Solar Panel Cost Guide in Gering, NE (Jan 2023)
- Gering Solar Installation Cost: $17,631
- 25-Year Savings: $35,053
- Payback Period: 8.4 Years
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Updated January 20, 2023
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Average Cost of Solar Panels in Gering
Let's take a look at the average cost of solar panels in Gering.
The average cost of solar panels in Gering is $3 per watt. To account for the typical energy usage of the average home in Gering, most homeowners require a 8.9-kilowatt system. Using the figure above, a solar installation costs around $17,631, or $13,047 after the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more. Despite the significant initial cost, the average Gering homeowner can save around $23,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free quote from a highly rated solar installer in Gering, you can click the button below.
Solar savings over time in Gering
| Year | Return on Investment |
|---|---|
| 1 years | $-15,524 |
| 3 years | $-11,309 |
| 5 years | $-7,094 |
| 7 years | $-2,879 |
| 9 years | $1,335 |
| 11 years | $5,550 |
| 13 years | $9,765 |
| 15 years | $13,980 |
| 17 years | $18,194 |
| 19 years | $22,409 |
| 21 years | $26,624 |
| 23 years | $30,838 |
| 25 years | $35,053 |
Top Solar Installers in Gering
Many homeowners choose to use a solar installation company since installing solar panels on your own can be a labor-intensive endeavor. Plus, if you're unsure what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar company in Gering, the EcoWatch team has compiled a list of our top suggestions here:
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Gering
Factors that Affect Solar Panel Costs in Gering
While the average cost of a solar system in Gering is $17,631, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because of greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes 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 | $2.94 | $12,361 | $23,171 | 8.7 years |
| 8 kW | $2.89 | $16,165 | $31,211 | 8.5 years |
| 10 kW | $2.83 | $19,810 | $39,410 | 8.4 years |
| 12 kW | $2.77 | $23,297 | $47,768 | 8.2 years |
| 14 kW | $2.72 | $26,625 | $56,284 | 8.0 years |
| 16 kW | $2.66 | $29,794 | $64,958 | 7.9 years |
| 18 kW | $2.60 | $32,805 | $73,791 | 7.7 years |
| 20 kW | $2.55 | $35,658 | $82,782 | 7.5 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Gering, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- 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 expectations you should have about the installation process.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
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
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Gering, NE Solar Cost FAQs
What is the average cost of installing solar panels in Gering?
The average cost of solar panels in Gering is about $14,150 for a 5-kW system and $28,300 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Gering?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Gering, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Gering?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.