Solar Panel Cost Guide in Ely, NV (2025 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.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ely, the typical cost of solar panels is 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.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as how many panels you need, your energy consumption and what installation company you go with.For many homeowners, the upfront cost of solar power is worth paying. On average homeowners in Ely see about $12,000 in savings on utility bills over 20 years.
To calculate your potential ROI and connect with a local solar expert, click the button below.
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
Although you can install solar panels yourself, it requires extra labor and knowledge. That's one of the reasons the majority of homeowners choose a solar panel installer. 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 put together a list of our top suggestions here:
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, depending on your interest rate and how long you take to pay off the loan. If you put down 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 role in your total costs. There are about 3 solar installation companies operating throughout Ely, and each can charge different amounts for labor and equipment.Additionally, some companies in Ely 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 that service. 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 | $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 company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Installation Process: When making the switch to solar energy, it’s essential to maintain an open line of communication with your solar company. Make sure you understand how the installation process works and the project completion timeline.
EcoWatch's Ely, NV Solar Cost FAQs
How much does it cost to install solar panels in Ely?
The average cost of solar panels in Ely is about $15,400 for a 5-kW system and $30,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Ely?
You can’t get solar panels for free in Ely. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Do solar panels increase your property value?
Solar panels can increase your home value significantly 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 long do solar panels last in Ely?
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.