Solar Panel Cost Guide in Little Elm, TX (2023 Update)
- Little Elm Solar Installation Cost: $14,419
- 25-Year Savings: $20,688
- Payback Period: 10.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Little Elm
Find out what the average cost of installing solar panels is in Little Elm.
The average cost of solar panels in Little Elm is 2.69 per watt. The average Little Elm homeowner needs a 7.7-kilowatt system, which would cost about $14,424 with the federal tax credit, or $20,626 before the 30% tax credit is applied.
These figures are only averages, and your own solar costs will most likely differ based on your energy needs and what company you choose to go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $17,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Little Elm
| Year | Return on Investment |
|---|---|
| 1 years | $-14,302 |
| 3 years | $-14,068 |
| 5 years | $-13,834 |
| 7 years | $-13,600 |
| 9 years | $-13,366 |
| 11 years | $-13,132 |
| 13 years | $-12,898 |
| 15 years | $-12,664 |
| 17 years | $-12,430 |
| 19 years | $-12,196 |
| 21 years | $-11,962 |
| 23 years | $-11,728 |
| 25 years | $-11,494 |
Top Solar Installers in Little Elm
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your swap to solar power much easier. Plus, if you're not certain what type of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Little Elm
Factors that Affect Solar Panel Costs in Little Elm
There are several criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
When it comes to estimating the cost of a solar panel 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 largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $2,690 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Little Elm average.
Solar Financing Terms
Many homeowners find the average cost of solar in Little Elm to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Little Elm, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Little Elm are more knowledgeable about local solar incentives and can help you take advantage of 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 | $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
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Different companies offer various brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: If you're concerned about the endurance of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- 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 past 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
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?
The average cost of solar panels in Little Elm 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 stuff 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 Little Elm?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house 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.