Solar Panel Cost Guide in Watford City, ND (2024 Update)
- Watford City Solar Installation Cost: $43,996
- 25-Year Savings: $25,254
- Payback Period: 20.0 Years
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Average Cost of Solar Panels in Watford City
We go over average solar pricing in Watford City.
The national average cost of solar panels is $2.66 per watt, but in Watford City it’s 4 per watt.Using this figure, a typical 17.6-kW system would cost about $43,996 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more.Despite the large upfront cost, the average Watford City homeowner can save about $12,000 on their electricity bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a vetted solar installer in Watford City that can help you get a more accurate cost estimate for your home.
Solar savings over time in Watford City
| Year | Return on Investment |
|---|---|
| 1 years | $-42,710 |
| 3 years | $-40,139 |
| 5 years | $-37,568 |
| 7 years | $-34,997 |
| 9 years | $-32,426 |
| 11 years | $-29,854 |
| 13 years | $-27,283 |
| 15 years | $-24,712 |
| 17 years | $-22,141 |
| 19 years | $-19,570 |
| 21 years | $-16,999 |
| 23 years | $-14,428 |
| 25 years | $-11,857 |
Top Solar Installers in Watford City
Many homeowners opt for a solar installer since trying to install solar panels on your own can be a labor-intensive endeavor. Some solar installers, particularly local ones, can help you make the most of incentives in Watford City, optimizing your ROI.
If you're on the hunt for a solar company in Watford City, we've compiled 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
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 Watford City
Factors that Affect Solar Panel Costs in Watford City
For many Watford City homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Watford City, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,580.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Watford City average.
Solar Financing Terms
Many homeowners find the average cost of solar in Watford City to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Watford City is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Watford City know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $3.72 | $15,637 | $3,157 | 20.8 years |
| 8 kW | $3.65 | $20,449 | $4,611 | 20.4 years |
| 10 kW | $3.58 | $25,060 | $6,265 | 20.0 years |
| 12 kW | $3.51 | $29,471 | $8,119 | 19.6 years |
| 14 kW | $3.44 | $33,681 | $10,174 | 19.2 years |
| 16 kW | $3.37 | $37,690 | $12,429 | 18.8 years |
| 18 kW | $3.29 | $41,499 | $14,885 | 18.4 years |
| 20 kW | $3.22 | $45,108 | $17,541 | 18.0 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for a long time and save you money on repairs and maintenance.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 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 Watford City, ND Solar Cost FAQs
What is the average cost of installing solar panels in Watford City?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
The initial cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
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 Watford City is currently $297,735, so you can look forward to a value of about $12,207 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Watford City is a fruitful investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.