Solar Panel Cost Guide in Wyoming, MI (2024 Update)
- Wyoming Solar Installation Cost: $17,551
- 25-Year Savings: $22,837
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Wyoming
We break down average solar pricing in Wyoming.
In Wyoming, solar panels cost about 4 per watt on average.The average solar panel system size in Wyoming is around 6.2 kilowatts, meaning a cost of about $17,551 for a solar installation, or $25,098 before the 0 federal solar tax credit is applied.
These figures are only estimates, and your own solar costs will most likely differ based on your specific situation and what company you choose to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in Wyoming that can help you get a more accurate cost estimate for your home.
Solar savings over time in Wyoming
| Year | Return on Investment |
|---|---|
| 1 years | $-16,297 |
| 3 years | $-13,790 |
| 5 years | $-11,282 |
| 7 years | $-8,775 |
| 9 years | $-6,268 |
| 11 years | $-3,760 |
| 13 years | $-1,253 |
| 15 years | $1,255 |
| 17 years | $3,762 |
| 19 years | $6,269 |
| 21 years | $8,777 |
| 23 years | $11,284 |
| 25 years | $13,792 |
Top Solar Installers in Wyoming
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of a solar company can make swapping over to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for you.
If you're searching for a solar company in Wyoming, the EcoWatch team has organized 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
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
See all of the solar companies in Wyoming
Factors that Affect Solar Panel Costs in Wyoming
Although the average cost of a solar system in Wyoming is $17,551, your final cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. The brand and type 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Wyoming have solar loans, which reduce the initial cost of installing solar.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $16,256 | 13.0 years |
| 8 kW | $4.14 | $23,191 | $22,129 | 12.8 years |
| 10 kW | $4.06 | $28,420 | $28,230 | 12.5 years |
| 12 kW | $3.98 | $33,422 | $34,558 | 12.3 years |
| 14 kW | $3.90 | $38,196 | $41,113 | 12.0 years |
| 16 kW | $3.82 | $42,744 | $47,896 | 11.8 years |
| 18 kW | $3.74 | $47,064 | $54,906 | 11.5 years |
| 20 kW | $3.65 | $51,156 | $62,143 | 11.3 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel installer. Make sure 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
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
EcoWatch's Wyoming, MI Solar Cost FAQs
How much does it cost to install solar panels in Wyoming?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient 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 Wyoming?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase the value of your home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wyoming is currently $249,131, which means you can expect a value of about $10,214 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Wyoming is a worthwhile investment.
How often do you have to replace solar panels?
Even though 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 their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use 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.