Solar Panel Cost Guide in Canton, SD (2024 Update)
- Canton Solar Installation Cost: $22,128
- 25-Year Savings: $19,720
- Payback Period: 16.0 Years
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Average Cost of Solar Panels in Canton
Let’s take a look at the average cost of solar panels in Canton.
The national average cost of solar panels is $2.66 per watt, but in Canton it’s 4 per watt.To cover the typical energy needs of the average home in Canton, most homeowners require a 8.8-kilowatt system. Using the figure above, a solar installation costs around $22,128, or $31,643 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Many homeowners find going solar is a rewarding investment. The average homeowner in Canton can save around $15,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Canton
| Year | Return on Investment |
|---|---|
| 1 years | $-21,138 |
| 3 years | $-19,160 |
| 5 years | $-17,182 |
| 7 years | $-15,204 |
| 9 years | $-13,226 |
| 11 years | $-11,248 |
| 13 years | $-9,270 |
| 15 years | $-7,292 |
| 17 years | $-5,314 |
| 19 years | $-3,336 |
| 21 years | $-1,357 |
| 23 years | $621 |
| 25 years | $2,599 |
Top Solar Installers in Canton
Trying to put up solar panels by yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. The payback period of solar panels will vary based on factors like your location and energy use, but working with a solar company can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 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 Canton
Factors that Affect Solar Panel Costs in Canton
There are several criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important 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 spend around $3,580 per kilowatt in Canton.The kind of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Canton provide solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The remaining key cost factor you should consider is the installer you choose. Given the booming popularity of renewable energy solutions in Canton, you’ll have a great number of options to choose from, but each comes at various price points for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $7,801 | 16.7 years |
| 8 kW | $3.65 | $20,449 | $10,802 | 16.4 years |
| 10 kW | $3.58 | $25,060 | $14,004 | 16.0 years |
| 12 kW | $3.51 | $29,471 | $17,406 | 15.7 years |
| 14 kW | $3.44 | $33,681 | $21,008 | 15.4 years |
| 16 kW | $3.37 | $37,690 | $24,811 | 15.1 years |
| 18 kW | $3.29 | $41,499 | $28,815 | 14.8 years |
| 20 kW | $3.22 | $45,108 | $33,019 | 14.4 years |
How to Save on Solar Panels
There are many companies to choose from in Canton, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:
- 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 big role in the company you opt for.
- Installation Process: One of the most important things 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 what the project timeline is.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Canton, SD Solar Cost FAQs
How much does it cost to install solar panels in Canton?
The average cost of solar panels in Canton is about $17,900 for a 5-kW system and $35,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Canton?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to 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 bang for your buck from going solar.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Canton?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.