Solar Panel Cost Guide in Powell, WY (2023 Update)
- Powell Solar Installation Cost: $27,572
- 25-Year Savings: $53,882
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Powell
Find out what the average cost of solar panels are in Powell.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Powell, the average cost of a solar system is 2.57 per watt. The average Powell homeowner needs a 15.3-kilowatt system, which would cost about $27,579 with the federal tax credit, or $39,438 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what solar installer you go with. Even with the significant initial cost, the average Powell homeowner can save around $20,000 on their electricity bills over 20 years, which is one of the positives of solar.
Click the button below to get connected to a highly rated solar panel company in Powell for a custom estimate.
Solar savings over time in Powell
| Year | Return on Investment |
|---|---|
| 1 years | $-27,300 |
| 3 years | $-26,757 |
| 5 years | $-26,214 |
| 7 years | $-25,671 |
| 9 years | $-25,128 |
| 11 years | $-24,585 |
| 13 years | $-24,042 |
| 15 years | $-23,499 |
| 17 years | $-22,956 |
| 19 years | $-22,413 |
| 21 years | $-21,870 |
| 23 years | $-21,327 |
| 25 years | $-20,784 |
Top Solar Installers in Powell
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using a solar company can make converting to solar power much easier. Companies can also offer access to various kinds of the best solar panels and help you pick which one will be right for your family.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Powell
Factors that Affect Solar Panel Costs in Powell
For many Powell homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Powell, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you'll pay, which we'll go over below.
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 $2,570 per kilowatt in Powell. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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
Many homeowners find the average cost of solar in Powell to be too steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's vital to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Powell, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment. The size of the company can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have greater 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 discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.67 | $11,226 | $20,662 | 8.8 years |
| 8 kW | $2.62 | $14,680 | $27,837 | 8.6 years |
| 10 kW | $2.57 | $17,990 | $35,156 | 8.5 years |
| 12 kW | $2.52 | $21,156 | $42,619 | 8.3 years |
| 14 kW | $2.47 | $24,179 | $50,226 | 8.1 years |
| 16 kW | $2.42 | $27,057 | $57,977 | 8.0 years |
| 18 kW | $2.36 | $29,791 | $65,871 | 7.8 years |
| 20 kW | $2.31 | $32,382 | $73,910 | 7.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
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 Powell, WY Solar Cost FAQs
What is the average cost of installing solar panels in Powell?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $12,850 for a 5-kW system and $25,700 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Powell?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Powell?
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.
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.