Solar Panel Cost Guide in Vermillion, SD (2025 Update)
- Vermillion Solar Installation Cost: $22,031
- 25-Year Savings: $22,797
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Vermillion
Find out how much it might cost to install solar panels in Vermillion.
The average cost of a solar system in Vermillion is 4 per watt.To account for the typical energy usage of the average home in Vermillion, most homeowners require a 8.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $22,031, or $31,504 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of solar system you want to get, your solar contractor and more.Even with the high upfront cost, the average Vermillion homeowner can save around $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a vetted solar panel company in your area for a custom quote.
Solar savings over time in Vermillion
| Year | Return on Investment |
|---|---|
| 1 years | $-20,658 |
| 3 years | $-17,911 |
| 5 years | $-15,165 |
| 7 years | $-12,419 |
| 9 years | $-9,673 |
| 11 years | $-6,926 |
| 13 years | $-4,180 |
| 15 years | $-1,434 |
| 17 years | $1,312 |
| 19 years | $4,059 |
| 21 years | $6,805 |
| 23 years | $9,551 |
| 25 years | $12,298 |
Top Solar Installers in Vermillion
Although it's possible to install solar panels on your own, it requires extra time and knowledge. That's why the majority of homeowners choose a solar panel installer. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Vermillion
Factors that Affect Solar Panel Costs in Vermillion
There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar 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 around $3,580 per kilowatt in Vermillion.The type of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Vermillion offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The remaining key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Vermillion, 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 pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down 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 | $3.72 | $15,637 | $9,959 | 15.3 years |
| 8 kW | $3.65 | $20,449 | $13,680 | 15.0 years |
| 10 kW | $3.58 | $25,060 | $17,601 | 14.7 years |
| 12 kW | $3.51 | $29,471 | $21,723 | 14.4 years |
| 14 kW | $3.44 | $33,681 | $26,045 | 14.1 years |
| 16 kW | $3.37 | $37,690 | $30,568 | 13.8 years |
| 18 kW | $3.29 | $41,499 | $35,291 | 13.5 years |
| 20 kW | $3.22 | $45,108 | $40,214 | 13.2 years |
How to Save on Solar Panels
The solar company you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar system is installed, such as repairing your electrical system or roof.
EcoWatch's Vermillion, SD Solar Cost FAQs
What is the average cost of installing solar panels in Vermillion?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Vermillion?
You can’t get solar panels for free in Vermillion. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Vermillion, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Vermillion?
On average, solar panels can last 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 amount 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.