Solar Panel Cost Guide in Southlake, TX (2024 Update)
- Southlake Solar Installation Cost: $17,842
- 25-Year Savings: $22,775
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Southlake
Here’s how much it might cost to install solar panels in Southlake.
In Southlake, solar panels cost about 3 per watt on average.The average Southlake homeowner needs a 7.7-kilowatt system, which would cost about $17,842 with the federal tax credit, or $25,514 before the 0 tax credit is applied.
These figures are just estimates, and how much solar costs for you will vary based on your energy needs and what company you choose to go with.With typical savings of about $19,000 on electricity bills over 20 years, many homeowners in Southlake find investing in solar has a decent ROI.
You can click the button below to get connected with a top solar company in Southlake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Southlake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,421 |
| 3 years | $-13,579 |
| 5 years | $-10,737 |
| 7 years | $-7,895 |
| 9 years | $-5,053 |
| 11 years | $-2,210 |
| 13 years | $632 |
| 15 years | $3,474 |
| 17 years | $6,316 |
| 19 years | $9,158 |
| 21 years | $12,000 |
| 23 years | $14,843 |
| 25 years | $17,685 |
Top Solar Installers in Southlake
Although you can install solar panels yourself, it takes extra energy and knowledge. That's one of the reasons most homeowners choose a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Southlake
Factors that Affect Solar Panel Costs in Southlake
There are several criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 Southlake.The brand of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Southlake to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of green energy solutions in Southlake, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Southlake know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $14,605 | 12.5 years |
| 8 kW | $3.40 | $19,021 | $19,846 | 12.2 years |
| 10 kW | $3.33 | $23,310 | $25,274 | 12.0 years |
| 12 kW | $3.26 | $27,413 | $30,888 | 11.8 years |
| 14 kW | $3.20 | $31,329 | $36,689 | 11.5 years |
| 16 kW | $3.13 | $35,058 | $42,676 | 11.3 years |
| 18 kW | $3.06 | $38,601 | $48,849 | 11.0 years |
| 20 kW | $3.00 | $41,958 | $55,210 | 10.8 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Southlake, 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:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from past customers.
- Solar Panel Brands: Different companies carry various brands and models of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
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 Southlake, TX Solar Cost FAQs
What is the average cost of installing solar panels in Southlake?
The average cost of solar panels in Southlake 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 things such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Southlake?
Leasing solar panels can be an appealing 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.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $971.68 per year.
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 take a 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 install between 20 and 35 panels to account for 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.