Solar Panel Cost Guide in Devils Lake, ND (2023 Update)
- Devils Lake Solar Installation Cost: $44,673
- 25-Year Savings: $35,644
- Payback Period: 17.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Devils Lake
Let's have a look at the average cost of solar panels in Devils Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Devils Lake, the typical cost of solar panels is 2.42 per watt.The average solar panel system size in Devils Lake is around 17.8 kilowatts, meaning a cost of about $30,204 for a solar installation, or $43,192 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.Despite the large upfront cost, the average Devils Lake homeowner can save about $14,000 on their energy bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Devils Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-43,461 |
| 3 years | $-41,038 |
| 5 years | $-38,614 |
| 7 years | $-36,190 |
| 9 years | $-33,767 |
| 11 years | $-31,343 |
| 13 years | $-28,920 |
| 15 years | $-26,496 |
| 17 years | $-24,073 |
| 19 years | $-21,649 |
| 21 years | $-19,226 |
| 23 years | $-16,802 |
| 25 years | $-14,378 |
Top Solar Installers in Devils Lake
Installing solar panels on your own can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. The expertise that solar installers offer can be invaluable as well, particularly if you don't quite know what brand of solar equipment you need.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Devils Lake:
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 Devils Lake
Factors that Affect Solar Panel Costs in Devils Lake
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Devils Lake: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,420 per kilowatt in Devils Lake.The kind 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. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Devils Lake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Devils Lake to be too steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.However, the interest on solar loans also increases your all-in costs, so it's crucial to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Devils Lake, and each can charge different amounts for labor and equipment.Larger national companies typically have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 | $3.72 | $15,637 | $6,523 | 17.6 years |
| 8 kW | $3.65 | $20,449 | $9,099 | 17.3 years |
| 10 kW | $3.58 | $25,060 | $11,875 | 17.0 years |
| 12 kW | $3.51 | $29,471 | $14,851 | 16.6 years |
| 14 kW | $3.44 | $33,681 | $18,028 | 16.3 years |
| 16 kW | $3.37 | $37,690 | $21,405 | 15.9 years |
| 18 kW | $3.29 | $41,499 | $24,983 | 15.6 years |
| 20 kW | $3.22 | $45,108 | $28,761 | 15.3 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Contract: Look through the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers 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 choose.
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 Devils Lake, ND Solar Cost FAQs
What is the average cost of installing solar panels in Devils Lake?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $12,100 for a 5-kW system and $24,200 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Devils Lake?
Solar panels aren't free in Devils Lake, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Devils Lake?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.