Solar Panel Cost Guide in Lincoln, NE (2024 Update)
- Lincoln Solar Installation Cost: $23,442
- 25-Year Savings: $17,763
- Payback Period: 16.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lincoln
Find out what the average cost of solar panels are in Lincoln.
The national average cost of solar panels is $2.66 per watt, but in Lincoln it’s 4 per watt.Using this figure, a typical 9.4-kW system would cost about $23,442 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Lincoln homeowner. The cost 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.With average savings of about $15,000 on energy bills over 20 years, many homeowners in Lincoln find investing in solar can pay off big.
You can click the button below to get connected with a pre-vetted solar installer in Lincoln that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lincoln
| Year | Return on Investment |
|---|---|
| 1 years | $-22,290 |
| 3 years | $-19,986 |
| 5 years | $-17,682 |
| 7 years | $-15,378 |
| 9 years | $-13,074 |
| 11 years | $-10,770 |
| 13 years | $-8,466 |
| 15 years | $-6,162 |
| 17 years | $-3,858 |
| 19 years | $-1,553 |
| 21 years | $751 |
| 23 years | $3,055 |
| 25 years | $5,359 |
Top Solar Installers in Lincoln
When making the switch to solar, many homeowners prefer to hire a solar installer since installing a solar system yourself can be a difficult project. Another great thing about choosing a reliable solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
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 Lincoln
Factors that Affect Solar Panel Costs in Lincoln
The cost of installing a solar system in Lincoln can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $3,580. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lincoln to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installation company you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lincoln have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $7,642 | 16.8 years |
| 8 kW | $3.65 | $20,449 | $10,590 | 16.5 years |
| 10 kW | $3.58 | $25,060 | $13,739 | 16.1 years |
| 12 kW | $3.51 | $29,471 | $17,088 | 15.8 years |
| 14 kW | $3.44 | $33,681 | $20,637 | 15.5 years |
| 16 kW | $3.37 | $37,690 | $24,387 | 15.2 years |
| 18 kW | $3.29 | $41,499 | $28,338 | 14.9 years |
| 20 kW | $3.22 | $45,108 | $32,489 | 14.5 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: The kind of solar panel you want plays a part in which installer you should go with, since different companies have different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Lincoln, NE Solar Cost FAQs
How much does it cost to install solar panels in Lincoln?
The average cost of solar panels in Lincoln 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 such as the type 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 Lincoln?
Leasing solar panels can be an appealing choice, because it usually 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.
Is it worth going solar in Lincoln?
Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Lincoln?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.