Solar Panel Cost Guide in Yankton, SD (2024 Update)
- Yankton Solar Installation Cost: $21,888
- 25-Year Savings: $23,331
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Yankton
Let’s have a look at the average cost of solar panels in Yankton.
Although the national average of solar panels is $2.66 per watt, solar panels in Yankton typically cost about 4.The average Yankton homeowner needs a 8.7-kilowatt system, which would cost about $21,888 with the federal tax credit, or $31,300 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with.Even with the significant upfront cost, the average Yankton homeowner can save around $17,000 on their power bills over 20 years, which is one of the positives of solar.
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Solar savings over time in Yankton
| Year | Return on Investment |
|---|---|
| 1 years | $-20,515 |
| 3 years | $-17,769 |
| 5 years | $-15,023 |
| 7 years | $-12,276 |
| 9 years | $-9,530 |
| 11 years | $-6,784 |
| 13 years | $-4,037 |
| 15 years | $-1,291 |
| 17 years | $1,455 |
| 19 years | $4,201 |
| 21 years | $6,948 |
| 23 years | $9,694 |
| 25 years | $12,440 |
Top Solar Installers in Yankton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Going with a solar company can make your swap to solar power much easier. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be right for you.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Yankton
Factors that Affect Solar Panel Costs in Yankton
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Yankton: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,580. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Yankton offer solar loans, which reduce the initial cost of installing solar panels.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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Yankton is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different price points.Additionally, some companies in Yankton know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,427 | 15.0 years |
| 8 kW | $3.65 | $20,449 | $14,304 | 14.7 years |
| 10 kW | $3.58 | $25,060 | $18,381 | 14.4 years |
| 12 kW | $3.51 | $29,471 | $22,659 | 14.1 years |
| 14 kW | $3.44 | $33,681 | $27,137 | 13.8 years |
| 16 kW | $3.37 | $37,690 | $31,816 | 13.6 years |
| 18 kW | $3.29 | $41,499 | $36,695 | 13.3 years |
| 20 kW | $3.22 | $45,108 | $41,775 | 13.0 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Yankton, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
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 Yankton, SD Solar Cost FAQs
How much does it cost to install solar panels in Yankton?
The average cost of solar panels in Yankton 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.