Solar Panel Cost Guide in Cody, WY (2024 Update)
- Cody Solar Installation Cost: $38,408
- 25-Year Savings: $48,505
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Cody
We go over average solar pricing in Cody.
While the national average of solar panels is $2.66 per watt, solar panels in Cody typically cost about 4.Using this figure, a typical 15.3-kW system would cost about $38,408 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Cody homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on energy bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Cody
| Year | Return on Investment |
|---|---|
| 1 years | $-37,128 |
| 3 years | $-34,568 |
| 5 years | $-32,008 |
| 7 years | $-29,448 |
| 9 years | $-26,888 |
| 11 years | $-24,328 |
| 13 years | $-21,768 |
| 15 years | $-19,208 |
| 17 years | $-16,648 |
| 19 years | $-14,088 |
| 21 years | $-11,528 |
| 23 years | $-8,968 |
| 25 years | $-6,408 |
Top Solar Installers in Cody
Many homeowners decide to use a solar panel company since trying to put up solar panels yourself can be challenging. Another perk of going with a solar installer is that they can help you make the most of your ROI by reducing your future costs of repairs and replacements with the help of 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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
See all of the solar companies in Cody
Factors that Affect Solar Panel Costs in Cody
Even though the average cost of a solar system in Cody is $38,408, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Cody homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your overall costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Cody is the company you choose to install your PV system. Similar to choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $14,145 | 13.1 years |
| 8 kW | $3.65 | $20,449 | $19,261 | 12.9 years |
| 10 kW | $3.58 | $25,060 | $24,578 | 12.6 years |
| 12 kW | $3.51 | $29,471 | $30,095 | 12.4 years |
| 14 kW | $3.44 | $33,681 | $35,812 | 12.1 years |
| 16 kW | $3.37 | $37,690 | $41,730 | 11.9 years |
| 18 kW | $3.29 | $41,499 | $47,849 | 11.6 years |
| 20 kW | $3.22 | $45,108 | $54,168 | 11.4 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Cody, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: The type of solar panel you’d like to get plays a part in which installer you should opt for, since different companies have access to different panels.
- Contract: Look through the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
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
Outstanding Local Installer
ES Solar
- Representatives are experts on local policies
- Lifetime workmanship warranty
- Outstanding customer service
- No leases or PPAs
- Energy audits only available 12 months after installation
Solar Veteran
Creative Energies
- Certified B Corp
- Outstanding customer service
- Many years of experience
- Multitude of products and services
- No leases or PPAs
- Slightly expensive
EcoWatch's Cody, WY Solar Cost FAQs
How much does it cost to install solar panels in Cody?
The average cost of solar panels in Cody 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Cody?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The downside 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 option if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $992.76 per year.
How long do solar panels last in Cody?
Even 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 the amount of energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.