Solar Panel Cost Guide in Cody, WY (2024 Update)
- Cody Solar Installation Cost: $38,408
- 25-Year Savings: $48,505
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Cody
We go over average solar pricing in Cody.
While the national average of solar panels is $2.66 per watt, solar panels in Cody typically cost around 4.Since a 15.3-kW system is needed to cover the energy consumption of a typical home in Cody, the average price of going solar will be about $38,408 after claiming the federal solar tax credit of 0.
How much you pay can go above or below the average in Cody depending on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.Despite the high upfront cost, the average Cody homeowner can save around $19,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To get a free estimate from a highly rated solar company in Cody, you can click the button below.
Solar savings over time in Cody
| Year | Return on Investment |
|---|---|
| 1 years | $-37,128 |
| 3 years | $-34,568 |
| 5 years | $-32,008 |
| 7 years | $-29,448 |
| 9 years | $-26,888 |
| 11 years | $-24,328 |
| 13 years | $-21,768 |
| 15 years | $-19,208 |
| 17 years | $-16,648 |
| 19 years | $-14,088 |
| 21 years | $-11,528 |
| 23 years | $-8,968 |
| 25 years | $-6,408 |
Top Solar Installers in Cody
When making the switch to solar, many homeowners decide to go with a solar company since overseeing your solar installation yourself can be a challenging project. Also, if you’d like to maximize your investment in solar, using a solar installer can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives, rebates and net metering programs.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Cody
Factors that Affect Solar Panel Costs in Cody
The cost of installing a solar system in Cody can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest 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
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Cody provide solar loans, which reduce your upfront costs of installing a solar system.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $14,145 | 13.1 years |
| 8 kW | $3.65 | $20,449 | $19,261 | 12.9 years |
| 10 kW | $3.58 | $25,060 | $24,578 | 12.6 years |
| 12 kW | $3.51 | $29,471 | $30,095 | 12.4 years |
| 14 kW | $3.44 | $33,681 | $35,812 | 12.1 years |
| 16 kW | $3.37 | $37,690 | $41,730 | 11.9 years |
| 18 kW | $3.29 | $41,499 | $47,849 | 11.6 years |
| 20 kW | $3.22 | $45,108 | $54,168 | 11.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s crucial to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Cody, WY Solar Cost FAQs
How much does it cost to install solar panels in Cody?
The average cost of solar panels in Cody is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Cody?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go 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 $992.76 per year.
How often do you have to replace solar panels?
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 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.