Solar Panel Cost Guide in Elko, NV (2025 Update)
- Elko Solar Installation Cost: $14,257
- 25-Year Savings: $14,955
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Elko
Find out what the average cost of installing solar panels is in Elko.
While the national average of solar panels is $2.66 per watt, solar panels in Elko typically cost around 3.Because a 6.6-kW system is needed to cover the energy usage of a typical home in Elko, the average price of going solar will be about $14,257 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs will most likely vary based on your energy needs and what company you go with.With typical savings of about $14,000 on power bills over 20 years, many homeowners in Elko find installing solar panels can be quite rewarding.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Elko
| Year | Return on Investment |
|---|---|
| 1 years | $-13,088 |
| 3 years | $-10,751 |
| 5 years | $-8,414 |
| 7 years | $-6,077 |
| 9 years | $-3,741 |
| 11 years | $-1,404 |
| 13 years | $933 |
| 15 years | $3,270 |
| 17 years | $5,607 |
| 19 years | $7,944 |
| 21 years | $10,281 |
| 23 years | $12,618 |
| 25 years | $14,955 |
Top Solar Installers in Elko
Trying to install solar panels on your own can be a stressful undertaking, which is why hiring a solar installation company is a good option for many homeowners. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar company in Elko, we've organized a list of our top suggestions here:
See all of the solar companies in Elko
Factors that Affect Solar Panel Costs in Elko
The cost of installing a solar system in Elko can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Elko homeowners choose to finance their solar panel systems to make going solar more affordable.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’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Elko is the company you get to install your solar panel system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Elko are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.20 | $13,453 | $9,156 | 14.9 years |
| 8 kW | $3.14 | $17,593 | $12,553 | 14.6 years |
| 10 kW | $3.08 | $21,560 | $16,122 | 14.3 years |
| 12 kW | $3.02 | $25,355 | $19,864 | 14.0 years |
| 14 kW | $2.96 | $28,977 | $23,778 | 13.7 years |
| 16 kW | $2.90 | $32,426 | $27,865 | 13.4 years |
| 18 kW | $2.83 | $35,703 | $32,125 | 13.2 years |
| 20 kW | $2.77 | $38,808 | $36,556 | 12.9 years |
How to Save on Solar Panels
There are many companies available in Elko, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which installer you should choose, since different companies have different panels.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
EcoWatch's Elko, NV Solar Cost FAQs
How much does it cost to install solar panels in Elko?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $15,400 for a 5-kW system and $30,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Are solar panels free in Elko?
A solar panel system isn’t free in Elko, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will having solar panels impact my property value?
Solar panels can increase your home value considerably 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."
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 the amount of 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.