Solar Panel Cost Guide in Spring Valley, NV (Aug 2022)

  • Spring Valley Solar Installation Cost: $10,779
  • 25-Year Savings: $24,713
  • Payback Period: 7.6 Years

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 7/19/2022

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Average Cost of Solar Panels in Spring Valley

Let's have a look at the average cost of solar panels in Spring Valley.

Although the national average of solar panels is $2.66 per watt, solar panels in Spring Valley typically cost around $3. Since a 5.8-kW system is needed to cover the energy consumption of a typical home in Spring Valley, the average price of going solar will be about $10,779 before claiming the federal solar tax credit.

Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of equipment you want, your solar contractor and more. For many homeowners, the upfront investment in solar panels is worth paying. On average Spring Valley homeowners see about $23,000 in savings on electricity bills over 20 years.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Spring Valley

Year Return on Investment
1 years $-9,359
3 years $-6,520
5 years $-3,680
7 years $-841
9 years $1,998
11 years $4,838
13 years $7,677
15 years $10,517
17 years $13,356
19 years $16,195
21 years $19,035
23 years $21,874
25 years $24,713

Top Solar Installers in Spring Valley

DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Going with a solar company can make your swap to solar much easier. Another upside of going with a solar installer is that they can help you maximize your ROI by cutting back on future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.

You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Spring Valley:

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 Spring Valley

Factors that Affect Solar Panel Costs in Spring Valley

There are several factors that can influence 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 system.

Solar Equipment Size

Size is one of the largest factors that affects the overall cost of going solar. That's why it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you choose is another factor that will substantially affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Moreover, solar equipment consists of more than 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 researching a solar system that falls within your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Spring Valley to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.

Solar Panel Installation Company

The final major cost factor you should take into consideration is the installer you choose. Given the massive popularity of sustainable energy solutions in Spring Valley, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. 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're looking for 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 $2.62 $11,636 $25,204 7.9 years
8 kW $2.57 $15,217 $33,904 7.7 years
10 kW $2.52 $18,648 $42,753 7.6 years
12 kW $2.47 $21,930 $51,751 7.4 years
14 kW $2.42 $25,063 $60,899 7.3 years
16 kW $2.37 $28,047 $70,195 7.1 years
18 kW $2.32 $30,881 $79,641 7.0 years
20 kW $2.27 $33,566 $89,236 6.8 years

Solar Incentives in Spring Valley

Name ITC
Type Tax Incentive
Incentive Amount 26% of installation cost
Website Visit here

Name NV Energy - Clean Energy Incentive Program
Incentive Amount Solar (As of 9/24/18):
Residential/Commercial/Industrial (25 kW or smaller): $0.20 / watt-AC
Low Income/Nonprofit/Public Entity (25 kW or smaller): $0.45 / watt-AC
Residential/Commercial/Industrial (greater than 25 kW): $0.0250 / kWh
Low Income/Nonprofit/Public Entity (greater than 25 kW): $0.0550 / kWh

Wind (As of 9/24/18):
Residential/Commercial/Industrial: $0.40 / watt-AC
Low Income/Nonprofit/Public Entity: $0.80 / watt-AC
Website Visit here
More Info Click here

Name Portfolio Energy Credits
Incentive Amount Varies; higher value for solar PECs than other technologies
Website Visit here
More Info Click here

How to Save on Solar Panels

Since the brand of solar panels and the installation company you choose significantly impact your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
  • Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar company you're considering has it.
  • Installation Process: When making the switch to solar power, it's important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.

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 Spring Valley, NV Solar Cost FAQs

How much does it cost to install solar panels in Spring Valley?

This is a tough 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

Is cost the most important thing to consider when buying solar panels?

The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities 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.

How will solar panels impact how much my home is worth?

Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Spring Valley is currently $265,221, so you can expect about a value of about $10,874 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Spring Valley is a rewarding investment.

What solar power system size is right for my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 install 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.

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