Solar Panel Cost Guide in Tea, SD (2023 Update)
- Tea Solar Installation Cost: $14,773
- 25-Year Savings: $23,673
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Tea
Find out how much it might cost to go solar in Tea.
The national average cost of solar panels is $2.66 per watt, but in Tea it's 2.39 per watt. The average Tea homeowner needs a 8.8-kilowatt system, which would cost about $14,773 with the federal tax credit, or $21,125 before the 30% tax credit is applied.
These figures are just averages, and the cost of going solar for you will look different based on factors unique to your home and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Tea can save about $17,000 on their energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Tea
| Year | Return on Investment |
|---|---|
| 1 years | $-13,235 |
| 3 years | $-10,159 |
| 5 years | $-7,083 |
| 7 years | $-4,008 |
| 9 years | $-932 |
| 11 years | $2,143 |
| 13 years | $5,219 |
| 15 years | $8,295 |
| 17 years | $11,370 |
| 19 years | $14,446 |
| 21 years | $17,522 |
| 23 years | $20,597 |
| 25 years | $23,673 |
Top Solar Installers in Tea
When making the switch to solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a difficult project. Companies can also offer access to various kinds of the best solar panels and help you decide which one will be best for you.
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 Tea
Factors that Affect Solar Panel Costs in Tea
The cost of installing a solar system in Tea can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,390 per kilowatt in Tea. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Tea, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many Tea homeowners decide to finance their solar panel systems to make paying for solar more affordable. Although solar loans make going solar more accessible for Tea homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Tea is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that offer a range of services for different budgets. The company's size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of 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 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 | $15,685 | 10.0 years |
| 8 kW | $2.44 | $13,652 | $21,181 | 9.8 years |
| 10 kW | $2.39 | $16,730 | $26,810 | 9.6 years |
| 12 kW | $2.34 | $19,674 | $32,574 | 9.4 years |
| 14 kW | $2.29 | $22,485 | $38,471 | 9.2 years |
| 16 kW | $2.25 | $25,162 | $44,503 | 9.0 years |
| 18 kW | $2.20 | $27,705 | $50,668 | 8.8 years |
| 20 kW | $2.15 | $30,114 | $56,967 | 8.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Tea, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, 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 most likely offer high-quality solar panel installation and expertise.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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 Tea, SD Solar Cost FAQs
What is the average cost of installing solar panels in Tea?
The average cost of solar panels in Tea is about $11,950 for a 5-kW system and $23,900 for a 10-kW system before the ITC, but the real cost will depend on stuff like 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 Tea?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback 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 way to go if you want to get the most savings.
Is it worth going solar in Tea?
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 long do solar panels last in Tea?
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.