Solar Panel Cost Guide in Wyoming, MN (2024 Update)
- Wyoming Solar Installation Cost: $20,377
- 25-Year Savings: $22,892
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Wyoming
Find out how much it might cost to switch to solar power in Wyoming.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Wyoming, the average cost of solar panels is 4 per watt.Since a 7.2-kW system is needed to cover the energy consumption of a typical home in Wyoming, the average price of going solar will be about $20,377 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of going solar can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with.Despite the significant initial cost, the average Wyoming homeowner can save about $20,000 on their power bills over 20 years, which is one of the positives of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Wyoming
| Year | Return on Investment |
|---|---|
| 1 years | $-19,098 |
| 3 years | $-16,539 |
| 5 years | $-13,980 |
| 7 years | $-11,421 |
| 9 years | $-8,862 |
| 11 years | $-6,304 |
| 13 years | $-3,745 |
| 15 years | $-1,186 |
| 17 years | $1,373 |
| 19 years | $3,932 |
| 21 years | $6,491 |
| 23 years | $9,050 |
| 25 years | $11,609 |
Top Solar Installers in Wyoming
Although you can install solar panels on your own, it requires extra energy and knowledge. For that reason, almost all homeowners choose a solar panel installer. Another perk of working with a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- 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 Wyoming
Factors that Affect Solar Panel Costs in Wyoming
There are a number of factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, 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 around $4,030. The brand of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer 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 in Wyoming, and each can charge different amounts for labor and equipment.Additionally, some companies in Wyoming are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, 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 | $4.19 | $17,603 | $13,339 | 14.2 years |
| 8 kW | $4.11 | $23,019 | $18,237 | 13.9 years |
| 10 kW | $4.03 | $28,210 | $23,361 | 13.7 years |
| 12 kW | $3.95 | $33,175 | $28,710 | 13.4 years |
| 14 kW | $3.87 | $37,914 | $34,285 | 13.1 years |
| 16 kW | $3.79 | $42,428 | $40,085 | 12.9 years |
| 18 kW | $3.71 | $46,716 | $46,112 | 12.6 years |
| 20 kW | $3.63 | $50,778 | $52,364 | 12.3 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 durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- 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 Wyoming, MN Solar Cost FAQs
How much does it cost to install solar panels in Wyoming?
This is a difficult question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Wyoming?
You can’t get solar panels for free in Wyoming. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Wyoming have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
On average, solar panels can last 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 larger level 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.