Solar Panel Cost Guide in Powell, WY (2024 Update)
- Powell Solar Installation Cost: $38,408
- 25-Year Savings: $53,882
- Payback Period: 11.8 Years
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Average Cost of Solar Panels in Powell
We go over average solar pricing in Powell.
The national average cost of solar panels is $2.66 per watt, but in Powell it’s 4 per watt.Using this figure, a typical 15.3-kW system would cost about $38,408 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you will differ based on factors unique to your home and what company you go with.For many homeowners, the upfront cost of solar panels is worth paying. On average Powell homeowners see about $20,000 in savings on utility bills over 20 years.
To receive a free estimate from a vetted solar installation company in Powell, you can click the button below.
Solar savings over time in Powell
| 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 Powell
When switching to solar energy, many homeowners decide to use a solar company since putting up a solar system yourself can be a time-consuming project. Another great thing about going with a reputable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you’d like to switch to solar energy but still aren’t sure which solar installer to go with, here are our recommendations for providers nearby:
See all of the solar companies in Powell
Factors that Affect Solar Panel Costs in Powell
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Powell: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Powell offer solar loans, which reduce the initial cost of installing a solar system.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact how much you pay. Powell’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more 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 down 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 | $3.72 | $15,637 | $16,250 | 12.3 years |
| 8 kW | $3.65 | $20,449 | $22,068 | 12.0 years |
| 10 kW | $3.58 | $25,060 | $28,086 | 11.8 years |
| 12 kW | $3.51 | $29,471 | $34,305 | 11.6 years |
| 14 kW | $3.44 | $33,681 | $40,724 | 11.3 years |
| 16 kW | $3.37 | $37,690 | $47,343 | 11.1 years |
| 18 kW | $3.29 | $41,499 | $54,163 | 10.8 years |
| 20 kW | $3.22 | $45,108 | $61,184 | 10.6 years |
How to Save on Solar Panels
There are many 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: Make sure you’re on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you go with.
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 exactly, because the cost depends on many factors. Generally speaking, it costs about $17,900 for a 5-kW system and $35,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Powell?
Leasing solar panels can be an option if you can’t 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 bang for your buck from going solar.
Is switching to solar power worth it?
Solar panels can be a fruitful investment for most 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?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.