Solar Panel Cost Guide in Silver Springs, NV (2023 Update)
- Silver Springs Solar Installation Cost: $10,748
- 25-Year Savings: $19,246
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Silver Springs
We break down average solar pricing in Silver Springs.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Silver Springs, the average cost of solar panels is 2.52 per watt. Using this figure, a typical 6.1-kW system would cost about $10,743 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Silver Springs depending on several factors, such as the kind of solar panels you choose and the solar contractor you hire. With average savings of about $19,000 on power bills over 20 years, many homeowners in Silver Springs find going solar can be quite rewarding.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Silver Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-10,648 |
| 3 years | $-10,448 |
| 5 years | $-10,248 |
| 7 years | $-10,048 |
| 9 years | $-9,848 |
| 11 years | $-9,648 |
| 13 years | $-9,448 |
| 15 years | $-9,248 |
| 17 years | $-9,048 |
| 19 years | $-8,848 |
| 21 years | $-8,648 |
| 23 years | $-8,449 |
| 25 years | $-8,249 |
Top Solar Installers in Silver Springs
Although you can install solar panels yourself, it requires extra time and knowledge. Because of that, the majority of homeowners choose a solar panel installer. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
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
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Silver Springs: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly 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 model of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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 into a solar system that's in your budget.
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. Thankfully, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. Though solar loans make adopting solar energy more accessible for Silver Springs homeowners, they can also increase 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
A final consideration when trying to evaluate the cost of solar for your home or business in Silver Springs is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. 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 cost more. It's best to do some research and go with the company that offers the products, warranties and services you want and also is within 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 | $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
Since the brand of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When reading over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as updating your electrical system or roof.
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
How much does it cost to install solar panels in Silver Springs?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels completely eradicate my energy bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Silver Springs, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.