Solar Panel Cost Guide in Lincoln, ID (2024 Update)
- Lincoln Solar Installation Cost: $17,946
- 25-Year Savings: $14,324
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Lincoln
Find out what the average cost of installing solar panels is in Lincoln.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lincoln, the typical cost of solar panels is 3 per watt.Using this figure, a typical 7.4-kW system would cost about $17,946 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Lincoln based on several factors, such as the brand of solar panels you choose and the solar company you hire.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Lincoln find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar panel company in Lincoln for a customized estimate.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-16,747 |
| 3 years | $-14,350 |
| 5 years | $-11,952 |
| 7 years | $-9,554 |
| 9 years | $-7,157 |
| 11 years | $-4,759 |
| 13 years | $-2,361 |
| 15 years | $36 |
| 17 years | $2,434 |
| 19 years | $4,832 |
| 21 years | $7,229 |
| 23 years | $9,627 |
| 25 years | $12,025 |
Top Solar Installers in Lincoln
Although it's possible to install solar panels on your own, it takes extra time and expertise. Because of that, the majority of homeowners choose to go with a solar panel installer. The expertise that solar installers provide can be helpful as well, particularly if you aren’t sure what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much your investment in solar 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
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
The cost of installing a solar system in Lincoln can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,460.The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Lincoln average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Lincoln homeowners opt to finance their solar panel systems to make going solar more affordable.Although solar loans make adopting solar energy more accessible for Lincoln homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installation company you pick will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also fit into your budget.
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 | $7,406 | 16.8 years |
| 8 kW | $3.53 | $19,764 | $10,262 | 16.5 years |
| 10 kW | $3.46 | $24,220 | $13,311 | 16.1 years |
| 12 kW | $3.39 | $28,483 | $16,555 | 15.8 years |
| 14 kW | $3.32 | $32,552 | $19,992 | 15.5 years |
| 16 kW | $3.25 | $36,427 | $23,623 | 15.2 years |
| 18 kW | $3.18 | $40,108 | $27,448 | 14.8 years |
| 20 kW | $3.11 | $43,596 | $31,467 | 14.5 years |
How to Save on Solar Panels
There are many 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 take a lot of time, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two 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 previous customers.
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 Lincoln, ID Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,300 for a 5-kW system and $34,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Lincoln?
Solar panels aren’t free in Lincoln, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $750.63 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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 home 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.