Solar Panel Cost Guide in Indian Hills, NV (2023 Update)
- Indian Hills Solar Installation Cost: $10,707
- 25-Year Savings: $19,286
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Indian Hills
See how much it might cost to switch to solar power in Indian Hills.
In Indian Hills, solar panels cost about 2.52 per watt on average. Using this figure, a typical 6.1-kW system would cost about $10,707 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Indian Hills depending on several factors, such as the type of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar panel company in your area for a custom estimate.
Solar savings over time in Indian Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-9,508 |
| 3 years | $-7,108 |
| 5 years | $-4,709 |
| 7 years | $-2,309 |
| 9 years | $90 |
| 11 years | $2,490 |
| 13 years | $4,889 |
| 15 years | $7,289 |
| 17 years | $9,688 |
| 19 years | $12,088 |
| 21 years | $14,487 |
| 23 years | $16,887 |
| 25 years | $19,286 |
Top Solar Installers in Indian Hills
Installing solar panels by yourself can be a dangerous undertaking, which is why using a solar installer is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for you.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Indian Hills
Factors that Affect Solar Panel Costs in Indian Hills
There are several factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the price of solar panels in Indian Hills, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can determine by looking at past electricity bills. Your overall cost can increase by around $2,520 for each additional kilowatt you need. The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Indian Hills, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The remaining major cost factor you should consider is the installer you choose. Given the massive popularity of green energy solutions in Indian Hills, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $18,631 | 9.3 years |
| 8 kW | $2.57 | $14,394 | $25,123 | 9.1 years |
| 10 kW | $2.52 | $17,640 | $31,756 | 8.9 years |
| 12 kW | $2.47 | $20,745 | $38,531 | 8.7 years |
| 14 kW | $2.42 | $23,708 | $45,447 | 8.6 years |
| 16 kW | $2.37 | $26,531 | $52,504 | 8.4 years |
| 18 kW | $2.32 | $29,212 | $59,702 | 8.2 years |
| 20 kW | $2.27 | $31,752 | $67,041 | 8.0 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds 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, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which type 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 ask for their list of offerings before deciding.
- Warranty: If you're concerned about the longevity of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: When reading over your solar installer'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 the company going out of business.
- Installation Process: When going solar, it's important to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the project timeline.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
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 Indian Hills, NV Solar Cost FAQs
What is the average cost of installing solar panels in Indian Hills?
This is a difficult question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Indian Hills?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
How much can I save on energy bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $987.93 per year.
How often do you have to replace solar panels?
On average, solar panels can last 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.
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.