Solar Panel Cost Guide in Lewisville, TX (2024 Update)
- Lewisville Solar Installation Cost: $17,890
- 25-Year Savings: $18,441
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Lewisville
Find out what the average cost of installing solar panels is in Lewisville.
In Lewisville, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Lewisville, most homeowners require a 7.7-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,890, or $25,583 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary quite a bit depending on several factors, such as how many panels you need, your energy consumption and what solar installer you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on utility bills.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lewisville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,604 |
| 3 years | $-14,031 |
| 5 years | $-11,458 |
| 7 years | $-8,885 |
| 9 years | $-6,312 |
| 11 years | $-3,739 |
| 13 years | $-1,166 |
| 15 years | $1,408 |
| 17 years | $3,981 |
| 19 years | $6,554 |
| 21 years | $9,127 |
| 23 years | $11,700 |
| 25 years | $14,273 |
Top Solar Installers in Lewisville
Trying to install solar panels yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some in Lewisville:
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 Lewisville
Factors that Affect Solar Panel Costs in Lewisville
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Lewisville: 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 cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use 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 $3,330.The brand and type of equipment you choose for your solar system can increase or decrease 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Lewisville, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your overall costs, so it’s vital to consider that 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
The solar company you opt for to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating in Lewisville, and each can charge different amounts for labor and equipment.Additionally, some companies in Lewisville have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $3.46 | $14,545 | $11,169 | 14.1 years |
| 8 kW | $3.40 | $19,021 | $15,265 | 13.9 years |
| 10 kW | $3.33 | $23,310 | $19,548 | 13.6 years |
| 12 kW | $3.26 | $27,413 | $24,017 | 13.3 years |
| 14 kW | $3.20 | $31,329 | $28,672 | 13.1 years |
| 16 kW | $3.13 | $35,058 | $33,514 | 12.8 years |
| 18 kW | $3.06 | $38,601 | $38,543 | 12.5 years |
| 20 kW | $3.00 | $41,958 | $43,758 | 12.2 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- Contract: Before signing a contract with a solar company, make sure to look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. Confirm that you understand how the installation process works and the completion timeline.
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 Lewisville, TX Solar Cost FAQs
How much does it cost to install solar panels in Lewisville?
The average cost of solar panels in Lewisville 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lewisville?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Lewisville?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Lewisville?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.