Solar Panel Cost Guide in Silver Springs, NV (2024 Update)
- Silver Springs Solar Installation Cost: $13,137
- 25-Year Savings: $19,246
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Silver Springs
Find out what the average cost of installing solar panels is in Silver Springs.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Silver Springs, the average cost of a solar system is 3 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 figure above, a solar installation costs about $13,137, or $18,786 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar system you choose, your solar contractor and more.Despite the high initial cost, the average Silver Springs homeowner can save about $19,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar panel company in your area for a custom estimate.
Solar savings over time in Silver Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-11,965 |
| 3 years | $-9,622 |
| 5 years | $-7,280 |
| 7 years | $-4,937 |
| 9 years | $-2,594 |
| 11 years | $-252 |
| 13 years | $2,091 |
| 15 years | $4,434 |
| 17 years | $6,776 |
| 19 years | $9,119 |
| 21 years | $11,462 |
| 23 years | $13,805 |
| 25 years | $16,147 |
Top Solar Installers in Silver Springs
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Taking advantage of an installer can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy use, but going with a solar company can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Silver Springs
Factors that Affect Solar Panel Costs in Silver Springs
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,080 per kilowatt in Silver Springs.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Silver Springs provide solar loans, which reduce your upfront costs of installing solar panels.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you pick will influence your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fit into your budget.
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 | $16,082 | 11.4 years |
| 8 kW | $3.14 | $17,593 | $21,788 | 11.2 years |
| 10 kW | $3.08 | $21,560 | $27,666 | 10.9 years |
| 12 kW | $3.02 | $25,355 | $33,716 | 10.7 years |
| 14 kW | $2.96 | $28,977 | $39,940 | 10.5 years |
| 16 kW | $2.90 | $32,426 | $46,335 | 10.3 years |
| 18 kW | $2.83 | $35,703 | $52,903 | 10.1 years |
| 20 kW | $2.77 | $38,808 | $59,644 | 9.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Silver Springs, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Even though reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
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 Silver Springs, NV Solar Cost FAQs
What is the average cost of installing solar panels in Silver Springs?
This is a difficult question to answer precisely, because the cost depends on a variety of 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. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Silver Springs?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.