Solar Panel Cost Guide in Hailey, ID (2024 Update)
- Hailey Solar Installation Cost: $17,426
- 25-Year Savings: $18,670
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Hailey
Let’s take a look at the average cost of solar in Hailey.
In Hailey, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Hailey, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,426, or $24,919 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with.Despite the high initial cost, the average Hailey homeowner can save around $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a top solar installer in Hailey, you can click the button below.
Solar savings over time in Hailey
| Year | Return on Investment |
|---|---|
| 1 years | $-16,264 |
| 3 years | $-13,940 |
| 5 years | $-11,616 |
| 7 years | $-9,292 |
| 9 years | $-6,967 |
| 11 years | $-4,643 |
| 13 years | $-2,319 |
| 15 years | $5 |
| 17 years | $2,329 |
| 19 years | $4,653 |
| 21 years | $6,977 |
| 23 years | $9,301 |
| 25 years | $11,625 |
Top Solar Installers in Hailey
When switching to solar energy, many homeowners choose to hire a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Local solar companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
If you're searching for a solar company in Hailey, we've compiled a list of our top suggestions here:
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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
See all of the solar companies in Hailey
Factors that Affect Solar Panel Costs in Hailey
For many Hailey homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Hailey, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important 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 pay about $3,460 per kilowatt in Hailey.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Hailey, where sunlight is abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That’s why many Hailey homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your overall costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Hailey is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services for different budgets.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 specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $3.60 | $15,113 | $11,376 | 14.3 years |
| 8 kW | $3.53 | $19,764 | $15,556 | 14.0 years |
| 10 kW | $3.46 | $24,220 | $19,929 | 13.7 years |
| 12 kW | $3.39 | $28,483 | $24,497 | 13.4 years |
| 14 kW | $3.32 | $32,552 | $29,258 | 13.2 years |
| 16 kW | $3.25 | $36,427 | $34,212 | 12.9 years |
| 18 kW | $3.18 | $40,108 | $39,361 | 12.6 years |
| 20 kW | $3.11 | $43,596 | $44,703 | 12.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
EcoWatch's Hailey, ID Solar Cost FAQs
How much does it cost to install solar panels in Hailey?
The average cost of solar panels in Hailey is about $17,300 for a 5-kW system and $34,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Hailey?
You can’t get solar panels for free in Hailey. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Hailey?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 buy 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.