Solar Panel Cost Guide in Wyoming, MI (2023 Update)
- Wyoming Solar Installation Cost: $12,156
- 25-Year Savings: $22,828
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wyoming
Let's take a look at the average cost of solar panels in Wyoming.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wyoming, the average cost of a solar system is 2.81 per watt. To account for the typical energy needs of the average home in Wyoming, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $12,156, or $17,383 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $22,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar installer in Wyoming for a personalized quote.
Solar savings over time in Wyoming
| Year | Return on Investment |
|---|---|
| 1 years | $-10,757 |
| 3 years | $-7,958 |
| 5 years | $-5,159 |
| 7 years | $-2,360 |
| 9 years | $438 |
| 11 years | $3,237 |
| 13 years | $6,036 |
| 15 years | $8,834 |
| 17 years | $11,633 |
| 19 years | $14,432 |
| 21 years | $17,231 |
| 23 years | $20,029 |
| 25 years | $22,828 |
Top Solar Installers in Wyoming
Installing solar panels by yourself can be a time-consuming project, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you aren't sure what type of solar equipment would be right for your home.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our suggestions for providers nearby:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Wyoming
Factors that Affect Solar Panel Costs in Wyoming
Though the average cost of a solar system in Wyoming is $12,156, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The 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. However, higher efficiency could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Wyoming average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Wyoming, and each can charge varying amounts for labor and equipment. 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 offers the products, warranties and services you want and also fits within 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 | $2.92 | $12,274 | $21,716 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,269 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,980 | 8.7 years |
| 12 kW | $2.75 | $23,132 | $44,848 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $52,873 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,056 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $69,396 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $77,893 | 7.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar panel company. Confirm that you understand how the installation process works and the project timeline.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Wyoming, MI Solar Cost FAQs
How much does it cost to install solar panels in Wyoming?
The average cost of solar panels in Wyoming is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Wyoming?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is going solar worth it?
Solar panels can be a fruitful investment for most 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.
How long do solar panels last in Wyoming?
On average, the lifespan of solar panels is 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 larger 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.