Solar Panel Cost Guide in Ely, NV (2024 Update)
- Ely Solar Installation Cost: $13,691
- 25-Year Savings: $8,641
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Ely
We break down average solar pricing in Ely.
The national average cost of solar panels is $2.66 per watt, but in Ely it’s 3 per watt.Using this figure, a typical 6.4-kW system would cost about $13,691 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Ely see about $12,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar company in Ely for a personalized estimate.
Solar savings over time in Ely
| Year | Return on Investment |
|---|---|
| 1 years | $-12,823 |
| 3 years | $-11,088 |
| 5 years | $-9,353 |
| 7 years | $-7,617 |
| 9 years | $-5,882 |
| 11 years | $-4,146 |
| 13 years | $-2,411 |
| 15 years | $-675 |
| 17 years | $1,060 |
| 19 years | $2,796 |
| 21 years | $4,531 |
| 23 years | $6,267 |
| 25 years | $8,002 |
Top Solar Installers in Ely
Many homeowners opt for a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
If you're searching for a solar installer in Ely, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Ely
Factors that Affect Solar Panel Costs in Ely
There are many criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The model of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Ely provide solar loans, which reduce the initial cost of installing solar panels.Though solar loans make switching to solar energy more accessible for Ely homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies in Ely, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $5,294 | 17.9 years |
| 8 kW | $3.14 | $17,593 | $7,404 | 17.6 years |
| 10 kW | $3.08 | $21,560 | $9,687 | 17.2 years |
| 12 kW | $3.02 | $25,355 | $12,141 | 16.9 years |
| 14 kW | $2.96 | $28,977 | $14,768 | 16.6 years |
| 16 kW | $2.90 | $32,426 | $17,568 | 16.2 years |
| 18 kW | $2.83 | $35,703 | $20,540 | 15.9 years |
| 20 kW | $2.77 | $38,808 | $23,685 | 15.5 years |
How to Save on Solar Panels
The solar installer you choose will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Ely, NV Solar Cost FAQs
How much does it cost to install solar panels in Ely?
This is a hard question to answer exactly, 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 extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Ely?
Solar panels aren’t free in Ely, but there are some options that can make getting them more affordable, 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?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ely is currently $189,967, which means you can look forward to a value of about $7,789 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ely is a fruitful investment.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.