Solar Panel Cost Guide in Tea, SD (2024 Update)
- Tea Solar Installation Cost: $22,128
- 25-Year Savings: $23,673
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Tea
We break down average solar pricing in Tea.
The national average cost of solar panels is $2.66 per watt, but in Tea it’s 4 per watt.The average Tea homeowner needs a 8.8-kilowatt system, which would cost about $22,128 with the federal tax credit, or $31,643 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary depending on several factors, such as what size system you need, your energy consumption and what installation company you go with.For most homeowners, the upfront investment in solar power is worth paying. On average Tea homeowners see about $17,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Tea for a quote for your home.
Solar savings over time in Tea
| Year | Return on Investment |
|---|---|
| 1 years | $-20,669 |
| 3 years | $-17,752 |
| 5 years | $-14,835 |
| 7 years | $-11,918 |
| 9 years | $-9,001 |
| 11 years | $-6,084 |
| 13 years | $-3,167 |
| 15 years | $-250 |
| 17 years | $2,667 |
| 19 years | $5,584 |
| 21 years | $8,501 |
| 23 years | $11,418 |
| 25 years | $14,335 |
Top Solar Installers in Tea
Many homeowners opt for a solar installer since installing solar panels by yourself can be hard. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a licensed solar company 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 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 Tea
Factors that Affect Solar Panel Costs in Tea
The cost of installing a solar system in Tea can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise 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. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Tea homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you can only 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 considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect how much it costs. Tea’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers the products, warranties and services you want and also is within your budget.
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 | $10,487 | 15.0 years |
| 8 kW | $3.65 | $20,449 | $14,383 | 14.7 years |
| 10 kW | $3.58 | $25,060 | $18,480 | 14.4 years |
| 12 kW | $3.51 | $29,471 | $22,778 | 14.1 years |
| 14 kW | $3.44 | $33,681 | $27,276 | 13.8 years |
| 16 kW | $3.37 | $37,690 | $31,974 | 13.5 years |
| 18 kW | $3.29 | $41,499 | $36,873 | 13.2 years |
| 20 kW | $3.22 | $45,108 | $41,973 | 13.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable 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 clarify any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar system 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 EcoWatch.
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 Tea, SD Solar Cost FAQs
How much does it cost to install solar panels in Tea?
This is a hard question to answer precisely, because the cost depends on many factors. Generally 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 cost more if you want additional 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 expensive solar panels.
Should I lease or buy solar panels in Tea?
Leasing solar panels can be an appealing choice, because it usually 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Do solar panels increase your property value?
Solar panels can increase your home value remarkably 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% with a solar installation."
How long do solar panels last in Tea?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely 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.