Solar Panel Cost Guide in Lincoln, NE (Jun 2022)
- Lincoln Solar Installation Cost: $19,581
- 25-Year Savings: $16,713
- Payback Period: 13.5 Years
See cost of a solar system near you:
Updated 5/26/2022
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Average Cost of Solar Panels in Lincoln
Find out what the average cost of solar panel installation is in Lincoln.
The average cost of solar panels in Lincoln is $3 per watt. Using this figure, a typical 9.3 would cost about $19,581 before the federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Lincoln homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a vetted solar company in your area for a customized estimate.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-18,129 |
| 3 years | $-15,225 |
| 5 years | $-12,322 |
| 7 years | $-9,418 |
| 9 years | $-6,515 |
| 11 years | $-3,611 |
| 13 years | $-708 |
| 15 years | $2,196 |
| 17 years | $5,099 |
| 19 years | $8,003 |
| 21 years | $10,906 |
| 23 years | $13,810 |
| 25 years | $16,713 |
Top Solar Installers in Lincoln
Many homeowners choose to use a solar installation company since trying to install solar panels on your own can be challenging. Plus, if you're unsure what brand of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Technology
Tesla Energy
4.5
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
4.0
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
See all of the solar companies in Lincoln
Factors that Affect Solar Panel Costs in Lincoln
There are many factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment Size
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay about $2,830 per kilowatt in Lincoln. The model of solar panels and equipment you get is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment goes beyond 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 looking into a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Lincoln, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. You may see national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $13,068 | $10,211 | 14.0 years |
| 8 kW | $2.89 | $17,089 | $13,950 | 13.8 years |
| 10 kW | $2.83 | $20,942 | $17,857 | 13.5 years |
| 12 kW | $2.77 | $24,628 | $21,930 | 13.2 years |
| 14 kW | $2.72 | $28,146 | $26,172 | 13.0 years |
| 16 kW | $2.66 | $31,497 | $30,581 | 12.7 years |
| 18 kW | $2.60 | $34,680 | $35,157 | 12.4 years |
| 20 kW | $2.55 | $37,696 | $39,902 | 12.1 years |
Solar Incentives in Lincoln
| Name | Sales and Use Tax Exemption for Community Renewable Energy Projects |
| Incentive Amount | 100% exemption |
| More Info | Click here |
| Name | ITC |
| Type | Tax Incentive |
| Incentive Amount | 26% of installation cost |
| Website | Visit here |
| Name | Local Option - Property-Assessed Clean Energy Financing |
| Website | Visit here |
| More Info | Click here |
| Name | Dollar and Energy Savings Loans |
| Website | Visit here |
| More Info | Click here |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should go with, since different companies offer different panels.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Warranty: If you're worried about the longevity of your solar energy system, checking your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Best Technology
Tesla Energy
4.5
- 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
4.0
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
EcoWatch's Lincoln, NE Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln?
The average cost of solar panels in Lincoln 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.
Are solar panels free in Lincoln?
You can't get solar panels for free in Lincoln. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
How will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lincoln is currently $174,621, which means you could be looking at a value of about $7,159 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lincoln is a rewarding investment.
How long do solar panels last in Lincoln?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.
