Benefits of Solar Energy
Solar energy provides multiple advantages. Let's look at a few of them.
- Better energy independence: Solar panels can keep your home running through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with optional battery storage.
- Lowered energy bills: With a solar array, you produce power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid.
- Reduced carbon footprint: Utilizing solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Lewisville Homeowners?
Texas homeowners who choose solar could qualify for rebates, special financing, tax credits and reimbursements. Here are just a few of the local incentive offerings.
Incentive Type: Rebate ProgramWebsite: texasgasservice.com
Free Equipment Program: Free appliance installation and weatherization services
Home Improvement (includes attic insulation, duct sealing, duct insulation, duct replacement, high-efficiency gas furnace, and Wi-Fi thermostat: Up to $1000
Solar Water Heater With Natural Gas Backup: $750
Tankless or Super High-efficiency Water Heater: $650
Furnace Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
Incentive Type: Rebate ProgramWebsite: support.coserv.com
Rebates tiered based on kW installed
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Lewisville
The price and effectiveness of solar panels often hinge on the provider that mounted them. Make your choice based on the following vital factors.
Licensing and Training
All solar installers in Texas must have a state electrical contractors' license from the Texas Department of Licensing and Regulation. The Texas State Board of Plumbing Examiners regulates plumbing regulations and licensing standards for solar thermal installers. Solar providers can also obtain accreditations from trade groups and standards organizations. The top ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Lewisville
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers offer these add-ons, so look for a provider that sells them if it's important for you.
You can plan to spend about $16,650 on average for a five-kilowatt solar energy system in Lewisville. Use the table in this section to get an idea of how much Lewisville solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Lewisville
There are numerous ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include power purchase agreements (PPAs), leases, cash payments, and loans. Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We suggest working with a company that offers multiple financing options. Talk to each consultant about what's available, and secure more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Lewisville.
You are eligible for a 26% federal tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Lewisville
How much money could I save by going solar in Lewisville?
Is solar energy readily available in Lewisville?
Should I expect a boost in my property value after adopting solar power?
How can I determine my home's solar potential?
Is installing solar panels a quick job?
What size should my new Lewisville solar system be?
What are the signs I shouldn't use a particular solar company for my job?
- High-pressure sales tactics
- Not being straightforward about references, cost, training and credentials and warranties
- Inflexible options
- Not thoroughly inspecting your site
- Limited customer feedback
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