Solar Panel Cost Guide in Sheridan, WY (Jan 2023)
- Sheridan Solar Installation Cost: $28,064
- 25-Year Savings: $46,349
- Payback Period: 9.4 Years
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Top Solar Installers in Sheridan
Many homeowners opt for a solar installation company since installing solar panels yourself can be challenging. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what type of solar equipment you need.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Sheridan
Factors that Affect Solar Panel Costs in Sheridan
There are many factors that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
When it comes to estimating the price of a solar panel system in Sheridan, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by around $2,570 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will significantly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to consider 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's in your budget.
Solar Financing Terms
Most solar installers in Sheridan provide solar loans, which reduce your upfront costs of installing a solar system. However, the interest on solar loans also increases your all-in costs, so it's important to consider that 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 solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Sheridan, and each can charge different amounts for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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||$2.67||$11,226||$17,399||9.8 years|
|8 kW||$2.62||$14,680||$23,487||9.6 years|
|10 kW||$2.57||$17,990||$29,718||9.4 years|
|12 kW||$2.52||$21,156||$36,093||9.2 years|
|14 kW||$2.47||$24,179||$42,613||9.1 years|
|16 kW||$2.42||$27,057||$49,276||8.9 years|
|18 kW||$2.36||$29,791||$56,083||8.7 years|
|20 kW||$2.31||$32,382||$63,034||8.5 years|
How to Save on Solar Panels
There are a large number of companies to choose from in Sheridan, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: It's important to look over 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 project timeline.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
EcoWatch's Sheridan, WY Solar Cost FAQs
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.