Solar Panel Cost Guide in Hailey, ID (2024 Update)
- Hailey Solar Installation Cost: $17,426
- 25-Year Savings: $18,670
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Hailey
Let’s take a look at the average cost of solar in Hailey.
In Hailey, solar panels cost about 3 per watt on average.To account for the typical energy usage of the average home in Hailey, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,426, or $24,919 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hailey homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high initial cost, the average Hailey homeowner can save around $17,000 on their energy bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Hailey that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hailey
| Year | Return on Investment |
|---|---|
| 1 years | $-16,264 |
| 3 years | $-13,940 |
| 5 years | $-11,616 |
| 7 years | $-9,292 |
| 9 years | $-6,967 |
| 11 years | $-4,643 |
| 13 years | $-2,319 |
| 15 years | $5 |
| 17 years | $2,329 |
| 19 years | $4,653 |
| 21 years | $6,977 |
| 23 years | $9,301 |
| 25 years | $11,625 |
Top Solar Installers in Hailey
Although you can install solar panels yourself, it involves extra time and know-how. That's why most homeowners choose to go with a solar panel installer. Also, if you’d like to maximize your investment in solar power, using a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
If you’d like to start using solar energy but still aren’t certain which solar system installer to go with, here are our recommendations for providers near you:
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Hailey
Factors that Affect Solar Panel Costs in Hailey
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you choose also changes the cost. Typically, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you want to install 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
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Hailey, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also increases your overall costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Hailey is the company you hire to install your PV system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.60 | $15,113 | $11,376 | 14.3 years |
| 8 kW | $3.53 | $19,764 | $15,556 | 14.0 years |
| 10 kW | $3.46 | $24,220 | $19,929 | 13.7 years |
| 12 kW | $3.39 | $28,483 | $24,497 | 13.4 years |
| 14 kW | $3.32 | $32,552 | $29,258 | 13.2 years |
| 16 kW | $3.25 | $36,427 | $34,212 | 12.9 years |
| 18 kW | $3.18 | $40,108 | $39,361 | 12.6 years |
| 20 kW | $3.11 | $43,596 | $44,703 | 12.3 years |
How to Save on Solar Panels
There are numerous companies to choose from in Hailey, 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: If you’re concerned about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: The kind of solar panel you’d like to install plays a role in which installer you should go with, since different companies offer different panels.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
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 Hailey, ID Solar Cost FAQs
What is the average cost of installing solar panels in Hailey?
The average cost of solar panels in Hailey is about $17,300 for a 5-kW system and $34,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Hailey?
Solar panels aren’t free in Hailey, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.