Solar Panel Cost Guide in Lockhart, TX (Mar 2023)
- Lockhart Solar Installation Cost: $14,217
- 25-Year Savings: $21,678
- Payback Period: 9.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lockhart
Let's take a look at the average cost of solar in Lockhart.
The national average cost of solar panels is $2.66 per watt, but in Lockhart it's 2.69 per watt. The average solar panel system size in Lockhart is around 7.5 kilowatts, meaning a cost of about $14,217 for a solar installation, or $20,330 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lockhart homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lockhart
| Year | Return on Investment |
|---|---|
| 1 years | $-12,781 |
| 3 years | $-9,909 |
| 5 years | $-7,038 |
| 7 years | $-4,166 |
| 9 years | $-1,294 |
| 11 years | $1,577 |
| 13 years | $4,449 |
| 15 years | $7,320 |
| 17 years | $10,192 |
| 19 years | $13,064 |
| 21 years | $15,935 |
| 23 years | $18,807 |
| 25 years | $21,678 |
Top Solar Installers in Lockhart
When going solar, many homeowners opt to use a solar installation company since installing solar panels yourself can be a challenging project. Some solar installers, especially local ones, can help you better understand incentives in Lockhart, thereby optimizing your ROI.
There are various licensed solar professionals that can take care of your solar installation project. 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 Lockhart
Factors that Affect Solar Panel Costs in Lockhart
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Lockhart: 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 size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,690. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Lockhart, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lockhart is the company you choose to install your solar panel system. As with choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that offer a range of services at different costs. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for and also fits within your budget.
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 | $16,769 | 10.3 years |
| 8 kW | $2.74 | $15,365 | $22,660 | 10.1 years |
| 10 kW | $2.69 | $18,830 | $28,701 | 9.9 years |
| 12 kW | $2.64 | $22,144 | $34,893 | 9.7 years |
| 14 kW | $2.58 | $25,308 | $41,236 | 9.5 years |
| 16 kW | $2.53 | $28,320 | $47,730 | 9.3 years |
| 18 kW | $2.47 | $31,182 | $54,374 | 9.1 years |
| 20 kW | $2.42 | $33,894 | $61,168 | 8.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Lockhart, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Contract: Before you sign a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 Lockhart, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lockhart?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $13,450 for a 5-kW system and $26,900 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Lockhart have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.