Solar Panel Cost Guide in Spearfish, SD (2025 Update)
- Spearfish Solar Installation Cost: $21,241
- 25-Year Savings: $30,123
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Spearfish
See how much it might cost to install solar panels in Spearfish.
The national average cost of solar panels is $2.66 per watt, but in Spearfish it’s 4 per watt.To account for the typical energy needs of the average home in Spearfish, most homeowners require a 8.5-kilowatt system. Using the figure above, a solar installation costs around $21,241, or $30,375 before the federal solar tax credit of 0 is applied.
These figures are just averages, and the cost of going solar for you will most likely differ based on factors unique to your home and what company you go with.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Spearfish can save about $21,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Spearfish
| Year | Return on Investment |
|---|---|
| 1 years | $-19,606 |
| 3 years | $-16,335 |
| 5 years | $-13,065 |
| 7 years | $-9,794 |
| 9 years | $-6,523 |
| 11 years | $-3,253 |
| 13 years | $18 |
| 15 years | $3,288 |
| 17 years | $6,559 |
| 19 years | $9,830 |
| 21 years | $13,100 |
| 23 years | $16,371 |
| 25 years | $19,642 |
Top Solar Installers in Spearfish
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your swap to solar power much easier. The payback period of solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to go solar but still aren’t sure which solar system company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Spearfish
Factors that Affect Solar Panel Costs in Spearfish
Even though the average cost of a solar system in Spearfish is $21,241, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,580. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you’re looking to install 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
Many homeowners find the average cost of solar in Spearfish to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can affect how much it costs. Spearfish’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $15,724 | 12.5 years |
| 8 kW | $3.65 | $20,449 | $21,366 | 12.2 years |
| 10 kW | $3.58 | $25,060 | $27,209 | 12.0 years |
| 12 kW | $3.51 | $29,471 | $33,252 | 11.7 years |
| 14 kW | $3.44 | $33,681 | $39,496 | 11.5 years |
| 16 kW | $3.37 | $37,690 | $45,940 | 11.3 years |
| 18 kW | $3.29 | $41,499 | $52,584 | 11.0 years |
| 20 kW | $3.22 | $45,108 | $59,429 | 10.8 years |
How to Save on Solar Panels
There are a large number of companies available in Spearfish, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: The type of solar panel you want to get plays a part in which installer you should go with, since different companies have different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
EcoWatch's Spearfish, SD Solar Cost FAQs
What is the average cost of installing solar panels in Spearfish?
The average cost of solar panels in Spearfish is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Spearfish?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located 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 $1,045.37 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.