Solar Panel Cost Guide in Lewisville, TX (2023 Update)
- Lewisville Solar Installation Cost: $14,452
- 25-Year Savings: $18,441
- Payback Period: 11.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lewisville
Find out how much it might cost to go solar in Lewisville.
Although the national average of solar panels is $2.66 per watt, solar panels in Lewisville typically cost about 2.69. The average Lewisville homeowner needs a 7.7-kilowatt system, which would cost about $14,443 with the federal tax credit, or $20,653 before the 30% tax credit is applied.
How much you pay can be above or below the average in Lewisville depending on several factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Lewisville can save around $16,000 on their energy bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Lewisville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,165 |
| 3 years | $-10,592 |
| 5 years | $-8,019 |
| 7 years | $-5,446 |
| 9 years | $-2,873 |
| 11 years | $-300 |
| 13 years | $2,273 |
| 15 years | $4,846 |
| 17 years | $7,419 |
| 19 years | $9,992 |
| 21 years | $12,565 |
| 23 years | $15,138 |
| 25 years | $17,711 |
Top Solar Installers in Lewisville
Trying to install solar panels yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar companies provide can be useful as well, especially if you aren't sure what brand of solar equipment you need.
You can work with a local solar installer to get a free quote 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 Lewisville
Factors that Affect Solar Panel Costs in Lewisville
Although the average cost of a solar system in Lewisville is $14,443, your actual cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Lewisville, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable. While solar loans make adopting solar energy more accessible for Lewisville homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies in Lewisville, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,965 | 11.4 years |
| 8 kW | $2.74 | $15,365 | $18,921 | 11.2 years |
| 10 kW | $2.69 | $18,830 | $24,028 | 11.0 years |
| 12 kW | $2.64 | $22,144 | $29,285 | 10.8 years |
| 14 kW | $2.58 | $25,308 | $34,693 | 10.5 years |
| 16 kW | $2.53 | $28,320 | $40,252 | 10.3 years |
| 18 kW | $2.47 | $31,182 | $45,961 | 10.1 years |
| 20 kW | $2.42 | $33,894 | $51,822 | 9.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Lewisville, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
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 Lewisville, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lewisville?
This is a difficult question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Lewisville?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The downside 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 maximize your savings.
Does Lewisville have a net metering program?
Most states offer 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 many solar panels do I need to power 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 generally produce about 250 to 400 watt-hours per hour, the average household 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.