Solar Panel Cost Guide in Lake Worth, TX (2023 Update)
- Lake Worth Solar Installation Cost: $14,407
- 25-Year Savings: $22,781
- Payback Period: 9.7 Years
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Updated September 15, 2023
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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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Worth, the average cost of solar panels is 2.69 per watt. Using this figure, a typical 7.7-kW system would cost about $14,405 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with. With average savings of about $19,000 on power bills over 20 years, many homeowners in Lake Worth find investing in solar can pay off big.
You can click the button below to get connected with a top solar installer 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 | $-12,986 |
| 3 years | $-10,143 |
| 5 years | $-7,301 |
| 7 years | $-4,459 |
| 9 years | $-1,617 |
| 11 years | $1,225 |
| 13 years | $4,067 |
| 15 years | $6,909 |
| 17 years | $9,752 |
| 19 years | $12,594 |
| 21 years | $15,436 |
| 23 years | $18,278 |
| 25 years | $21,120 |
Top Solar Installers in Lake Worth
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make your switch to solar power much easier. Local solar companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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
While the average cost of a solar system in Lake Worth is $14,405, your actual cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can increase or decrease your cost 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, higher efficiency could save you more in the long run on your energy bills. Additionally, extra 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 too costly, even if the investment pays off over time. Thankfully, almost 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 due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies operating in Lake Worth, and each can charge different amounts for labor and equipment. Additionally, some companies in Lake Worth have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $17,413 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,519 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,775 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,182 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,740 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,448 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,307 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,317 | 8.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: The kind of solar panel you'd like to get plays a part in which company you should choose, since different companies provide different panels.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- 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 certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous 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 Lake Worth, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lake Worth?
This is a tough question to answer precisely, 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 additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Lake Worth?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Lake Worth?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using 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.