Solar Panel Cost Guide in Lake Dallas, TX (2024 Update)
- Lake Dallas Solar Installation Cost: $17,850
- 25-Year Savings: $18,474
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Lake Dallas
Let’s take a look at the average cost of solar panels in Lake Dallas.
The national average cost of solar panels is $2.66 per watt, but in Lake Dallas it’s 3 per watt.To cover the typical energy usage of the average home in Lake Dallas, most homeowners require a 7.7-kilowatt system. Using the figure above, a solar installation costs about $17,850, or $25,526 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lake Dallas homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find adopting solar power is a solid investment. The average homeowner in Lake Dallas can save about $16,000 on their power bills over 20 years.
To receive a free estimate from a vetted solar installation company in Lake Dallas, you can click the button below.
Solar savings over time in Lake Dallas
| Year | Return on Investment |
|---|---|
| 1 years | $-16,564 |
| 3 years | $-13,991 |
| 5 years | $-11,418 |
| 7 years | $-8,845 |
| 9 years | $-6,272 |
| 11 years | $-3,698 |
| 13 years | $-1,125 |
| 15 years | $1,448 |
| 17 years | $4,021 |
| 19 years | $6,594 |
| 21 years | $9,167 |
| 23 years | $11,740 |
| 25 years | $14,313 |
Top Solar Installers in Lake Dallas
Trying to install solar panels yourself can be a stressful undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you aren’t sure what kind of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Lake Dallas, we've compiled a list of our top suggestions here:
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 Lake Dallas
Factors that Affect Solar Panel Costs in Lake Dallas
Even though the average cost of a solar system in Lake Dallas is $17,850, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Lake Dallas is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Lake Dallas know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $3.46 | $14,545 | $11,227 | 14.1 years |
| 8 kW | $3.40 | $19,021 | $15,342 | 13.8 years |
| 10 kW | $3.33 | $23,310 | $19,644 | 13.6 years |
| 12 kW | $3.26 | $27,413 | $24,132 | 13.3 years |
| 14 kW | $3.20 | $31,329 | $28,807 | 13.0 years |
| 16 kW | $3.13 | $35,058 | $33,668 | 12.8 years |
| 18 kW | $3.06 | $38,601 | $38,716 | 12.5 years |
| 20 kW | $3.00 | $41,958 | $43,950 | 12.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, make sure to read it through fully 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 component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which brand 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 offerings before deciding.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 Lake Dallas, TX Solar Cost FAQs
How much does it cost to install solar panels in Lake Dallas?
The average cost of solar panels in Lake Dallas is about $16,650 for a 5-kW system and $33,300 for a 10-kW system before the ITC, but the actual cost will depend on certain factors 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 Lake Dallas?
Leasing solar panels can be an option if you can’t pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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 bang for your buck from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value 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 many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household 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.