Solar Panel Cost Guide in Spring Valley, NV (2023 Update)
- Spring Valley Solar Installation Cost: $10,196
- 25-Year Savings: $25,296
- Payback Period: 7.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Spring Valley
Find out what the average cost of installing solar panels is in Spring Valley.
The average cost of a solar panel system in Spring Valley is 2.52 per watt. The average Spring Valley homeowner needs a 5.8-kilowatt system, which would cost about $10,196 with the federal tax credit, or $14,580 before the 30% tax credit is applied.
These figures are only averages, and the cost of going solar for you will look different based on factors unique to your home and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Spring Valley can save around $23,000 on their power bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Spring Valley that can help you get a more accurate cost estimate for your home.
Solar savings over time in Spring Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-8,776 |
| 3 years | $-5,937 |
| 5 years | $-3,098 |
| 7 years | $-258 |
| 9 years | $2,581 |
| 11 years | $5,420 |
| 13 years | $8,260 |
| 15 years | $11,099 |
| 17 years | $13,938 |
| 19 years | $16,778 |
| 21 years | $19,617 |
| 23 years | $22,456 |
| 25 years | $25,296 |
Top Solar Installers in Spring Valley
Many homeowners opt for a solar panel company since installing solar panels on your own can be hard. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar company to go with, here are our suggestions for providers 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 Spring Valley
Factors that Affect Solar Panel Costs in Spring Valley
The cost of installing a solar system in Spring Valley can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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 kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Spring Valley homeowners opt to finance their solar panel systems to offset upfront costs. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect your pricing. Spring Valley's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for 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 | $25,833 | 7.5 years |
| 8 kW | $2.57 | $14,394 | $34,727 | 7.3 years |
| 10 kW | $2.52 | $17,640 | $43,761 | 7.2 years |
| 12 kW | $2.47 | $20,745 | $52,937 | 7.0 years |
| 14 kW | $2.42 | $23,708 | $62,254 | 6.9 years |
| 16 kW | $2.37 | $26,531 | $71,711 | 6.8 years |
| 18 kW | $2.32 | $29,212 | $81,310 | 6.6 years |
| 20 kW | $2.27 | $31,752 | $91,051 | 6.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: The model of solar panel you'd like to install plays a part in which installer you should opt for, since different companies offer different panels.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is 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 Spring Valley, NV Solar Cost FAQs
What is the average cost of installing solar panels in Spring Valley?
This is a difficult question to answer precisely, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Spring Valley?
You can't get solar panels for free in Spring Valley. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. 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.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.