Solar Panel Cost Guide in Holdrege, NE (2023 Update)
- Holdrege Solar Installation Cost: $17,850
- 25-Year Savings: $21,691
- Payback Period: 11.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holdrege
Let's take a look at the average cost of solar in Holdrege.
The national average cost of solar panels is $2.66 per watt, but in Holdrege it's 2.83 per watt. Using this figure, a typical 9.0-kW system would cost about $17,849 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want, your solar contractor and more. With typical savings of about $17,000 on power bills over 20 years, many homeowners in Holdrege find investing in solar can pay off big.
To get a free estimate from a highly rated solar installation company in Holdrege, you can click the button below.
Solar savings over time in Holdrege
| Year | Return on Investment |
|---|---|
| 1 years | $-16,706 |
| 3 years | $-14,419 |
| 5 years | $-12,131 |
| 7 years | $-9,843 |
| 9 years | $-7,556 |
| 11 years | $-5,268 |
| 13 years | $-2,981 |
| 15 years | $-693 |
| 17 years | $1,595 |
| 19 years | $3,882 |
| 21 years | $6,170 |
| 23 years | $8,458 |
| 25 years | $10,745 |
Top Solar Installers in Holdrege
Trying to install solar panels yourself can be a challenging project, which is why using a solar installer is a good option for many homeowners. Some solar installers, particularly local ones, can help you take advantage of incentives in Holdrege, optimizing your ROI.
If you're searching for a solar installer in Holdrege, the EcoWatch team has organized 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
See all of the solar companies in Holdrege
Factors that Affect Solar Panel Costs in Holdrege
Even though the average cost of a solar system in Holdrege is $17,849, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,830. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Holdrege to be too costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact how much it costs. Holdrege's solar companies all have different labor costs and add varying upcharges to 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 with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for and also is within 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 | $13,968 | 11.7 years |
| 8 kW | $2.89 | $16,165 | $18,941 | 11.5 years |
| 10 kW | $2.83 | $19,810 | $24,073 | 11.3 years |
| 12 kW | $2.77 | $23,297 | $29,362 | 11.1 years |
| 14 kW | $2.72 | $26,625 | $34,811 | 10.8 years |
| 16 kW | $2.66 | $29,794 | $40,418 | 10.6 years |
| 18 kW | $2.60 | $32,805 | $46,183 | 10.4 years |
| 20 kW | $2.55 | $35,658 | $52,107 | 10.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you're concerned about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 good reviews from previous customers.
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 Holdrege, NE Solar Cost FAQs
How much does it cost to install solar panels in Holdrege?
The average cost of solar panels in Holdrege 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 type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Holdrege?
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 incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is it worth going solar in Holdrege?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out 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.