Solar Panel Cost Guide in Silver Springs, NV (Mar 2023)
- Silver Springs Solar Installation Cost: $10,743
- 25-Year Savings: $19,251
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Silver Springs
Find out what the average cost of solar panel installation is in Silver Springs.
The national average cost of solar panels is $2.66 per watt, but in Silver Springs it's 2.52 per watt. To account for the typical energy needs of the average home in Silver Springs, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $10,743, or $15,362 before the federal solar tax credit of 30% is applied.
These figures are just averages, and how much solar costs for you will most likely look different based on your energy needs and what company you go with. 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 electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Silver Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-9,543 |
| 3 years | $-7,144 |
| 5 years | $-4,744 |
| 7 years | $-2,345 |
| 9 years | $55 |
| 11 years | $2,454 |
| 13 years | $4,854 |
| 15 years | $7,253 |
| 17 years | $9,653 |
| 19 years | $12,052 |
| 21 years | $14,452 |
| 23 years | $16,851 |
| 25 years | $19,251 |
Top Solar Installers in Silver Springs
Although you can install solar panels on your own, it takes extra energy and expertise. That's why most people choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Silver Springs
Factors that Affect Solar Panel Costs in Silver Springs
For many Silver Springs homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Silver Springs, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,520. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Silver 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 remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time because of interest. Even though solar loans make switching to solar energy more accessible for Silver Springs homeowners, they can also raise the total you pay for your system due to interest. 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 opt for to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Silver Springs, and each can charge different amounts for labor and equipment. Additionally, some companies in Silver Springs know more about local solar incentives and can help you learn about 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 | $2.62 | $11,007 | $18,528 | 9.3 years |
| 8 kW | $2.57 | $14,394 | $24,986 | 9.1 years |
| 10 kW | $2.52 | $17,640 | $31,586 | 9.0 years |
| 12 kW | $2.47 | $20,745 | $38,326 | 8.8 years |
| 14 kW | $2.42 | $23,708 | $45,208 | 8.6 years |
| 16 kW | $2.37 | $26,531 | $52,231 | 8.4 years |
| 18 kW | $2.32 | $29,212 | $59,395 | 8.2 years |
| 20 kW | $2.27 | $31,752 | $66,700 | 8.1 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 a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
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 Silver Springs, NV Solar Cost FAQs
How much does it cost to install solar panels in Silver Springs?
The average cost of solar panels in Silver Springs is about $12,600 for a 5-kW system and $25,200 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Silver Springs?
A solar panel system isn't free in Silver Springs, 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 help lower the cost.
Does Silver Springs have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.