Solar Panel Cost Guide in Lockhart, TX (2024 Update)
- Lockhart Solar Installation Cost: $17,603
- 25-Year Savings: $21,675
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Lockhart
Let’s have a look at the average cost of solar panels in Lockhart.
The national average cost of solar panels is $2.66 per watt, but in Lockhart it’s 3 per watt.The average Lockhart homeowner needs a 7.6-kilowatt system, which would cost about $17,603 with the federal tax credit, or $25,172 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you choose, your solar contractor and more.Even with the large upfront cost, the average Lockhart homeowner can save about $18,000 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
Solar savings over time in Lockhart
| Year | Return on Investment |
|---|---|
| 1 years | $-16,231 |
| 3 years | $-13,486 |
| 5 years | $-10,741 |
| 7 years | $-7,997 |
| 9 years | $-5,252 |
| 11 years | $-2,507 |
| 13 years | $238 |
| 15 years | $2,983 |
| 17 years | $5,728 |
| 19 years | $8,472 |
| 21 years | $11,217 |
| 23 years | $13,962 |
| 25 years | $16,707 |
Top Solar Installers in Lockhart
Trying to install solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers in Lockhart:
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 Lockhart
Factors that Affect Solar Panel Costs in Lockhart
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Lockhart: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,330.The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Lockhart provide solar loans, which reduce your upfront costs of installing solar panels.While solar loans make going solar more accessible for Lockhart homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lockhart is the company you get to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you’ll have no shortage of solar installers that provide a range of services at different price points.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional 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 | $13,973 | 12.8 years |
| 8 kW | $3.40 | $19,021 | $19,004 | 12.5 years |
| 10 kW | $3.33 | $23,310 | $24,221 | 12.3 years |
| 12 kW | $3.26 | $27,413 | $29,625 | 12.0 years |
| 14 kW | $3.20 | $31,329 | $35,215 | 11.8 years |
| 16 kW | $3.13 | $35,058 | $40,992 | 11.5 years |
| 18 kW | $3.06 | $38,601 | $46,955 | 11.3 years |
| 20 kW | $3.00 | $41,958 | $53,104 | 11.0 years |
How to Save on Solar Panels
The solar company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability 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.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Warranties that provide coverage for defective panels 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 good company.
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 Lockhart, TX Solar Cost FAQs
What is the average cost of installing solar panels in Lockhart?
The average cost of solar panels in Lockhart 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lockhart?
A solar panel system isn’t free in Lockhart, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase how much your home is worth?
Solar panels can increase your property’s value considerably 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% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption 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 get between 20 and 35 panels to cover 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.