Solar Panel Cost Guide in Big Sioux, SD (2023 Update)
- Big Sioux Solar Installation Cost: $14,739
- 25-Year Savings: $21,009
- Payback Period: 10.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Big Sioux
Let's have a look at the average cost of solar panels in Big Sioux.
While the national average of solar panels is $2.66 per watt, solar panels in Big Sioux generally cost about 2.39. To cover the typical energy needs of the average home in Big Sioux, most homeowners require a 8.8-kilowatt system. Using the figure above, a solar installation costs around $14,739, or $21,077 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Big Sioux homeowners. The price 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. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a top solar installer in Big Sioux for a personalized estimate.
Solar savings over time in Big Sioux
| Year | Return on Investment |
|---|---|
| 1 years | $-13,309 |
| 3 years | $-10,449 |
| 5 years | $-7,589 |
| 7 years | $-4,730 |
| 9 years | $-1,870 |
| 11 years | $990 |
| 13 years | $3,850 |
| 15 years | $6,710 |
| 17 years | $9,570 |
| 19 years | $12,430 |
| 21 years | $15,290 |
| 23 years | $18,149 |
| 25 years | $21,009 |
Top Solar Installers in Big Sioux
When going solar, many homeowners opt to go with a solar installation company since putting up a solar system yourself can be a difficult project. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your home.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Big Sioux
Factors that Affect Solar Panel Costs in Big Sioux
The cost of installing a solar system in Big Sioux can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Big Sioux, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by about $2,390 for each additional kilowatt you need. The model of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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 for a solar system that's in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Big Sioux to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. Although solar loans make going solar more accessible for Big Sioux homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Big Sioux have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.49 | $10,440 | $13,911 | 10.7 years |
| 8 kW | $2.44 | $13,652 | $18,815 | 10.5 years |
| 10 kW | $2.39 | $16,730 | $23,854 | 10.3 years |
| 12 kW | $2.34 | $19,674 | $29,026 | 10.1 years |
| 14 kW | $2.29 | $22,485 | $34,332 | 9.9 years |
| 16 kW | $2.25 | $25,162 | $39,772 | 9.7 years |
| 18 kW | $2.20 | $27,705 | $45,345 | 9.5 years |
| 20 kW | $2.15 | $30,114 | $51,053 | 9.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before making your decision.
- Installation Process: When making the switch to solar power, it's essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the project timeline.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Big Sioux, SD Solar Cost FAQs
How much does it cost to install solar panels in Big Sioux?
The average cost of solar panels in Big Sioux is about $11,950 for a 5-kW system and $23,900 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 use.
Is it better to lease or buy solar panels in Big Sioux?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Big Sioux?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.