Solar Panel Cost Guide in Waverly, NE (2023 Update)
- Waverly Solar Installation Cost: $18,522
- 25-Year Savings: $19,383
- Payback Period: 12.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Waverly
We go over average solar pricing in Waverly.
In Waverly, solar panels cost about 2.83 per watt on average. The average solar panel system size in Waverly is around 9.3 kilowatts, meaning a cost of about $18,522 for a solar installation, or $26,486 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Waverly homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $15,000 on utility bills over 20 years, many homeowners in Waverly find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar company in Waverly for a quote for your home.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-17,006 |
| 3 years | $-13,974 |
| 5 years | $-10,941 |
| 7 years | $-7,909 |
| 9 years | $-4,876 |
| 11 years | $-1,844 |
| 13 years | $1,188 |
| 15 years | $4,221 |
| 17 years | $7,253 |
| 19 years | $10,286 |
| 21 years | $13,318 |
| 23 years | $16,350 |
| 25 years | $19,383 |
Top Solar Installers in Waverly
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your swap to solar power much easier. The payback period of solar panels will vary based on factors like your location and energy use, but working with a solar company can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Waverly
Factors that Affect Solar Panel Costs in Waverly
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Waverly: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,830. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Waverly, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That's why many Waverly homeowners choose to finance their solar panel systems to make going solar more affordable. It's wise to add the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can influence your pricing. Waverly's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 | $11,951 | 12.7 years |
| 8 kW | $2.89 | $16,165 | $16,252 | 12.5 years |
| 10 kW | $2.83 | $19,810 | $20,711 | 12.2 years |
| 12 kW | $2.77 | $23,297 | $25,328 | 12.0 years |
| 14 kW | $2.72 | $26,625 | $30,104 | 11.7 years |
| 16 kW | $2.66 | $29,794 | $35,039 | 11.5 years |
| 18 kW | $2.60 | $32,805 | $40,132 | 11.2 years |
| 20 kW | $2.55 | $35,658 | $45,383 | 11.0 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. Two 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 past customers.
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
Best Warranty Coverage
Sunpro Solar
- Industry-leading warranty coverage
- Expansive service area
- Some reported communication issues
- No leases or PPAs
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 Waverly, NE Solar Cost FAQs
How much does it cost to install solar panels in Waverly?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly 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 higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Waverly?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property 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 financial benefits from going solar.
Is it worth going solar in Waverly?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know 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 home 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.