Solar Panel Cost Guide in Little Elm, TX (Mar 2023)
- Little Elm Solar Installation Cost: $14,424
- 25-Year Savings: $20,684
- Payback Period: 10.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Little Elm
We go over average solar pricing in Little Elm.
Although the national average of solar panels is $2.66 per watt, solar panels in Little Elm generally cost about 2.69. Because a 7.7-kW system is needed to cover the energy usage of a typical home in Little Elm, the average price of going solar will be about $14,424 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you will most likely differ based on your specific situation and what company you go with. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $17,000 over 20 years on electricity bills.
You can click the button below to get connected with a vetted solar company in Little Elm that can help you get a more accurate cost estimate for your home.
Solar savings over time in Little Elm
| Year | Return on Investment |
|---|---|
| 1 years | $-13,019 |
| 3 years | $-10,211 |
| 5 years | $-7,402 |
| 7 years | $-4,594 |
| 9 years | $-1,785 |
| 11 years | $1,024 |
| 13 years | $3,832 |
| 15 years | $6,641 |
| 17 years | $9,450 |
| 19 years | $12,258 |
| 21 years | $15,067 |
| 23 years | $17,876 |
| 25 years | $20,684 |
Top Solar Installers in Little Elm
Installing solar panels by yourself can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your family.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Little Elm
Factors that Affect Solar Panel Costs in Little Elm
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Little Elm: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Little Elm, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,690 for each additional kilowatt you need. The brand and type of equipment you want for your solar system can increase or decrease 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 can expect a higher equipment cost, but this can typically lead to more 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
If paying for solar panels out of pocket is too expensive, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Little Elm, you'll have plenty of options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $15,758 | 10.7 years |
| 8 kW | $2.74 | $15,365 | $21,312 | 10.5 years |
| 10 kW | $2.69 | $18,830 | $27,016 | 10.3 years |
| 12 kW | $2.64 | $22,144 | $32,871 | 10.1 years |
| 14 kW | $2.58 | $25,308 | $38,877 | 9.9 years |
| 16 kW | $2.53 | $28,320 | $45,033 | 9.7 years |
| 18 kW | $2.47 | $31,182 | $51,341 | 9.4 years |
| 20 kW | $2.42 | $33,894 | $57,798 | 9.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies offer different brands and types of panels. If you know you want a specific brand, make sure the solar panel company you're considering has it.
- Contract: Review the contract terms carefully to make sure you understand the overall cost, completion timeline rebates and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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 Little Elm, TX Solar Cost FAQs
How much does it cost to install solar panels in Little Elm?
This is a hard question to answer precisely, 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 be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Little Elm?
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 can't take advantage of many solar incentives. Also your property 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 Little Elm?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Little Elm?
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 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.