Solar Panel Cost Guide in Meridian, ID (2024 Update)
- Meridian Solar Installation Cost: $17,666
- 25-Year Savings: $17,718
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Meridian
Find out what the average cost of solar panel installation is in Meridian.
Although the national average of solar panels is $2.66 per watt, solar panels in Meridian generally cost around 3.The average Meridian homeowner needs a 7.3-kilowatt system, which would cost about $17,666 with the federal tax credit, or $25,262 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Meridian depending on a few factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Meridian homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the positives of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Meridian
| Year | Return on Investment |
|---|---|
| 1 years | $-16,504 |
| 3 years | $-14,180 |
| 5 years | $-11,856 |
| 7 years | $-9,532 |
| 9 years | $-7,208 |
| 11 years | $-4,884 |
| 13 years | $-2,559 |
| 15 years | $-235 |
| 17 years | $2,089 |
| 19 years | $4,413 |
| 21 years | $6,737 |
| 23 years | $9,061 |
| 25 years | $11,385 |
Top Solar Installers in Meridian
When switching to solar energy, many homeowners opt to hire a solar installer since installing solar panels yourself can be a challenging project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Meridian
Factors that Affect Solar Panel Costs in Meridian
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Meridian: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,460. The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions 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 researching a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Meridian homeowners choose to finance their solar panel systems to make going solar more affordable.Although solar loans make going solar more accessible for Meridian homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can influence your pricing. Meridian’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $10,382 | 14.8 years |
| 8 kW | $3.53 | $19,764 | $14,230 | 14.5 years |
| 10 kW | $3.46 | $24,220 | $18,272 | 14.2 years |
| 12 kW | $3.39 | $28,483 | $22,507 | 14.0 years |
| 14 kW | $3.32 | $32,552 | $26,937 | 13.7 years |
| 16 kW | $3.25 | $36,427 | $31,560 | 13.4 years |
| 18 kW | $3.18 | $40,108 | $36,377 | 13.1 years |
| 20 kW | $3.11 | $43,596 | $41,387 | 12.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Meridian, ID Solar Cost FAQs
What is the average cost of installing solar panels in Meridian?
The average cost of solar panels in Meridian 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Meridian?
You can’t get solar panels for free in Meridian. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Meridian?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Meridian?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.