Solar Panel Cost Guide in Sioux Falls, SD (2024 Update)
- Sioux Falls Solar Installation Cost: $22,136
- 25-Year Savings: $24,151
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in Sioux Falls
Find out what the average cost of installing solar panels is in Sioux Falls.
The average cost of a solar panel system in Sioux Falls is 4 per watt.Using this figure, a typical 8.8-kW system would cost about $22,136 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of equipment you choose, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Sioux Falls see about $17,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar installer in Sioux Falls for a customized quote.
Solar savings over time in Sioux Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-20,682 |
| 3 years | $-17,772 |
| 5 years | $-14,863 |
| 7 years | $-11,954 |
| 9 years | $-9,045 |
| 11 years | $-6,136 |
| 13 years | $-3,227 |
| 15 years | $-317 |
| 17 years | $2,592 |
| 19 years | $5,501 |
| 21 years | $8,410 |
| 23 years | $11,319 |
| 25 years | $14,229 |
Top Solar Installers in Sioux Falls
Installing solar panels yourself can be a dangerous undertaking, which is why getting a solar installation company is a good option for many homeowners. Another great thing about choosing a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Sioux Falls:
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 Sioux Falls
Factors that Affect Solar Panel Costs in Sioux Falls
Even though the average cost of a solar system in Sioux Falls is $22,136, your final cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use 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.There are several different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Though solar loans make switching to solar energy more accessible for Sioux Falls homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $10,805 | 14.8 years |
| 8 kW | $3.65 | $20,449 | $14,808 | 14.5 years |
| 10 kW | $3.58 | $25,060 | $19,011 | 14.2 years |
| 12 kW | $3.51 | $29,471 | $23,414 | 13.9 years |
| 14 kW | $3.44 | $33,681 | $28,019 | 13.6 years |
| 16 kW | $3.37 | $37,690 | $32,823 | 13.4 years |
| 18 kW | $3.29 | $41,499 | $37,828 | 13.1 years |
| 20 kW | $3.22 | $45,108 | $43,034 | 12.8 years |
How to Save on Solar Panels
There are a lot of companies available in Sioux Falls, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
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 Sioux Falls, SD Solar Cost FAQs
How much does it cost to install solar panels in Sioux Falls?
This is a hard question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact my property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.