Solar Panel Cost Guide in Lubbock, TX (2024 Update)
- Lubbock Solar Installation Cost: $16,382
- 25-Year Savings: $24,716
- Payback Period: 10.8 Years
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Average Cost of Solar Panels in Lubbock
Find out what the average cost of a solar system is in Lubbock.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lubbock, the average cost of a solar system is 3 per watt.Since a 7.0-kW system is needed to cover the energy consumption of a typical home in Lubbock, the average price of going solar will be about $16,382 after claiming the federal solar tax credit of 0.
These figures are only averages, and how much solar costs for you will most likely look different based on your energy needs and what company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $21,000 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 Lubbock
| Year | Return on Investment |
|---|---|
| 1 years | $-15,059 |
| 3 years | $-12,414 |
| 5 years | $-9,769 |
| 7 years | $-7,123 |
| 9 years | $-4,478 |
| 11 years | $-1,833 |
| 13 years | $812 |
| 15 years | $3,458 |
| 17 years | $6,103 |
| 19 years | $8,748 |
| 21 years | $11,393 |
| 23 years | $14,039 |
| 25 years | $16,684 |
Top Solar Installers in Lubbock
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be challenging. Another upside of utilizing a solar installer is that they can help you maximize your return of investment by lowering your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you're on the hunt for a solar installer in Lubbock, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
While the average cost of a solar system in Lubbock is $16,382, your final cost may differ. There are many factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Lubbock homeowners decide to finance their solar panel systems to offset upfront costs.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Companies that 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 cost more. It’s best to do some research and decide on the company that has the products, warranties and services you want 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 | $3.46 | $14,545 | $17,854 | 11.2 years |
| 8 kW | $3.40 | $19,021 | $24,178 | 11.0 years |
| 10 kW | $3.33 | $23,310 | $30,689 | 10.8 years |
| 12 kW | $3.26 | $27,413 | $37,386 | 10.6 years |
| 14 kW | $3.20 | $31,329 | $44,270 | 10.4 years |
| 16 kW | $3.13 | $35,058 | $51,340 | 10.1 years |
| 18 kW | $3.06 | $38,601 | $58,596 | 9.9 years |
| 20 kW | $3.00 | $41,958 | $66,039 | 9.7 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before deciding.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project timeline.
- 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.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
How much does it cost to install solar panels in Lubbock?
The average cost of solar panels in Lubbock is about $16,650 for a 5-kW system and $33,300 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 use.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is it worth going solar in Lubbock?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.