Solar Panel Cost Guide in Rigby, ID (2023 Update)
- Rigby Solar Installation Cost: $13,705
- 25-Year Savings: $19,054
- Payback Period: 10.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Rigby
Let's have a look at the average cost of solar panels in Rigby.
In Rigby, solar panels cost about 2.6 per watt on average. Since a 7.5-kW system is needed to cover the energy needs of a typical home in Rigby, the average price of going solar will be about $13,705 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar system you want to get, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average Rigby homeowners see about $17,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Rigby for a quote for your home.
Solar savings over time in Rigby
| Year | Return on Investment |
|---|---|
| 1 years | $-12,394 |
| 3 years | $-9,774 |
| 5 years | $-7,153 |
| 7 years | $-4,532 |
| 9 years | $-1,912 |
| 11 years | $709 |
| 13 years | $3,330 |
| 15 years | $5,950 |
| 17 years | $8,571 |
| 19 years | $11,192 |
| 21 years | $13,813 |
| 23 years | $16,433 |
| 25 years | $19,054 |
Top Solar Installers in Rigby
When making the switch to solar, many homeowners choose to hire a solar company since putting up solar panels yourself can be a time-consuming project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're looking for a solar company in Rigby, the EcoWatch team has put together a list of our top suggestions here:
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 Rigby
Factors that Affect Solar Panel Costs in Rigby
The cost of installing a solar system in Rigby can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $2,600 per kilowatt in Rigby. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this 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 Rigby homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Rigby is the company you get to install your solar system. As with choosing a company to install new cabinets, for example, you'll have no shortage of solar installers that offer a range of services at different price points. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $14,761 | 10.9 years |
| 8 kW | $2.65 | $14,851 | $19,973 | 10.7 years |
| 10 kW | $2.60 | $18,200 | $25,330 | 10.5 years |
| 12 kW | $2.55 | $21,403 | $30,833 | 10.2 years |
| 14 kW | $2.50 | $24,461 | $36,482 | 10.0 years |
| 16 kW | $2.44 | $27,373 | $42,276 | 9.8 years |
| 18 kW | $2.39 | $30,139 | $48,215 | 9.6 years |
| 20 kW | $2.34 | $32,760 | $54,301 | 9.4 years |
How to Save on Solar Panels
The solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: If you're concerned about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Rigby, ID Solar Cost FAQs
What is the average cost of installing solar panels in Rigby?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rigby is currently $218,100, so you could be looking at a value of about $8,942 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Rigby is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household 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.