Solar Panel Cost Guide in Rapid Valley, SD (2023 Update)
- Rapid Valley Solar Installation Cost: $14,214
- 25-Year Savings: $31,521
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rapid Valley
We go over average solar pricing in Rapid Valley.
While the national average of solar panels is $2.66 per watt, solar panels in Rapid Valley typically cost about 2.39. The average solar panel system size in Rapid Valley is around 8.5 kilowatts, meaning a cost of about $14,220 for a solar installation, or $20,335 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Rapid Valley based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Rapid Valley see about $20,000 in savings on energy bills over 20 years.
To get a free quote from a highly rated solar installation company in Rapid Valley, you can click the button below.
Solar savings over time in Rapid Valley
| Year | Return on Investment |
|---|---|
| 1 years | $-12,578 |
| 3 years | $-9,308 |
| 5 years | $-6,037 |
| 7 years | $-2,766 |
| 9 years | $504 |
| 11 years | $3,775 |
| 13 years | $7,045 |
| 15 years | $10,316 |
| 17 years | $13,587 |
| 19 years | $16,857 |
| 21 years | $20,128 |
| 23 years | $23,399 |
| 25 years | $26,669 |
Top Solar Installers in Rapid Valley
Many homeowners opt for a solar panel installer since figuring out how to install solar panels yourself can be hard. A solar installer can also help save you money in the long run by providing warranties, repairs and system component replacements.
You can get a free quote from a local solar installer 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 Rapid Valley
Factors that Affect Solar Panel Costs in Rapid Valley
Although the average cost of a solar system in Rapid Valley is $14,220, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,390. There are many different solar panel brands and the one you pick also affects the cost. In general, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Rapid Valley homeowners decide to finance their solar panel systems to offset upfront costs. While solar loans make adopting solar energy more accessible for Rapid Valley homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Rapid Valley is the company you hire to install your solar system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services for different budgets. The size of the company sometimes plays the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 discount can bring their pricing lower to compete with bigger names.
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 | $21,859 | 8.1 years |
| 8 kW | $2.44 | $13,652 | $29,414 | 7.9 years |
| 10 kW | $2.39 | $16,730 | $37,102 | 7.8 years |
| 12 kW | $2.34 | $19,674 | $44,924 | 7.6 years |
| 14 kW | $2.29 | $22,485 | $52,879 | 7.5 years |
| 16 kW | $2.25 | $25,162 | $60,969 | 7.3 years |
| 18 kW | $2.20 | $27,705 | $69,192 | 7.1 years |
| 20 kW | $2.15 | $30,114 | $77,549 | 7.0 years |
How to Save on Solar Panels
There are numerous companies available in Rapid Valley, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
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
What is the average cost of installing solar panels in Rapid Valley?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $11,950 for a 5-kW system and $23,900 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 higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Rapid Valley?
A solar panel system isn'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 further reduce the cost.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,076.63 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.