Solar Panel Cost Guide in Hailey, ID (2023 Update)
- Hailey Solar Installation Cost: $13,086
- 25-Year Savings: $18,679
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hailey
We break down average solar pricing in Hailey.
In Hailey, solar panels cost about 2.6 per watt on average. Using this figure, a typical 7.2-kW system would cost about $13,086 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you may vary based on your energy needs and what company you go with. Many homeowners find going solar is a sound investment. The average homeowner in Hailey can save about $17,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Hailey for a quote for your home.
Solar savings over time in Hailey
| Year | Return on Investment |
|---|---|
| 1 years | $-11,815 |
| 3 years | $-9,274 |
| 5 years | $-6,733 |
| 7 years | $-4,192 |
| 9 years | $-1,650 |
| 11 years | $891 |
| 13 years | $3,432 |
| 15 years | $5,973 |
| 17 years | $8,514 |
| 19 years | $11,055 |
| 21 years | $13,597 |
| 23 years | $16,138 |
| 25 years | $18,679 |
Top Solar Installers in Hailey
Although you can install solar panels on your own, it involves extra labor and know-how. For that reason, most homeowners choose to go with a solar panel installer. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what brand of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Hailey:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
See all of the solar companies in Hailey
Factors that Affect Solar Panel Costs in Hailey
There are a number of factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Hailey, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you opt for to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Hailey, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.70 | $11,357 | $15,133 | 10.7 years |
| 8 kW | $2.65 | $14,851 | $20,468 | 10.5 years |
| 10 kW | $2.60 | $18,200 | $25,949 | 10.3 years |
| 12 kW | $2.55 | $21,403 | $31,576 | 10.1 years |
| 14 kW | $2.50 | $24,461 | $37,348 | 9.9 years |
| 16 kW | $2.44 | $27,373 | $43,266 | 9.7 years |
| 18 kW | $2.39 | $30,139 | $49,330 | 9.5 years |
| 20 kW | $2.34 | $32,760 | $55,539 | 9.3 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 select the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
The initial cost is a key 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 take into account are the quality and durability of your solar panels.
Is it worth going solar in Hailey?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Hailey?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.