Solar Panel Cost Guide in Canton, SD (2023 Update)
- Canton Solar Installation Cost: $14,773
- 25-Year Savings: $19,720
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Canton
We break down average solar pricing in Canton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Canton, the average cost of solar panels is 2.39 per watt. The average Canton homeowner needs a 8.8-kilowatt system, which would cost about $14,773 with the federal tax credit, or $21,125 before the 30% tax credit is applied.
These figures are only averages, and how much solar costs for you may vary based on your energy needs and what company you choose to go with. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $15,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Canton for a quote for your home.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-13,393 |
| 3 years | $-10,633 |
| 5 years | $-7,874 |
| 7 years | $-5,115 |
| 9 years | $-2,355 |
| 11 years | $404 |
| 13 years | $3,164 |
| 15 years | $5,923 |
| 17 years | $8,682 |
| 19 years | $11,442 |
| 21 years | $14,201 |
| 23 years | $16,961 |
| 25 years | $19,720 |
Top Solar Installers in Canton
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. Because of that, most homeowners choose a solar panel installer. Some solar installers, especially local ones, can help you take advantage of incentives in Canton, optimizing your ROI.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Canton
Factors that Affect Solar Panel Costs in Canton
Even though the average cost of a solar system in Canton is $14,773, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend around $2,390 per kilowatt in Canton. The brand and type 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 often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a popular choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $12,999 | 11.1 years |
| 8 kW | $2.44 | $13,652 | $17,599 | 10.9 years |
| 10 kW | $2.39 | $16,730 | $22,334 | 10.7 years |
| 12 kW | $2.34 | $19,674 | $27,202 | 10.5 years |
| 14 kW | $2.29 | $22,485 | $32,204 | 10.3 years |
| 16 kW | $2.25 | $25,162 | $37,340 | 10.1 years |
| 18 kW | $2.20 | $27,705 | $42,610 | 9.9 years |
| 20 kW | $2.15 | $30,114 | $48,013 | 9.6 years |
How to Save on Solar Panels
There are many companies available in Canton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Read the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
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 Canton, SD Solar Cost FAQs
What is the average cost of installing solar panels in Canton?
The average cost of solar panels in Canton is about $11,950 for a 5-kW system and $23,900 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
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 $781.27 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.