Solar Panel Cost Guide in Norfolk, NE (2023 Update)
- Norfolk Solar Installation Cost: $18,896
- 25-Year Savings: $19,696
- Payback Period: 12.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Norfolk
Let's have a look at the average cost of solar panels in Norfolk.
The average cost of a solar system in Norfolk is 2.83 per watt. Using this figure, a typical 9.5-kW system would cost about $18,899 before the 30% federal solar tax credit is applied.
The true price you pay can go above or below the average in Norfolk depending on a few factors, such as the type of solar panels you choose and the solar installer you hire. With average savings of about $15,000 on power bills over 20 years, many homeowners in Norfolk find going solar can pay off big.
To get a free estimate from a pre-vetted solar installer in Norfolk, you can click the button below.
Solar savings over time in Norfolk
| Year | Return on Investment |
|---|---|
| 1 years | $-17,725 |
| 3 years | $-15,383 |
| 5 years | $-13,041 |
| 7 years | $-10,699 |
| 9 years | $-8,358 |
| 11 years | $-6,016 |
| 13 years | $-3,674 |
| 15 years | $-1,332 |
| 17 years | $1,009 |
| 19 years | $3,351 |
| 21 years | $5,693 |
| 23 years | $8,035 |
| 25 years | $10,376 |
Top Solar Installers in Norfolk
When switching to solar energy, many homeowners prefer to use a solar installation company since overseeing your solar installation yourself can be a challenging project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some near you:
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 Norfolk
Factors that Affect Solar Panel Costs in Norfolk
For many Norfolk homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Norfolk, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,830. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average. It's wise 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 back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Norfolk, and each can charge different amounts for labor and equipment. Additionally, some companies in Norfolk have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $11,914 | 12.7 years |
| 8 kW | $2.89 | $16,165 | $16,202 | 12.5 years |
| 10 kW | $2.83 | $19,810 | $20,648 | 12.2 years |
| 12 kW | $2.77 | $23,297 | $25,254 | 12.0 years |
| 14 kW | $2.72 | $26,625 | $30,017 | 11.8 years |
| 16 kW | $2.66 | $29,794 | $34,939 | 11.5 years |
| 18 kW | $2.60 | $32,805 | $40,020 | 11.3 years |
| 20 kW | $2.55 | $35,658 | $45,259 | 11.0 years |
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:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- 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 considerable role in the company you opt for.
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 Norfolk, NE Solar Cost FAQs
What is the average cost of installing solar panels in Norfolk?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,150 for a 5-kW system and $28,300 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Norfolk?
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 home 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 bang for your buck from going solar.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Norfolk, 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.