Solar Panel Cost Guide in Lancaster, TX (2024 Update)
- Lancaster Solar Installation Cost: $17,930
- 25-Year Savings: $22,704
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Lancaster
We go over average solar pricing in Lancaster.
Although the national average of solar panels is $2.66 per watt, solar panels in Lancaster generally cost about 3.Because a 7.7-kW system is needed to cover the energy consumption of a typical home in Lancaster, the average price of going solar will be about $17,930 after claiming the federal solar tax credit of 0.
The true price you pay can be higher or lower than the average in Lancaster depending on a few factors, such as the kind of solar panels you choose and the solar company you hire.With average savings of about $19,000 on electricity bills over 20 years, many homeowners in Lancaster find installing solar panels has a decent ROI.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lancaster
| Year | Return on Investment |
|---|---|
| 1 years | $-16,509 |
| 3 years | $-13,667 |
| 5 years | $-10,825 |
| 7 years | $-7,983 |
| 9 years | $-5,141 |
| 11 years | $-2,299 |
| 13 years | $544 |
| 15 years | $3,386 |
| 17 years | $6,228 |
| 19 years | $9,070 |
| 21 years | $11,912 |
| 23 years | $14,754 |
| 25 years | $17,597 |
Top Solar Installers in Lancaster
When making the switch to solar, many homeowners opt to use a solar installation company since installing a solar system yourself can be a challenging project. Some solar installers, particularly local ones, can help you make the most of incentives in Lancaster, optimizing your ROI.
Working with a vetted solar installer can make going solar easier. 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
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 Lancaster
Factors that Affect Solar Panel Costs in Lancaster
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few primary factors that affect your total cost in Lancaster: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Lancaster, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $3,330 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you’re looking to install 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
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Lancaster homeowners decide to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the total 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $14,461 | 12.5 years |
| 8 kW | $3.40 | $19,021 | $19,655 | 12.3 years |
| 10 kW | $3.33 | $23,310 | $25,035 | 12.1 years |
| 12 kW | $3.26 | $27,413 | $30,601 | 11.8 years |
| 14 kW | $3.20 | $31,329 | $36,354 | 11.6 years |
| 16 kW | $3.13 | $35,058 | $42,294 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $48,419 | 11.1 years |
| 20 kW | $3.00 | $41,958 | $54,732 | 10.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Lancaster, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Warranty: Warranties that cover replacement parts and repairs 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 mark of a quality company.
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 Lancaster, TX Solar Cost FAQs
How much does it cost to install solar panels in Lancaster?
The average cost of solar panels in Lancaster 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 stuff such as the kind 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 Lancaster?
Leasing solar panels can be an attractive choice, as it usually 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 option if you want to maximize your savings.
How will having solar panels impact my property value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for 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."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 house 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.