Solar Panel Cost Guide in Billings, MT (2024 Update)
- Billings Solar Installation Cost: $40,976
- 25-Year Savings: $39,994
- Payback Period: 14.6 Years
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Average Cost of Solar Panels in Billings
We break down average solar pricing in Billings.
While the national average of solar panels is $2.66 per watt, solar panels in Billings typically cost about 3.Using this figure, a typical 16.9-kW system would cost about $40,976 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what company you go with.Even with the large upfront cost, the average Billings homeowner can save around $17,000 on their electricity bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a top solar installation company in Billings, you can click the button below.
Solar savings over time in Billings
| Year | Return on Investment |
|---|---|
| 1 years | $-39,688 |
| 3 years | $-37,113 |
| 5 years | $-34,538 |
| 7 years | $-31,963 |
| 9 years | $-29,388 |
| 11 years | $-26,813 |
| 13 years | $-24,237 |
| 15 years | $-21,662 |
| 17 years | $-19,087 |
| 19 years | $-16,512 |
| 21 years | $-13,937 |
| 23 years | $-11,361 |
| 25 years | $-8,786 |
Top Solar Installers in Billings
Although it's possible to install solar panels yourself, it involves extra energy and handiness. Because of that, almost all homeowners choose a solar panel installer. Plus, if you’re unsure what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Billings, the EcoWatch team has organized a list of our top suggestions here:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Billings
Factors that Affect Solar Panel Costs in Billings
Though the average cost of a solar system in Billings is $40,976, your final cost may differ. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Billings, which can lower, or in some cases totally eliminate, your upfront costs to make solar more accessible.Although solar loans make switching to solar energy more accessible for Billings homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Billings’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Billings are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.61 | $15,157 | $9,736 | 15.2 years |
| 8 kW | $3.54 | $19,821 | $13,369 | 14.9 years |
| 10 kW | $3.47 | $24,290 | $17,198 | 14.6 years |
| 12 kW | $3.40 | $28,565 | $21,220 | 14.3 years |
| 14 kW | $3.33 | $32,646 | $25,437 | 14.1 years |
| 16 kW | $3.26 | $36,532 | $29,848 | 13.8 years |
| 18 kW | $3.19 | $40,224 | $34,453 | 13.5 years |
| 20 kW | $3.12 | $43,722 | $39,253 | 13.2 years |
How to Save on Solar Panels
There are numerous companies to choose from in Billings, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Billings, MT Solar Cost FAQs
How much does it cost to install solar panels in Billings?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $17,350 for a 5-kW system and $34,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Billings is currently $381,186, which means you can expect a value of about $15,629 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Billings is a worthwhile investment.
How long do solar panels last in Billings?
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.