Solar Panel Cost Guide in O'Neill, NE (2023 Update)
- O'Neill Solar Installation Cost: $18,870
- 25-Year Savings: $23,267
- Payback Period: 11.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in O'Neill
Let's have a look at the average cost of solar panels in O'Neill.
Currently, the national average cost of solar panels is $2.66 per watt. However, in O'Neill, the typical cost of solar panels is 2.83 per watt. Using this figure, a typical 9.5-kW system would cost about $18,879 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more. Many homeowners find going solar is a rewarding investment. The average homeowner in O'Neill can save about $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar company in O'Neill for a custom estimate.
Solar savings over time in O'Neill
| Year | Return on Investment |
|---|---|
| 1 years | $-18,730 |
| 3 years | $-18,449 |
| 5 years | $-18,168 |
| 7 years | $-17,887 |
| 9 years | $-17,606 |
| 11 years | $-17,325 |
| 13 years | $-17,044 |
| 15 years | $-16,763 |
| 17 years | $-16,482 |
| 19 years | $-16,201 |
| 21 years | $-15,920 |
| 23 years | $-15,639 |
| 25 years | $-15,358 |
Top Solar Installers in O'Neill
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels by yourself can be challenging. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives and by providing warranties and repairs.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost 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 O'Neill
Factors that Affect Solar Panel Costs in O'Neill
The cost of installing a solar system in O'Neill can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra 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 O'Neill to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The remaining key cost factor you should take into consideration is the installer you choose. Given the booming popularity of renewable energy solutions in O'Neill, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $14,180 | 11.6 years |
| 8 kW | $2.89 | $16,165 | $19,223 | 11.4 years |
| 10 kW | $2.83 | $19,810 | $24,426 | 11.2 years |
| 12 kW | $2.77 | $23,297 | $29,786 | 11.0 years |
| 14 kW | $2.72 | $26,625 | $35,305 | 10.7 years |
| 16 kW | $2.66 | $29,794 | $40,983 | 10.5 years |
| 18 kW | $2.60 | $32,805 | $46,819 | 10.3 years |
| 20 kW | $2.55 | $35,658 | $52,813 | 10.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: If you're worried about the longevity of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
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 O'Neill, NE Solar Cost FAQs
How much does it cost to install solar panels in O'Neill?
This is a difficult question to answer precisely, 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.