Solar Panel Cost Guide in Lubbock, TX (2023 Update)
- Lubbock Solar Installation Cost: $13,237
- 25-Year Savings: $24,712
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Lubbock
We break down average solar pricing in Lubbock.
While the national average of solar panels is $2.66 per watt, solar panels in Lubbock typically cost about 2.69. Since a 7.0-kW system is needed to cover the energy usage of a typical home in Lubbock, the average price of going solar will be about $13,237 after claiming the federal solar tax credit of 30%.
The true cost of your system can go above or below the average in Lubbock based on several factors, such as the model of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a solid investment. The average homeowner in Lubbock can save around $21,000 on their electricity bills over 20 years.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lubbock
| Year | Return on Investment |
|---|---|
| 1 years | $-11,720 |
| 3 years | $-8,684 |
| 5 years | $-5,648 |
| 7 years | $-2,612 |
| 9 years | $424 |
| 11 years | $3,460 |
| 13 years | $6,496 |
| 15 years | $9,532 |
| 17 years | $12,568 |
| 19 years | $15,604 |
| 21 years | $18,640 |
| 23 years | $21,676 |
| 25 years | $24,712 |
Top Solar Installers in Lubbock
Many homeowners decide to use a solar panel company since trying to put up solar panels by yourself can be hard. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for you.
Working with a vetted solar company can help your solar project go smoothly. 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 Lubbock
Factors that Affect Solar Panel Costs in Lubbock
For many Lubbock homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Lubbock, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,690. There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Lubbock homeowners choose to finance their solar panel systems to offset upfront costs. 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can influence how much it costs. Lubbock's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $20,649 | 9.1 years |
| 8 kW | $2.74 | $15,365 | $27,834 | 8.9 years |
| 10 kW | $2.69 | $18,830 | $35,169 | 8.7 years |
| 12 kW | $2.64 | $22,144 | $42,654 | 8.5 years |
| 14 kW | $2.58 | $25,308 | $50,291 | 8.4 years |
| 16 kW | $2.53 | $28,320 | $58,078 | 8.2 years |
| 18 kW | $2.47 | $31,182 | $66,015 | 8.0 years |
| 20 kW | $2.42 | $33,894 | $74,103 | 7.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
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 Lubbock, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lubbock?
The average cost of solar panels in Lubbock is about $13,450 for a 5-kW system and $26,900 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lubbock?
Leasing solar panels can be an appealing choice, because it commonly 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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.