Solar Panel Cost Guide in Lincoln, NE (2024 Update)
- Lincoln Solar Installation Cost: $23,442
- 25-Year Savings: $17,763
- Payback Period: 16.1 Years
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Average Cost of Solar Panels in Lincoln
Find out what the average cost of solar panels are in Lincoln.
The national average cost of solar panels is $2.66 per watt, but in Lincoln it’s 4 per watt.Because a 9.4-kW system is needed to cover the energy needs of a typical home in Lincoln, the average price of going solar will be about $23,442 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar panels you choose, your solar contractor and more.For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Lincoln see about $15,000 in savings on electricity bills over 20 years.
To receive a free quote from a vetted solar company in Lincoln, you can click the button below.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-22,290 |
| 3 years | $-19,986 |
| 5 years | $-17,682 |
| 7 years | $-15,378 |
| 9 years | $-13,074 |
| 11 years | $-10,770 |
| 13 years | $-8,466 |
| 15 years | $-6,162 |
| 17 years | $-3,858 |
| 19 years | $-1,553 |
| 21 years | $751 |
| 23 years | $3,055 |
| 25 years | $5,359 |
Top Solar Installers in Lincoln
Many homeowners opt for a solar panel installer since figuring out how to install solar panels on your own can be hard. Solar warranties and repairs are usually included in the cost of installation when you hire a solar company as well, which can save you more money over time.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Lincoln:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
For many Lincoln homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Lincoln, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lincoln, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $3,580 for each additional kilowatt you need.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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. Additionally, add-on products, such as solar batteries, can bump up your total well above the Lincoln average.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $7,642 | 16.8 years |
| 8 kW | $3.65 | $20,449 | $10,590 | 16.5 years |
| 10 kW | $3.58 | $25,060 | $13,739 | 16.1 years |
| 12 kW | $3.51 | $29,471 | $17,088 | 15.8 years |
| 14 kW | $3.44 | $33,681 | $20,637 | 15.5 years |
| 16 kW | $3.37 | $37,690 | $24,387 | 15.2 years |
| 18 kW | $3.29 | $41,499 | $28,338 | 14.9 years |
| 20 kW | $3.22 | $45,108 | $32,489 | 14.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Lincoln, NE Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Lincoln?
Leasing solar panels can be an appealing choice, because 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 way to go if you want to maximize your savings.
Is it worth going solar in Lincoln?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Lincoln?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases 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.