Solar Panel Cost Guide in Grand Island, NE (2024 Update)
- Grand Island Solar Installation Cost: $23,197
- 25-Year Savings: $20,046
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Grand Island
Find out what the average cost of solar panels are in Grand Island.
In Grand Island, solar panels cost about 4 per watt on average.Using this figure, a typical 9.3-kW system would cost about $23,197 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Grand Island homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find adopting solar power is a sound investment. The average homeowner in Grand Island can save about $16,000 on their electricity bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Grand Island
| Year | Return on Investment |
|---|---|
| 1 years | $-22,045 |
| 3 years | $-19,743 |
| 5 years | $-17,440 |
| 7 years | $-15,138 |
| 9 years | $-12,835 |
| 11 years | $-10,533 |
| 13 years | $-8,230 |
| 15 years | $-5,928 |
| 17 years | $-3,625 |
| 19 years | $-1,322 |
| 21 years | $980 |
| 23 years | $3,283 |
| 25 years | $5,585 |
Top Solar Installers in Grand Island
Installing solar panels on your own can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you hire a solar contractor too, which can save you more money after your initial investment.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
See all of the solar companies in Grand Island
Factors that Affect Solar Panel Costs in Grand Island
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Grand Island: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.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 choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bump up your total well above the Grand Island average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Grand Island, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to add 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 remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Grand Island, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $9,243 | 15.7 years |
| 8 kW | $3.65 | $20,449 | $12,724 | 15.4 years |
| 10 kW | $3.58 | $25,060 | $16,407 | 15.1 years |
| 12 kW | $3.51 | $29,471 | $20,289 | 14.8 years |
| 14 kW | $3.44 | $33,681 | $24,373 | 14.5 years |
| 16 kW | $3.37 | $37,690 | $28,656 | 14.2 years |
| 18 kW | $3.29 | $41,499 | $33,141 | 13.9 years |
| 20 kW | $3.22 | $45,108 | $37,825 | 13.6 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Grand Island, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
EcoWatch's Grand Island, NE Solar Cost FAQs
What is the average cost of installing solar panels in Grand Island?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Grand Island?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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 power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $829.33 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger 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.