Solar Panel Cost Guide in Lewisville, TX (Mar 2023)
- Lewisville Solar Installation Cost: $14,443
- 25-Year Savings: $18,451
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lewisville
We break down average solar pricing in Lewisville.
The average cost of a solar system in Lewisville is 2.69 per watt. 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.
The true cost of your system can go above or below the average in Lewisville depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire. For most homeowners, the upfront cost of solar panels is worth paying. On average Lewisville homeowners see about $16,000 in savings on utility bills over 20 years.
For a customized 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 | $-13,127 |
| 3 years | $-10,495 |
| 5 years | $-7,864 |
| 7 years | $-5,232 |
| 9 years | $-2,601 |
| 11 years | $30 |
| 13 years | $2,662 |
| 15 years | $5,293 |
| 17 years | $7,925 |
| 19 years | $10,556 |
| 21 years | $13,188 |
| 23 years | $15,819 |
| 25 years | $18,451 |
Top Solar Installers in Lewisville
Although it's possible to install solar panels on your own, it requires extra effort and knowledge. For that reason, most people choose to go with a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Lewisville:
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
For many Lewisville homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Lewisville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lewisville, one of the most crucial 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 consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by about $2,690 for each additional kilowatt you need. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lewisville to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company 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. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Lewisville is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services at different price points. Additionally, some companies in Lewisville have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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
Since the type of solar panels and the installer you choose significantly affects your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Installation Process: When making the switch to solar energy, it's crucial to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process will go and the project completion timeline.
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
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. Broadly 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Lewisville?
You can't get solar panels for free in Lewisville. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
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 the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.