Solar Panel Cost Guide in Riverton, WY (2024 Update)
- Riverton Solar Installation Cost: $36,610
- 25-Year Savings: $49,990
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Riverton
Let’s take a look at the average cost of solar in Riverton.
In Riverton, solar panels cost about 4 per watt on average.Using this figure, a typical 14.6-kW system would cost about $36,610 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Riverton homeowner. 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.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $20,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Riverton that can help you get a more accurate cost estimate for your home.
Solar savings over time in Riverton
| Year | Return on Investment |
|---|---|
| 1 years | $-35,488 |
| 3 years | $-33,243 |
| 5 years | $-30,998 |
| 7 years | $-28,753 |
| 9 years | $-26,508 |
| 11 years | $-24,263 |
| 13 years | $-22,018 |
| 15 years | $-19,773 |
| 17 years | $-17,528 |
| 19 years | $-15,283 |
| 21 years | $-13,038 |
| 23 years | $-10,793 |
| 25 years | $-8,548 |
Top Solar Installers in Riverton
Putting up solar panels on your own can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. The expertise that solar installers offer can be valuable as well, especially if you aren’t sure what type of solar equipment you need.
If you're looking for a solar company in Riverton, the EcoWatch team has put together a list of our top suggestions here:
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 Riverton
Factors that Affect Solar Panel Costs in Riverton
Though the average cost of a solar system in Riverton is $36,610, your actual cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,580 per kilowatt in Riverton.The model of solar panels and equipment you want is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Riverton homeowners opt to finance their solar panel systems to make going solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s vital to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Riverton, and each can charge varying amounts for labor and equipment.Additionally, some companies in Riverton have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $15,687 | 12.5 years |
| 8 kW | $3.65 | $20,449 | $21,318 | 12.2 years |
| 10 kW | $3.58 | $25,060 | $27,148 | 12.0 years |
| 12 kW | $3.51 | $29,471 | $33,179 | 11.8 years |
| 14 kW | $3.44 | $33,681 | $39,411 | 11.5 years |
| 16 kW | $3.37 | $37,690 | $45,843 | 11.3 years |
| 18 kW | $3.29 | $41,499 | $52,475 | 11.0 years |
| 20 kW | $3.22 | $45,108 | $59,308 | 10.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose greatly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: It’s important to read through your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process works and the completion timeline.
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 Riverton, WY Solar Cost FAQs
What is the average cost of installing solar panels in Riverton?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Riverton?
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 home 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.
Does Riverton have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.