Solar Panel Cost In 2023 (Homeowner’s Installation Savings Guide)
By Karsten Neumeister /
Here’s what we’ll cover in this guide to Wyoming solar panels:
The first step to putting a solar system in place is to contact a local installer. You can request a free quote, which should include a review of your electric bills and a property inspection. Next, you’ll choose a financing option. You can pay with cash, a solar loan, a solar lease, or a power purchase agreement (PPA).
Once payment is made, your installer will share the system design with you to get your approval. Permits will be pulled, and after a waiting period for approval from your local jurisdiction, your system will be installed.
Converting to solar energy is highly beneficial for most WY residents. This clean energy solution will make your home more environmentally friendly, and it will also end up saving you on energy bills. The average system in WY pays for itself and then can save money for years to come — usually around $15,000 more.
Regional Service
Average cost
Pros
Cons
Regional Service
Average cost
Pros
Cons
Regional Service
Average cost
Pros
Cons
Solar equipment can vary a lot in price based on a bunch of factors, but the average cost per watt in WY is $2.57. The local system requirements usually sit at around 9 kilowatts (kW), which puts the total installation cost at $23,130. This can come down to around $16,000 if you take the federal solar investment tax credit (ITC).
Most solar energy systems in the U.S. pay for themselves in around 12 years. This is called the panel payback period, and it’s a good measurement of how valuable solar is in an area. The average payback period in WY is 13 years, which is just above the national average.
For more information on pricing and value metrics, you can read through our comprehensive guide to the cost of solar panels in WY.
The Solar Energy Industries Association (SEIA) reports that WY ranks 42nd in the nation for solar installations.1 Despite the low ranking, the solar industry within the state is still strong. WY residents will have a variety of choices when it comes to installers and equipment brands.
Wyoming receives plenty of sunshine, so high-efficiency brands usually aren’t mandatory. Some areas of the state see intense thunderstorms and tornado activity, which means warranty coverage is often prioritized.2
Below are some of the most popular panel brands installed in WY. These all come with excellent protection plans.
Although the solar adoption rate in WY has been quite slow, there are several factors at play in the state that makes it a great option for solar conversion. We’ll discuss these below.
Energy generation estimates are an important thing to consider for your solar power system. If you know how much energy your system produces, you can effectively size your solar array to be the most cost-effective. Unfortunately, it’s difficult to get an accurate estimate without a professional inspecting your property.
Below, we’ll discuss some of the factors that can swing your production level up or down.
The chart below provides some average numbers based on common system sizes in WY. This should give you a rough idea of what to expect from your panels.
Solar Power System Size | Expected Daily Energy Produced | Expected Monthly Energy Produced | Expected Annual Energy Produced |
6 kW | 20 kWh | 600 kWh | 7,200 kWh |
7 kW | 23.3 kWh | 700 kWh | 8,400 kWh |
8 kW | 26.6 kWh | 800 kWh | 9,600 kWh |
9 kW | 30 kWh | 900 kWh | 10,800 kWh |
10 kW | 33.3 kWh | 1,000 kWh | 12,000 kWh |
11 kW | 36.6 kWh | 1,100 kWh | 13,200 kWh |
12 kW | 40 kWh | 1,200 kWh | 14,400 kWh |
For a more accurate estimate, you can use our solar calculator. This tool combines local weather data with satellite imaging of your home to determine shading on your roof, sunlight availability, and more. This lets you see how much energy panels on your specific roof will produce.
One of the reasons solar adoption has been so slow in WY is the lack of pro-solar legislation and statewide policies.
The only piece of legislation that was passed in WY that made a difference for all Wyoming solar customers was in 2001 when net metering was mandated statewide.
The Public Service Commission (PSC) required that all investor-owned utilities (IOUs) offer net excess generation (NEG) credits to customers who produced more electricity with their panels than they consumed. Those credits could then be used to pay down future utility bills. This was required for systems up to 25 kW.
The PSC also mandated that utility companies buy back unused credits at the beginning of each billing year. It also prohibited utilities from charging fees to customers for access to NEG metering.
Unfortunately, there was no specific rate structure imposed by the PUC for energy credits, so most electric companies offer energy credits at the avoided-cost rate, which is less beneficial than the retail rate. Still, this policy helped solidify the value of solar in WY.
Also in the 2000s, several utility providers began offering local incentives for energy efficiency upgrades. While not specifically for solar, these perks also helped push The Equality State toward renewable energy and environmental friendliness.
The utility companies offering these benefit programs include Black Hills Energy, Carbon Power & Light, Rocky Mountain Power, Questar Gas, and Lower Valley Energy.
WY currently does not have a Renewable Portfolio Standard (RPS) goal, which means the state isn’t actively pushing clean energy.5
Once an RPS goal is set and renewable energy sources are prioritized, it’s likely that more pro-solar legislation will be adopted. These could include up-front savings as well as sales tax and property tax exemptions and a possible state tax credit.
Currently, the lack of solar policy in WY has also led to a lack of solar incentives for customers. We’ll discuss the perks that are available below.
For more information on these incentives or to see what other local rebates and perks are available to you, you can read our complete guide to Wyoming solar incentives.
Choosing an installer for your solar project is a big deal. Your warranty coverage, panel efficiency, and system cost all depend heavily on the provider you pick. It’s wise to put some time and effort into researching different local installers to ensure you choose the best one for your home.
Below, we’ll include links to our reviews of some of the top solar installation companies in the larger cities in WY.
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For company recommendations outside of these cities — including in Cheyenne, Gillette, and others — or for a look at regional and national providers as well, you can take a look at our guide to choosing a solar company in Wyoming.
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