Solar Panel Cost Guide in Broken Bow, NE (2023 Update)
- Broken Bow Solar Installation Cost: $18,191
- 25-Year Savings: $24,826
- Payback Period: 10.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Broken Bow
Here's how much it might cost to make the switch to solar in Broken Bow.
While the national average of solar panels is $2.66 per watt, solar panels in Broken Bow typically cost around 2.83. The average Broken Bow homeowner needs a 9.2-kilowatt system, which would cost about $18,186 with the federal tax credit, or $26,006 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar can vary based on several factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Broken Bow can save around $18,000 on their energy bills over 20 years.
Click the button below to get connected to a highly rated solar company in Broken Bow for a personalized quote.
Solar savings over time in Broken Bow
| Year | Return on Investment |
|---|---|
| 1 years | $-16,969 |
| 3 years | $-14,525 |
| 5 years | $-12,081 |
| 7 years | $-9,636 |
| 9 years | $-7,192 |
| 11 years | $-4,748 |
| 13 years | $-2,304 |
| 15 years | $140 |
| 17 years | $2,584 |
| 19 years | $5,028 |
| 21 years | $7,473 |
| 23 years | $9,917 |
| 25 years | $12,361 |
Top Solar Installers in Broken Bow
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make your swap to solar power much easier. Also, if you'd like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
If you'd like to make the switch to solar but still aren't certain which solar system installer to go with, here are our recommendations for providers in Broken Bow:
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 Broken Bow
Factors that Affect Solar Panel Costs in Broken Bow
The cost of installing a solar system in Broken Bow can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you want 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 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Broken Bow homeowners choose to finance their solar panel systems to offset upfront costs. Even though solar loans make going solar more accessible for Broken Bow homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Broken Bow, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.94 | $12,361 | $15,745 | 11.0 years |
| 8 kW | $2.89 | $16,165 | $21,311 | 10.8 years |
| 10 kW | $2.83 | $19,810 | $27,035 | 10.6 years |
| 12 kW | $2.77 | $23,297 | $32,917 | 10.4 years |
| 14 kW | $2.72 | $26,625 | $38,958 | 10.1 years |
| 16 kW | $2.66 | $29,794 | $45,157 | 9.9 years |
| 18 kW | $2.60 | $32,805 | $51,515 | 9.7 years |
| 20 kW | $2.55 | $35,658 | $58,032 | 9.5 years |
How to Save on Solar Panels
The solar installer you go with will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to read through your solar installer's contract fully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Solar Panel Brands: The brand of solar panel you need to install plays a part in which company you should opt for, since different companies provide different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
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 Broken Bow, NE Solar Cost FAQs
How much does it cost to install solar panels in Broken Bow?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Broken Bow?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will having solar panels impact my home value?
Solar panels can increase your property's value considerably 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 many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of 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 install 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.