Solar Panel Cost Guide in Rapid Valley, SD (2024 Update)
- Rapid Valley Solar Installation Cost: $21,291
- 25-Year Savings: $31,521
- Payback Period: 11.6 Years
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Average Cost of Solar Panels in Rapid Valley
Find out what the average cost of solar panels are in Rapid Valley.
While the national average of solar panels is $2.66 per watt, solar panels in Rapid Valley generally cost about 4.Since a 8.5-kW system is needed to cover the energy needs of a typical home in Rapid Valley, the average price of going solar will be about $21,291 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar power is worth paying. On average Rapid Valley homeowners see about $20,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Rapid Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-19,655 |
| 3 years | $-16,385 |
| 5 years | $-13,114 |
| 7 years | $-9,843 |
| 9 years | $-6,573 |
| 11 years | $-3,302 |
| 13 years | $-32 |
| 15 years | $3,239 |
| 17 years | $6,510 |
| 19 years | $9,780 |
| 21 years | $13,051 |
| 23 years | $16,322 |
| 25 years | $19,592 |
Top Solar Installers in Rapid Valley
Many homeowners choose to use a solar installation company since installing solar panels yourself can be challenging. Also, companies with a high reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
There are various licensed solar professionals that can help you install your solar system. 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 Rapid Valley
Factors that Affect Solar Panel Costs in Rapid Valley
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Rapid Valley: 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
When it comes to estimating the price of a solar energy system in Rapid Valley, one of the most important 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 around $3,580 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Rapid Valley average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies in Rapid Valley, and each can charge different amounts for labor and equipment.The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 discount 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 | $3.72 | $15,637 | $16,662 | 12.1 years |
| 8 kW | $3.65 | $20,449 | $22,616 | 11.9 years |
| 10 kW | $3.58 | $25,060 | $28,772 | 11.6 years |
| 12 kW | $3.51 | $29,471 | $35,127 | 11.4 years |
| 14 kW | $3.44 | $33,681 | $41,684 | 11.2 years |
| 16 kW | $3.37 | $37,690 | $48,440 | 10.9 years |
| 18 kW | $3.29 | $41,499 | $55,398 | 10.7 years |
| 20 kW | $3.22 | $45,108 | $62,555 | 10.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Rapid Valley, SD Solar Cost FAQs
How much does it cost to install solar panels in Rapid Valley?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally 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 additional solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Rapid Valley?
Solar panels aren’t free in Rapid Valley, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Rapid Valley?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.