Solar Panel Cost Guide in Laramie, WY (2024 Update)

  • Laramie Solar Installation Cost: $37,446
  • 25-Year Savings: $58,150
  • Payback Period: 11.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Laramie

Let’s have a look at the average cost of solar in Laramie.

The national average cost of solar panels is $2.66 per watt, but in Laramie it’s 4 per watt.Because a 14.9-kW system is needed to cover the energy usage of a typical home in Laramie, the average price of going solar will be about $37,446 after claiming the federal solar tax credit of 0.

Keep in mind that the figures above are only estimates based on the average energy use of Laramie homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $22,000 over 20 years on utility bills.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Laramie

Year Return on Investment
1 years $-36,102
3 years $-33,414
5 years $-30,726
7 years $-28,038
9 years $-25,350
11 years $-22,662
13 years $-19,974
15 years $-17,286
17 years $-14,598
19 years $-11,910
21 years $-9,222
23 years $-6,534
25 years $-3,846

Top Solar Installers in Laramie

When going solar, many homeowners prefer to use a solar installation company since overseeing your solar installation yourself can be a time-consuming project. Companies can also have access to various kinds of the best solar panels and help you choose which one will be best for your home.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Creative Energies

★★★★★
4.5

  • Certified B Corp
  • Outstanding customer service
  • Many years of experience
  • Multitude of products and services
  • No leases or PPAs
  • Slightly expensive

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

See all of the solar companies in Laramie

Factors that Affect Solar Panel Costs in Laramie

Although the average cost of a solar system in Laramie is $37,446, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,580.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Laramie average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Laramie, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.

Solar Panel Installation Company

The solar panel installer you choose will influence your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.

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 $18,505 11.4 years
8 kW $3.65 $20,449 $25,075 11.2 years
10 kW $3.58 $25,060 $31,845 11.0 years
12 kW $3.51 $29,471 $38,815 10.8 years
14 kW $3.44 $33,681 $45,986 10.6 years
16 kW $3.37 $37,690 $53,357 10.3 years
18 kW $3.29 $41,499 $60,929 10.1 years
20 kW $3.22 $45,108 $68,702 9.9 years

How to Save on Solar Panels

Since the brand of solar panels and the company you choose considerably impacts your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
  • Warranty: Warranties that cover defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
  • Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand what services your solar company will provide and the terms of the warranty.
  • Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Creative Energies

★★★★★
4.5

  • Certified B Corp
  • Outstanding customer service
  • Many years of experience
  • Multitude of products and services
  • No leases or PPAs
  • Slightly expensive

Outstanding Local Installer

ES Solar

★★★★★
4.5

  • Representatives are experts on local policies
  • Lifetime workmanship warranty
  • Outstanding customer service
  • No leases or PPAs
  • Energy audits only available 12 months after installation

EcoWatch's Laramie, WY Solar Cost FAQs

How much does it cost to install solar panels in Laramie?

The average cost of solar panels in Laramie 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 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 Laramie?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.

How will solar panels impact my home value?

Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."

How long do solar panels last in Laramie?

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 higher 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.

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.

Follow us