Solar Panel Cost Guide in Lewisville, TX (Aug 2022)
- Lewisville Solar Installation Cost: $15,268
- 25-Year Savings: $17,625
- Payback Period: 11.6 Years
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Updated 7/19/2022
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Average Cost of Solar Panels in Lewisville
See how much it might cost to switch to solar power in Lewisville.
The national average cost of solar panels is $2.66 per watt, but in Lewisville it's $3 per watt. Because a 7.7-kW system is needed to cover the energy consumption of a typical home in Lewisville, the average price of going solar will be about $15,268 before claiming the federal solar tax credit.
How much you pay can be above or below the average in Lewisville depending on a few factors, such as the model of solar panels you choose and the solar company you hire. With typical savings of about $16,000 on energy bills over 20 years, many homeowners in Lewisville find going solar can pay off big.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lewisville
| Year | Return on Investment |
|---|---|
| 1 years | $-13,952 |
| 3 years | $-11,321 |
| 5 years | $-8,689 |
| 7 years | $-6,058 |
| 9 years | $-3,426 |
| 11 years | $-795 |
| 13 years | $1,837 |
| 15 years | $4,468 |
| 17 years | $7,100 |
| 19 years | $9,731 |
| 21 years | $12,362 |
| 23 years | $14,994 |
| 25 years | $17,625 |
Top Solar Installers in Lewisville
Installing solar panels by yourself can be a dangerous undertaking, which is why using a solar installation company is a good option for many homeowners. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Lewisville, the EcoWatch team has compiled a list of our top suggestions here:
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 Lewisville
Factors that Affect Solar Panel Costs in Lewisville
There are a number of factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment Size
When it comes to estimating the cost of a solar system in Lewisville, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,690 for each additional kilowatt you need. The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to think 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 into a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Lewisville, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. It's wise to add 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 back the loan.
Solar Panel Installation Company
The solar panel installation company you select will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Lewisville know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $2.80 | $12,421 | $13,293 | 12.1 years |
| 8 kW | $2.74 | $16,243 | $18,043 | 11.8 years |
| 10 kW | $2.69 | $19,906 | $22,952 | 11.6 years |
| 12 kW | $2.64 | $23,409 | $28,020 | 11.4 years |
| 14 kW | $2.58 | $26,754 | $33,247 | 11.1 years |
| 16 kW | $2.53 | $29,939 | $38,634 | 10.9 years |
| 18 kW | $2.47 | $32,964 | $44,180 | 10.7 years |
| 20 kW | $2.42 | $35,831 | $49,885 | 10.5 years |
Solar Incentives in Lewisville
| Name | CoServ - Solar Energy Rebate |
| Incentive Amount | Rebates tiered based on kW installed |
| Incentive Max | $3,100 per Member |
| Website | Visit here |
| More Info | Click here |
| Name | Renewable Energy Systems Property Tax Exemption |
| Incentive Amount | 100% |
| Website | Visit here |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
How to Save on Solar Panels
There are a large number of companies available in Lewisville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should choose, since different companies have access to different panels.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous 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 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 $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 type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Lewisville?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Lewisville?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.
