Solar Panel Cost Guide in Lincoln, ND (2024 Update)
- Lincoln Solar Installation Cost: $43,416
- 25-Year Savings: $48,289
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Lincoln
Let’s have a look at the average cost of solar panels in Lincoln.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lincoln, the average cost of solar panels is 4 per watt.Because a 17.3-kW system is needed to cover the energy costs of a typical home in Lincoln, the average price of going solar will be about $43,416 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with.With typical savings of about $17,000 on utility bills over 20 years, many homeowners in Lincoln find installing solar panels can pay off big.
You can click the button below to get connected with a vetted solar installer in Lincoln for a quote for your home.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-42,130 |
| 3 years | $-39,559 |
| 5 years | $-36,988 |
| 7 years | $-34,417 |
| 9 years | $-31,846 |
| 11 years | $-29,275 |
| 13 years | $-26,704 |
| 15 years | $-24,133 |
| 17 years | $-21,562 |
| 19 years | $-18,990 |
| 21 years | $-16,419 |
| 23 years | $-13,848 |
| 25 years | $-11,277 |
Top Solar Installers in Lincoln
Many homeowners opt for a solar panel company since trying to put up solar panels by yourself can be a labor-intensive endeavor. 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.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
Even though the average cost of a solar system in Lincoln is $43,416, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Lincoln, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $3,580 for each additional kilowatt you need.The brand and type 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 often have a higher price tag 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 can expect 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 raise 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, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time due to interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
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 Lincoln, and each can charge varying amounts for labor and equipment.Additionally, some companies in Lincoln are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, 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 | $3.72 | $15,637 | $11,250 | 14.5 years |
| 8 kW | $3.65 | $20,449 | $15,401 | 14.3 years |
| 10 kW | $3.58 | $25,060 | $19,753 | 14.0 years |
| 12 kW | $3.51 | $29,471 | $24,304 | 13.7 years |
| 14 kW | $3.44 | $33,681 | $29,057 | 13.4 years |
| 16 kW | $3.37 | $37,690 | $34,010 | 13.1 years |
| 18 kW | $3.29 | $41,499 | $39,163 | 12.9 years |
| 20 kW | $3.22 | $45,108 | $44,517 | 12.6 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 models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- 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 not sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Lincoln, ND Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more 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 opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Solar panels can increase your property’s value remarkably as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.