth it’s 3 per watt.The average solar panel system size in Lake Worth is around 7.7 kilowatts, meaning a cost of about $17,834 for a solar installation, or $25,503 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on power bills.
You can click the button below to get connected with a top solar company in Lake Worth that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake Worth
| Year | Return on Investment |
|---|---|
| 1 years | $-16,413 |
| 3 years | $-13,571 |
| 5 years | $-10,729 |
| 7 years | $-7,887 |
| 9 years | $-5,045 |
| 11 years | $-2,202 |
| 13 years | $640 |
| 15 years | $3,482 |
| 17 years | $6,324 |
| 19 years | $9,166 |
| 21 years | $12,008 |
| 23 years | $14,850 |
| 25 years | $17,693 |
Top Solar Installers in Lake Worth
Many homeowners decide to use a solar panel installer since figuring out how to install solar panels yourself can be time-consuming. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance in the long run.
If you're searching for a solar company in Lake Worth, we've compiled a list of our top suggestions here:
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 Worth
Factors that Affect Solar Panel Costs in Lake Worth
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Lake Worth: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,330. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Lake Worth average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lake Worth to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the massive popularity of renewable energy solutions in Lake Worth, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.46 | $14,545 | $14,618 | 12.5 years |
| 8 kW | $3.40 | $19,021 | $19,863 | 12.2 years |
| 10 kW | $3.33 | $23,310 | $25,295 | 12.0 years |
| 12 kW | $3.26 | $27,413 | $30,914 | 11.7 years |
| 14 kW | $3.20 | $31,329 | $36,719 | 11.5 years |
| 16 kW | $3.13 | $35,058 | $42,710 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $48,888 | 11.0 years |
| 20 kW | $3.00 | $41,958 | $55,253 | 10.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
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 Worth, TX Solar Cost FAQs
How much does it cost to install solar panels in Lake Worth?
The average cost of solar panels in Lake Worth 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 things like the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Does Lake Worth have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Lake Worth?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.