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 generally cost about 3.To cover the typical energy needs of the average home in Billings, most homeowners require a 16.9-kilowatt system. Using the figure above, a solar installation costs around $40,976, or $58,596 before the federal solar tax credit of 0 is applied.
The true cost of your system can be above or below the average in Billings depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, 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 by yourself, it takes extra energy and knowledge. Because of that, most homeowners choose a solar panel installer. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for you.
If you're looking for a solar installer in Billings, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Billings
Factors that Affect Solar Panel Costs in Billings
The cost of installing a solar system in Billings can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $3,470. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Billings average.
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 Billings homeowners opt to finance their solar panel systems to offset upfront costs.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 a lot of companies to choose from in Billings, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully 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.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
EcoWatch's Billings, MT Solar Cost FAQs
What is the average cost of installing solar panels in Billings?
The average cost of solar panels in Billings is about $17,350 for a 5-kW system and $34,700 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas 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 your home value remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount 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.