Solar Panel Cost Guide in Canyon Lake, TX (2024 Update)
- Canyon Lake Solar Installation Cost: $17,599
- 25-Year Savings: $21,930
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Canyon Lake
Let’s have a look at the average cost of solar panels in Canyon Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in Canyon Lake typically cost around 3.The average Canyon Lake homeowner needs a 7.6-kilowatt system, which would cost about $17,599 with the federal tax credit, or $25,167 before the 0 tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on the amount of energy your home requires and what company you go with.Despite the significant upfront cost, the average Canyon Lake homeowner can save about $18,000 on their power bills over 20 years, which is one of the advantages of solar.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Canyon Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,246 |
| 3 years | $-13,539 |
| 5 years | $-10,832 |
| 7 years | $-8,125 |
| 9 years | $-5,418 |
| 11 years | $-2,711 |
| 13 years | $-5 |
| 15 years | $2,702 |
| 17 years | $5,409 |
| 19 years | $8,116 |
| 21 years | $10,823 |
| 23 years | $13,530 |
| 25 years | $16,237 |
Top Solar Installers in Canyon Lake
Although it's possible to install solar panels yourself, it involves extra time and handiness. That's why most people choose to go with a solar panel installer. Some solar companies, particularly local ones, can help you better understand incentives in Canyon Lake, thereby optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Canyon Lake
Factors that Affect Solar Panel Costs in Canyon Lake
The cost of installing a solar system in Canyon Lake can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar system in Canyon Lake, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $3,330 for each additional kilowatt you need.The type of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider 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 for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Canyon Lake to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the massive popularity of renewable energy solutions in Canyon Lake, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by promoting 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 | $14,180 | 12.7 years |
| 8 kW | $3.40 | $19,021 | $19,279 | 12.4 years |
| 10 kW | $3.33 | $23,310 | $24,565 | 12.2 years |
| 12 kW | $3.26 | $27,413 | $30,037 | 11.9 years |
| 14 kW | $3.20 | $31,329 | $35,696 | 11.7 years |
| 16 kW | $3.13 | $35,058 | $41,542 | 11.4 years |
| 18 kW | $3.06 | $38,601 | $47,574 | 11.2 years |
| 20 kW | $3.00 | $41,958 | $53,792 | 11.0 years |
How to Save on Solar Panels
There are a large number of companies available in Canyon Lake, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Canyon Lake, TX Solar Cost FAQs
How much does it cost to install solar panels in Canyon Lake?
The average cost of solar panels in Canyon Lake 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.