Solar Panel Cost Guide in Lincoln, ND (2023 Update)
- Lincoln Solar Installation Cost: $29,340
- 25-Year Savings: $48,297
- Payback Period: 9.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Lincoln
Find out what the average cost of installing solar panels is in Lincoln.
The average cost of a solar system in Lincoln is 2.42 per watt. The average solar panel system size in Lincoln is around 17.3 kilowatts, meaning a cost of about $29,340 for a solar installation, or $41,956 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with. With typical savings of about $17,000 on electricity bills over 20 years, many homeowners in Lincoln find going solar can be quite rewarding.
To receive a free quote from a top solar installation company in Lincoln, you can click the button below.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-26,235 |
| 3 years | $-20,024 |
| 5 years | $-13,813 |
| 7 years | $-7,602 |
| 9 years | $-1,391 |
| 11 years | $4,820 |
| 13 years | $11,031 |
| 15 years | $17,242 |
| 17 years | $23,453 |
| 19 years | $29,664 |
| 21 years | $35,875 |
| 23 years | $42,086 |
| 25 years | $48,297 |
Top Solar Installers in Lincoln
Installing solar panels on your own can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
The cost of installing a solar system in Lincoln can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lincoln, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by about $2,420 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lincoln to be too costly, 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 in most cases, but they also lead to a higher cost over time due to interest. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you pick will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most significant role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater 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 discount can bring their pricing lower 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 | $2.52 | $10,571 | $16,317 | 9.8 years |
| 8 kW | $2.47 | $13,823 | $22,027 | 9.6 years |
| 10 kW | $2.42 | $16,940 | $27,873 | 9.5 years |
| 12 kW | $2.37 | $19,921 | $33,854 | 9.3 years |
| 14 kW | $2.32 | $22,767 | $39,970 | 9.1 years |
| 16 kW | $2.27 | $25,478 | $46,222 | 8.9 years |
| 18 kW | $2.23 | $28,053 | $52,610 | 8.7 years |
| 20 kW | $2.18 | $30,492 | $59,133 | 8.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
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 Lincoln, ND Solar Cost FAQs
How much does it cost to install solar panels in Lincoln?
This is a tough question to answer precisely, because the cost depends on a few different 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 cost more if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $896.25 per year.
How many solar panels should I get to power 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 take a 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 account for 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.