Solar Panel Cost Guide in Cold Springs, NV (2023 Update)
- Cold Springs Solar Installation Cost: $11,043
- 25-Year Savings: $29,454
- Payback Period: 6.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cold Springs
Let's have a look at the average cost of solar in Cold Springs.
The national average cost of solar panels is $2.66 per watt, but in Cold Springs it's 2.52 per watt. Using this figure, a typical 6.3-kW system would cost about $11,043 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Cold Springs depending on several factors, such as the model of solar panels you choose and the solar installer you hire. Even with the significant initial cost, the average Cold Springs homeowner can save about $25,000 on their energy bills over 20 years, which is one of the perks of solar.
To receive a free estimate from a top solar installation company in Cold Springs, you can click the button below.
Solar savings over time in Cold Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-9,423 |
| 3 years | $-6,183 |
| 5 years | $-2,943 |
| 7 years | $296 |
| 9 years | $3,536 |
| 11 years | $6,776 |
| 13 years | $10,016 |
| 15 years | $13,255 |
| 17 years | $16,495 |
| 19 years | $19,735 |
| 21 years | $22,975 |
| 23 years | $26,214 |
| 25 years | $29,454 |
Top Solar Installers in Cold Springs
When switching to solar energy, many homeowners decide to use a solar installation company since putting up solar panels yourself can be a time-consuming project. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be best for your family.
If you'd like to go solar but still aren't certain which solar installer to go with, here are our suggestions for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Cold Springs
Factors that Affect Solar Panel Costs in Cold Springs
For many Cold Springs homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Cold Springs, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar system in Cold Springs, 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 consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,520 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Cold Springs to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. You'll have to consider the long-term cost of loans, including the total 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 original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Cold Springs, and each can charge different amounts for labor and equipment. Additionally, some companies in Cold Springs are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.62 | $11,007 | $27,824 | 7.1 years |
| 8 kW | $2.57 | $14,394 | $37,381 | 7.0 years |
| 10 kW | $2.52 | $17,640 | $47,079 | 6.8 years |
| 12 kW | $2.47 | $20,745 | $56,918 | 6.7 years |
| 14 kW | $2.42 | $23,708 | $66,898 | 6.5 years |
| 16 kW | $2.37 | $26,531 | $77,020 | 6.4 years |
| 18 kW | $2.32 | $29,212 | $87,282 | 6.3 years |
| 20 kW | $2.27 | $31,752 | $97,686 | 6.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: When looking through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. A couple of 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.
- Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Cold Springs, NV Solar Cost FAQs
What is the average cost of installing solar panels in Cold Springs?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $12,600 for a 5-kW system and $25,200 for a 10-kW system after the ITC is applied. It will cost more if you want additional 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 opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Cold Springs?
Leasing solar panels can be an option if you can't 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 financial benefits from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value 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% with a solar installation."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.