Solar Panel Cost Guide in Spring Valley, NV (2024 Update)
- Spring Valley Solar Installation Cost: $12,462
- 25-Year Savings: $25,295
- Payback Period: 8.8 Years
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Average Cost of Solar Panels in Spring Valley
We go over average solar pricing in Spring Valley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Spring Valley, the average cost of solar panels is 3 per watt.Because a 5.8-kW system is needed to cover the energy usage of a typical home in Spring Valley, the average price of going solar will be about $12,462 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average Spring Valley homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.Even with the significant initial cost, the average Spring Valley homeowner can save about $23,000 on their energy bills over 20 years, which is one of the benefits of solar.
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 Spring Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-11,125 |
| 3 years | $-8,450 |
| 5 years | $-5,775 |
| 7 years | $-3,100 |
| 9 years | $-425 |
| 11 years | $2,250 |
| 13 years | $4,925 |
| 15 years | $7,600 |
| 17 years | $10,275 |
| 19 years | $12,949 |
| 21 years | $15,624 |
| 23 years | $18,299 |
| 25 years | $20,974 |
Top Solar Installers in Spring Valley
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar panel installer can make switching to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for your family.
You can get a free quote from a local solar installer on how much your investment in solar 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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Spring Valley
Factors that Affect Solar Panel Costs in Spring Valley
For many Spring Valley homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Spring Valley, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Spring Valley, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,080 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Spring Valley, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Spring Valley offer solar loans, which reduce the initial cost of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Spring Valley, and each can charge different amounts for labor and equipment.Additionally, some companies in Spring Valley 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 | $3.20 | $13,453 | $23,387 | 9.1 years |
| 8 kW | $3.14 | $17,593 | $31,528 | 9.0 years |
| 10 kW | $3.08 | $21,560 | $39,841 | 8.8 years |
| 12 kW | $3.02 | $25,355 | $48,327 | 8.6 years |
| 14 kW | $2.96 | $28,977 | $56,985 | 8.4 years |
| 16 kW | $2.90 | $32,426 | $65,816 | 8.3 years |
| 18 kW | $2.83 | $35,703 | $74,819 | 8.1 years |
| 20 kW | $2.77 | $38,808 | $83,995 | 7.9 years |
How to Save on Solar Panels
There are a lot of companies available in Spring Valley, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The kind of solar panel you’d like plays a part in which installer you should go with, since different companies provide different panels.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
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
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Spring Valley, NV Solar Cost FAQs
How much does it cost to install solar panels in Spring Valley?
The average cost of solar panels in Spring Valley is about $15,400 for a 5-kW system and $30,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Spring Valley?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,228.03 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.