Solar Panel Cost Guide in Rapid City, SD (2023 Update)
- Rapid City Solar Installation Cost: $14,220
- 25-Year Savings: $31,649
- Payback Period: 7.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Rapid City
We break down average solar pricing in Rapid City.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rapid City, the average cost of a solar system is 2.39 per watt. The average Rapid City homeowner needs a 8.5-kilowatt system, which would cost about $14,220 with the federal tax credit, or $20,335 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of equipment you want to get, your solar contractor and more. With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Rapid City find investing in solar can pay off big.
You can click the button below to get connected with a top solar installer in Rapid City for a quote for your home.
Solar savings over time in Rapid City
| Year | Return on Investment |
|---|---|
| 1 years | $-12,386 |
| 3 years | $-8,716 |
| 5 years | $-5,047 |
| 7 years | $-1,377 |
| 9 years | $2,293 |
| 11 years | $5,962 |
| 13 years | $9,632 |
| 15 years | $13,301 |
| 17 years | $16,971 |
| 19 years | $20,641 |
| 21 years | $24,310 |
| 23 years | $27,980 |
| 25 years | $31,649 |
Top Solar Installers in Rapid City
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make converting to solar power much easier. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Rapid City
Factors that Affect Solar Panel Costs in Rapid City
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Rapid City: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Rapid City, 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 figure out by looking at past energy bills. Your overall cost can increase by around $2,390 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. Usually, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Rapid City offer solar loans, which reduce your upfront costs of installing a solar system. It's wise to factor 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 how long it'll take to pay back the loan.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Rapid City, you'll have many options to choose from, but each comes at different price points for labor and equipment. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $21,955 | 8.1 years |
| 8 kW | $2.44 | $13,652 | $29,541 | 7.9 years |
| 10 kW | $2.39 | $16,730 | $37,260 | 7.7 years |
| 12 kW | $2.34 | $19,674 | $45,114 | 7.6 years |
| 14 kW | $2.29 | $22,485 | $53,101 | 7.4 years |
| 16 kW | $2.25 | $25,162 | $61,223 | 7.3 years |
| 18 kW | $2.20 | $27,705 | $69,478 | 7.1 years |
| 20 kW | $2.15 | $30,114 | $77,867 | 7.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Reputation: Companies that have been in business for many years likely have a solid 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 service, such as part repairs and replacements.
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Rapid City, SD Solar Cost FAQs
What is the average cost of installing solar panels in Rapid City?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $11,950 for a 5-kW system and $23,900 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 consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Rapid City?
Solar panels aren't free in Rapid City, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How will solar panels impact the value of my home?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How long do solar panels last in Rapid City?
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.