Solar Panel Cost Guide in Silver Springs, NV (Nov 2022)

  • Silver Springs Solar Installation Cost: $10,743
  • 25-Year Savings: $19,251
  • Payback Period: 9.0 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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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 $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 per-watt figure above, a solar installation costs about $10,743, or $7,950 after 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. The expertise that solar installers provide can be useful as well, particularly if you don't quite know what type of solar equipment would be right for your home.

If you're looking for a solar company in Silver Springs, the EcoWatch team has organized a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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

The cost of installing a solar system in Silver Springs can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.

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 electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $2,520 per kilowatt in Silver Springs. The brand and type of equipment you get 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 more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to 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 finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Silver Springs, 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 specific equipment options like Tesla Powerwall batteries or extra 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 $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 solar company you choose will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:

  • Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
  • Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Regional Coverage

Momentum Solar

★★★★★
4.5

  • 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?

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 real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.

Should I lease or buy solar panels in Silver Springs?

Leasing solar panels can be an appealing choice, as it usually 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 way to go if you want to maximize your savings.

Do solar panels increase how much your home is worth?

Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for 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 solar panels."

How often do you have to replace solar panels?

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 larger level 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.

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