Solar Panel Cost Guide in Big Sioux, SD (2024 Update)
- Big Sioux Solar Installation Cost: $22,074
- 25-Year Savings: $21,012
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Big Sioux
Find out what the average cost of solar panels are in Big Sioux.
Although the national average of solar panels is $2.66 per watt, solar panels in Big Sioux generally cost about 4.Using this figure, a typical 8.8-kW system would cost about $22,074 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Big Sioux homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the significant initial cost, the average Big Sioux homeowner can save around $15,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Big Sioux
| Year | Return on Investment |
|---|---|
| 1 years | $-21,085 |
| 3 years | $-19,107 |
| 5 years | $-17,129 |
| 7 years | $-15,151 |
| 9 years | $-13,173 |
| 11 years | $-11,195 |
| 13 years | $-9,217 |
| 15 years | $-7,239 |
| 17 years | $-5,260 |
| 19 years | $-3,282 |
| 21 years | $-1,304 |
| 23 years | $674 |
| 25 years | $2,652 |
Top Solar Installers in Big Sioux
Many homeowners opt for a solar installer since installing solar panels yourself can be a lot of work. The payback period of solar panels will vary depending on factors like your roof configuration and energy use, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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
Even though the average cost of a solar system in Big Sioux is $22,074, your final cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater 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 $3,580.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Big Sioux, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Big Sioux, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Big Sioux is the company you get to install your PV system. As with choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Big Sioux know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, 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 | $3.72 | $15,637 | $8,713 | 16.1 years |
| 8 kW | $3.65 | $20,449 | $12,018 | 15.7 years |
| 10 kW | $3.58 | $25,060 | $15,524 | 15.4 years |
| 12 kW | $3.51 | $29,471 | $19,230 | 15.1 years |
| 14 kW | $3.44 | $33,681 | $23,136 | 14.8 years |
| 16 kW | $3.37 | $37,690 | $27,243 | 14.5 years |
| 18 kW | $3.29 | $41,499 | $31,551 | 14.2 years |
| 20 kW | $3.22 | $45,108 | $36,059 | 13.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Big Sioux, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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
What is the average cost of installing solar panels in Big Sioux?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Big Sioux?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is going solar worth it?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
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 how much 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 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.