Solar Panel Cost Guide in Watford City, ND (2023 Update)
- Watford City Solar Installation Cost: $29,740
- 25-Year Savings: $25,254
- Payback Period: 13.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Watford City
Let's take a look at the average cost of solar panels in Watford City.
In Watford City, solar panels cost about 2.42 per watt on average. The average Watford City homeowner needs a 17.6-kilowatt system, which would cost about $29,747 with the federal tax credit, or $42,538 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $12,000 over 20 years on electricity bills.
To receive a free quote from a highly rated solar installation company in Watford City, you can click the button below.
Solar savings over time in Watford City
| Year | Return on Investment |
|---|---|
| 1 years | $-28,454 |
| 3 years | $-25,883 |
| 5 years | $-23,312 |
| 7 years | $-20,741 |
| 9 years | $-18,170 |
| 11 years | $-15,599 |
| 13 years | $-13,028 |
| 15 years | $-10,457 |
| 17 years | $-7,885 |
| 19 years | $-5,314 |
| 21 years | $-2,743 |
| 23 years | $-172 |
| 25 years | $2,399 |
Top Solar Installers in Watford City
Trying to install solar panels by yourself can be a challenging undertaking, which is why getting a solar installation company is a good option for many homeowners. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
If you'd like to switch to solar energy but still aren't sure which solar panel installer to go with, here are our suggestions for providers in Watford City:
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 Watford City
Factors that Affect Solar Panel Costs in Watford City
There are several criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,420 per kilowatt in Watford City. The kind of solar equipment you choose can bring your price up or down 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, more efficient panels could save you more in the long run on your power bills. In addition, extra products, such as solar batteries, can bring your total well above the Watford City average.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Watford City homeowners opt to finance their solar panel systems to make going solar more affordable. Though solar loans make adopting solar energy more accessible for Watford City homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Watford City, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $8,224 | 14.1 years |
| 8 kW | $2.47 | $13,823 | $11,237 | 13.8 years |
| 10 kW | $2.42 | $16,940 | $14,385 | 13.5 years |
| 12 kW | $2.37 | $19,921 | $17,668 | 13.2 years |
| 14 kW | $2.32 | $22,767 | $21,087 | 13.0 years |
| 16 kW | $2.27 | $25,478 | $24,641 | 12.7 years |
| 18 kW | $2.23 | $28,053 | $28,331 | 12.4 years |
| 20 kW | $2.18 | $30,492 | $32,157 | 12.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a good reputation as a company and have verifiable 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: Look through the contract terms carefully to make sure you understand the total cost, completion timeline rebates and warranties.
- Solar Panel Brands: The type of solar panel you want to install plays a part in which installer you should opt for, since different companies provide different panels.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Watford City, ND Solar Cost FAQs
What is the average cost of installing solar panels in Watford City?
The average cost of solar panels in Watford City is about $12,100 for a 5-kW system and $24,200 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
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 be mindful of are the quality and durability of your solar panels.
How will installing solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Watford City is currently $248,600, so you can expect a value of about $10,193 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Watford City is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.