Solar Panel Cost Guide in Mitchell, SD (2024 Update)
- Mitchell Solar Installation Cost: $21,735
- 25-Year Savings: $24,975
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Mitchell
Let’s have a look at the average cost of solar in Mitchell.
The average cost of a solar panel system in Mitchell is 4 per watt.The average Mitchell homeowner needs a 8.7-kilowatt system, which would cost about $21,735 with the federal tax credit, or $31,081 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mitchell homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar installer in Mitchell for a quote for your home.
Solar savings over time in Mitchell
| Year | Return on Investment |
|---|---|
| 1 years | $-20,277 |
| 3 years | $-17,361 |
| 5 years | $-14,445 |
| 7 years | $-11,528 |
| 9 years | $-8,612 |
| 11 years | $-5,695 |
| 13 years | $-2,779 |
| 15 years | $137 |
| 17 years | $3,054 |
| 19 years | $5,970 |
| 21 years | $8,886 |
| 23 years | $11,803 |
| 25 years | $14,719 |
Top Solar Installers in Mitchell
When making the switch to solar, many homeowners prefer to hire a solar company since putting up solar panels yourself can be a time-consuming project. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but going with a solar installer can shorten it. Your provider will be able to help you apply for incentives available in your area.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Mitchell
Factors that Affect Solar Panel Costs in Mitchell
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Mitchell: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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 panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Mitchell, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Mitchell offer solar loans, which reduce your upfront costs of installing solar.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 reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.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 come at a higher cost. It’s best to do some research and find a company that provides 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 | $3.72 | $15,637 | $11,677 | 14.3 years |
| 8 kW | $3.65 | $20,449 | $15,971 | 14.0 years |
| 10 kW | $3.58 | $25,060 | $20,465 | 13.8 years |
| 12 kW | $3.51 | $29,471 | $25,159 | 13.5 years |
| 14 kW | $3.44 | $33,681 | $30,054 | 13.2 years |
| 16 kW | $3.37 | $37,690 | $35,149 | 12.9 years |
| 18 kW | $3.29 | $41,499 | $40,445 | 12.7 years |
| 20 kW | $3.22 | $45,108 | $45,941 | 12.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Mitchell, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and types of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Mitchell, SD Solar Cost FAQs
How much does it cost to install solar panels in Mitchell?
The average cost of solar panels in Mitchell is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Mitchell have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a 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 account for 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.