Solar Panel Cost Guide in Lufkin, TX (2024 Update)
- Lufkin Solar Installation Cost: $17,800
- 25-Year Savings: $25,098
- Payback Period: 11.3 Years
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Average Cost of Solar Panels in Lufkin
Let’s take a look at the average cost of solar in Lufkin.
In Lufkin, solar panels cost about 3 per watt on average.To cover the typical energy needs of the average home in Lufkin, most homeowners require a 7.6-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,800, or $25,454 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Lufkin homeowner. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $20,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Lufkin
| Year | Return on Investment |
|---|---|
| 1 years | $-16,162 |
| 3 years | $-12,885 |
| 5 years | $-9,607 |
| 7 years | $-6,330 |
| 9 years | $-3,053 |
| 11 years | $224 |
| 13 years | $3,502 |
| 15 years | $6,779 |
| 17 years | $10,056 |
| 19 years | $13,333 |
| 21 years | $16,611 |
| 23 years | $19,888 |
| 25 years | $23,165 |
Top Solar Installers in Lufkin
Although you can install solar panels on your own, it requires extra effort and knowledge. For that reason, the majority of homeowners choose to go with a solar panel installer. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar company can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are a number of 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
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lufkin
Factors that Affect Solar Panel Costs in Lufkin
There are a number of factors that can influence your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,330 per kilowatt in Lufkin.The kind of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Lufkin homeowners opt to finance their solar panel systems to make paying for solar more affordable.While solar loans make switching to solar energy more accessible for Lufkin homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — 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 go with the company that provides 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 | $3.46 | $14,545 | $16,472 | 11.7 years |
| 8 kW | $3.40 | $19,021 | $22,336 | 11.5 years |
| 10 kW | $3.33 | $23,310 | $28,386 | 11.3 years |
| 12 kW | $3.26 | $27,413 | $34,623 | 11.0 years |
| 14 kW | $3.20 | $31,329 | $41,046 | 10.8 years |
| 16 kW | $3.13 | $35,058 | $47,656 | 10.6 years |
| 18 kW | $3.06 | $38,601 | $54,452 | 10.4 years |
| 20 kW | $3.00 | $41,958 | $61,435 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lufkin, TX Solar Cost FAQs
How much does it cost to install solar panels in Lufkin?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $16,650 for a 5-kW system and $33,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places 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.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Lufkin?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use them at a lower efficiency.
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.