Solar Panel Cost In 2023 (Homeowner’s Installation Savings Guide)
By Karsten Neumeister /
Here’s a quick look at the estimated cost of solar in Wyoming:
*Average system size is calculated using data from the Energy Information Administration. This price is after tax credit.
**Payback period is calculated assuming the system is purchased in cash.
Each product and or company featured here has been independently selected by the writer. You can learn more about our review methodology here. If you make a purchase using the links included, we may earn commission.
The typical cost of solar panels in Wyoming is $2.57 per watt, which is cheaper than the national average of $2.66 per watt. According to our market research, the average Wyoming resident needs a 9-kilowatt solar energy system to offset their energy costs.
Plugging those figures into our solar calculator, installing a solar panel system in Wyoming would cost a homeowner $23,130 on average, or $16,191 after claiming the 30% federal solar tax credit.
Based on the company you choose and the size of the solar system needed to power your home, we’ve estimated that the average solar panel installation in Wyoming will cost between $15,420 and $30,840 before applying any tax incentives or solar rebates.
The table below shows the average prices for a solar panel system in Wyoming before and after the 30% federal tax credit:
|Size of Solar Panel System||Wyoming Solar Panel Cost||Cost After Federal Tax Credit|
Looking for the best solar companies in Wyoming? We’ve vetted all of the solar installers in the Cowboy State to find the most reputable and affordable companies. Click here to learn more.
Your choice of installation company, solar equipment and financing option will all contribute to the overall cost of your solar panel system. However, you must also consider the discount that the federal solar tax credit and Wyoming’s statewide net metering will provide when adding up the total value you’ll receive from your solar panels.
What solar equipment you decide to install on your home will depend largely on the climate and weather of your location, as well as how much sunlight strikes your roof. This can vary within the state and even between homes. In general, Wyoming experiences hot summers and cold winters, and extreme weather events are relatively uncommon.
That’s good news for homeowners looking to install a solar panel system in Wyoming. Talk to your local contractor to see if you should invest in high-efficiency solar panels if your space is limited, a comprehensive warranty or extra equipment like batteries based on the needs of your home.
Wyoming doesn’t offer much in terms of statewide incentives or financing assistance. But there are certainly options that are still available to homeowners.
If you have built up home equity and a good credit score, a home equity line of credit (HELOC) may be a great financing option for your solar panel system in Wyoming. This program allows you to use your home as collateral for a zero-down solar loan with low interest.
Banks offering solar loans throughout Wyoming include US Bank, Wells Fargo, Bank of the West and First Interstate. Many local banks and credit unions offer solar-specific loans as well. You can learn more about what banks offer solar loans in Wyoming here.
Although Wyoming is not a leader in solar energy, there are still plenty of solar installers to choose from. Each installer will offer varying estimates based on your proximity to them, as well as the quality of their equipment, warranties and workmanship.
In general, larger companies offer pricier equipment, but cheaper labor. In contrast, local companies tend to offer more affordable equipment, but costlier labor.
Check out our top brand highlights below and read more on our best solar companies in Wyoming page:
You can also look at the Wyoming renewables website to find other local solar contractors.
You’ll also want to be aware of these additional considerations and costs when installing solar panels in Wyoming:
Watch Below: What Should You Know About Recent Changes to the Solar Tax Credit?
Wyoming is not one of the top states for solar, and that could be because there aren’t many state-manded solar incentives or solar tax exemptions there. However, many Wyoming residents are still reaping other benefits of solar energy sources, like lower electricity rates and independence from utility companies.
Whatever your reason for making the switch to clean energy alternatives, we still want you to get the maximum reward. Here are some solar financial incentives you can capitalize on in Wyoming:
|Wyoming Solar Incentive||How it Affects the Cost of Solar Panels in Wyoming|
|Wyoming PACE Financing Program||Property Assessed Clean Energy (PACE) financing allows property owners to cover the upfront costs of energy improvements. While it may not reduce the price of your solar system, it will provide you more time to pay them off so you can use some of the savings from your electricity.|
|Net Metering||Wyoming established a statewide net metering program in 2001. As the law stands, an investor-owned utility, electric cooperative or irrigation district has to compensate solar users for the net excess generation (NEG) they provide to the grid. The NEG is treated as a kilowatt-hour credit or compensation on the solar user’s net bill. At the beginning of the calendar year, the energy provider will purchase any unused credits at the utility’s “avoided cost” (basically “wholesale”) rate.|
|Local Solar Rebates & Incentives||Some Wyoming utility companies will offer incentives for energy efficiency upgrades, like Rocky Mountain Power’s “Wattsmart Residential Efficiency Program.” However, as of early 2022, none of them seem to offer any incentives specifically for solar. We encourage you to ask your solar installation company if there are any solar manufacturer rebates available for you.|
|Federal Solar Tax Credit||The Solar Investment Tax Credit (ITC) is a tax incentive that allows solar adopters to claim 30% of their total solar equipment and installation costs as a tax credit on their next federal filing. The 30% credit is in effect for any solar project purchased through 2032.|
Solar panel availability will vary greatly based on the solar installer that you select. Some companies only offer a few based on their current inventories. In general, the following are the most common solar panel brands that you’ll encounter, as well as their relative pricing in Wyoming.
|Solar Panel Brand||Average Cost Per Watt ($-$$$$$)|
Ready to see how much solar panels would cost for your Wyoming home? To get a free, no-obligation quote based on your household’s energy needs, select one of our top providers below to connect with a verified installer.
Read More About Going Solar
At EcoWatch, we’re happy to get questions about the process and costs of getting rooftop solar from Wyoming residents. Below are some of the questions we see most often, along with our responses. If you have specific questions that aren’t answered here, reach out to our team of solar experts at email@example.com.
The typical cost of solar panels in Wyoming is $2.57 per watt. According to our market research, the average Wyoming resident needs a 9-kilowatt solar energy system to offset their energy costs, which would cost $23,130 on average, or $17,116 after claiming the 26% federal solar tax credit.
Yes, data from Zillow shows that adding solar boosts property value and that homes with solar panels tend to sell for 4.1% more than homes without. It’s important to remember that you can only take advantage of the increase of your Wyoming home’s value if you own your solar system and not if you have a solar lease.
We always encourage buying solar panels when feasible. You simply can’t enjoy all of the benefits of going solar if you lease your solar system, like the federal tax credit or being able to capitalize on your increased property value should you sell your home. If you cannot afford to cover the full cost, put as much down as you can and explore financing options.
Yes, solar panels can eliminate your energy bills in Wyoming because of the state’s net metering program. If your solar system generates more energy than what you need to power your home, you’ll not only reduce your energy bill, but you’ll receive credits from your utility company because of the statewide net metering program. Then you can use those credits to lower or eliminate your power bills during times when your solar panels aren’t as efficient.
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