Solar Panel Cost Guide in Lakehills, TX (2023 Update)
- Lakehills Solar Installation Cost: $14,179
- 25-Year Savings: $22,425
- Payback Period: 9.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lakehills
We break down average solar pricing in Lakehills.
The average cost of solar panels in Lakehills is 2.69 per watt. To account for the typical energy usage of the average home in Lakehills, most homeowners require a 7.5-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,179, or $20,276 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Lakehills homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the high upfront cost, the average Lakehills homeowner can save about $18,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar installer in Lakehills, you can click the button below.
Solar savings over time in Lakehills
| Year | Return on Investment |
|---|---|
| 1 years | $-12,715 |
| 3 years | $-9,786 |
| 5 years | $-6,858 |
| 7 years | $-3,930 |
| 9 years | $-1,001 |
| 11 years | $1,927 |
| 13 years | $4,855 |
| 15 years | $7,784 |
| 17 years | $10,712 |
| 19 years | $13,640 |
| 21 years | $16,569 |
| 23 years | $19,497 |
| 25 years | $22,425 |
Top Solar Installers in Lakehills
DIY 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. Hiring an installer can make converting to solar power much easier. Plus, if you're not certain what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar panel company to go with, here are our recommendations for providers nearby:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Lakehills
Factors that Affect Solar Panel Costs in Lakehills
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Lakehills: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,690. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Lakehills, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Lakehills, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger 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 | $17,420 | 10.1 years |
| 8 kW | $2.74 | $15,365 | $23,528 | 9.9 years |
| 10 kW | $2.69 | $18,830 | $29,786 | 9.7 years |
| 12 kW | $2.64 | $22,144 | $36,195 | 9.5 years |
| 14 kW | $2.58 | $25,308 | $42,755 | 9.3 years |
| 16 kW | $2.53 | $28,320 | $49,466 | 9.1 years |
| 18 kW | $2.47 | $31,182 | $56,327 | 8.9 years |
| 20 kW | $2.42 | $33,894 | $63,338 | 8.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Lakehills, TX Solar Cost FAQs
How much does it cost to install solar panels in Lakehills?
The average cost of solar panels in Lakehills is about $13,450 for a 5-kW system and $26,900 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.
Can you get solar panels for free in Lakehills?
A solar panel system isn't free in Lakehills, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lakehills is currently $169,700, which means you can expect a value of about $6,958 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lakehills is a rewarding investment.
How many solar panels should I get 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.