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

  • Sheridan Solar Installation Cost: $39,087
  • 25-Year Savings: $-11,568
  • Payback Period: 13.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 20, 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 Sheridan

Find out what the average cost of solar panels are in Sheridan.

In Sheridan, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Sheridan, most homeowners require a 15.6-kilowatt system. Using the figure above, a solar installation costs around $39,087, or $55,894 before the federal solar tax credit of 0 is applied.

How much you pay can go higher or lower than the average in Sheridan based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Sheridan can save about $18,000 on their energy bills over 20 years.

To see your potential ROI and connect with a local solar company, click the button below.

Solar savings over time in Sheridan

YearReturn on Investment
1 years$-37,987
3 years$-35,785
5 years$-33,584
7 years$-31,382
9 years$-29,180
11 years$-26,979
13 years$-24,777
15 years$-22,576
17 years$-20,374
19 years$-18,172
21 years$-15,971
23 years$-13,769
25 years$-11,568

Top Solar Installers in Sheridan

Although it's possible to install solar panels yourself, it requires extra energy and knowledge. Because of that, most homeowners choose to go with a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.

If you’d like to make the switch to solar but still aren’t certain which solar company to go with, here are our suggestions for providers in Sheridan:

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

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

Best Technology

Tesla Energy

★★★★★
3.2
  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

See all of the solar companies in Sheridan

Factors that Affect Solar Panel Costs in Sheridan

For many Sheridan homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Sheridan, with typical prices between $20,000 to $40,000. There are several factors that considerably 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 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 around $3,580 per kilowatt in Sheridan.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, extra products, such as solar batteries, can bring your total well above the Sheridan average.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Sheridan, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.Although solar loans make adopting solar energy more accessible for Sheridan homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The last major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Sheridan, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that provides the products, warranties and services you’re looking for and also fit into your budget.

Solar Panel Cost Data by System Size

System sizeCost per system wattSolar system cost25-Year savingsPayback period
6 kW$3.72$15,637$12,98713.7 years
8 kW$3.65$20,449$17,71713.4 years
10 kW$3.58$25,060$22,64813.1 years
12 kW$3.51$29,471$27,77912.9 years
14 kW$3.44$33,681$33,11112.6 years
16 kW$3.37$37,690$38,64312.3 years
18 kW$3.29$41,499$44,37512.1 years
20 kW$3.22$45,108$50,30811.8 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:

  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
  • Warranty: A comprehensive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
  • Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project timeline.

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

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

Best Technology

Tesla Energy

★★★★★
3.2
  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Sheridan, WY Solar Cost FAQs

What is the average cost of installing solar panels in Sheridan?

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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.

Is it better to lease or buy solar panels in Sheridan?

Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of 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.

Is it worth going solar in Sheridan?

Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.

How often do you have to replace solar panels?

Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.

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.