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Solar Panels in Wyoming: Cost, Savings, and Rebates

Solar panels on the background of the image of the flag of State of Wyoming

Solar Panels in Wyoming: Cost, Savings, and Rebates

Key Points

  • Wyoming plans to increase its solar energy capacity by 10 times over the next five years.
  • The average cost of solar panels in Wyoming is $2.57 per watt, with a 6kW system costing around $15,420 before incentives.
  • Wyomingites use less power than the national average, resulting in smaller solar panel systems that may cost around $12,336 before incentives.
  • Sunlight and location, as well as the type of panel used, can affect the cost of solar panels in Wyoming.
  • Residents who invest in solar panels in Wyoming can save thousands on utilities, with a potential return of $9,675 to $15,958 over the lifespan of a 6kW system.

As of 2023, Wyoming only had 148MW of solar energy, enough to power just 22,000 homes. However, the Equality State plans to up these numbers by 10 times over the next five years. This is good news for homeowners considering solar panels in Wyoming, as it typically comes with financial support from the state.

So while you prepare for clean energy, let’s take a look at how much a new array could cost. In this article, we break down average prices along with the factors that affect them. We also show you how much you could save after making the switch. So let’s get into it.

Average Cost of Solar Panels in Wyoming

When it comes to the cost of solar panels in Wyoming, you can expect a solid deal. At an average price of $2.57 per watt, equipment runs just slightly higher than in other states. For a 6kW system, Wyomingites can expect to pay around $15,420 before incentives.

However, these low rates lose some of their value when compared to the average cost of electricity. Homeowners in the Equality State pay only 12 cents per watt, which is incredibly affordable. Although residents require less power, resulting in smaller systems, the overall return may not prove as lucrative as in some other states.

Still, there’s benefit from owning solar panels in Wyoming, and the federal solar tax return can help with installation costs. Homeowners utilizing this financial incentive can receive a 30% return for all purchases made towards a solar array. Those installing the same 6kW system could see the total cost drop from $15,420 to $10,794.

How Much Solar Do Wyomingites Need?

The example from above shows the cost of solar panels in Wyoming when purchasing the standard-size array. However, homeowners in the Equality State use less power than most and may need less wattage to cover their requirements. 

To find the appropriate size for your solar panel system, you’ll need to divide your daily power usage by the average amount of sunlight you receive. Here’s what this looks like using Wyoming’s state averages.

Residents of the Equality State use about 29.0kWh a day (or 869kWh a month). When we divide that by Wyoming’s average peak sun of 6.06 hours, we learn that a solar panel system needs to produce around 4.8kW an hour. Noticeably less than the national average, Wyomingites may pay about $12,336 before incentives for this array.

Having the right size system can help you put together an accurate budget. Because sunlight varies with location, use this Wyoming sun chart to find the average for your nearest town or city.

Wyoming Solar Cost Factors

As we touched on above, sunlight has a major influence on the price of solar panels in Wyoming. And because the state sits near the top of the United States, those living on the north side may see less sun than those in the south. 

In fact, the City of Sheridan may see as little as 5 hours of peak sun, more than an hour less a day. That can cause the overall solar array size to increase, resulting in higher installation costs.

To learn more about how sunlight and location can affect the cost of solar, compare Wyoming to its neighboring states:

Another factor that affects the price of solar is the type of panel used in your array. You generally have a choice between monocrystalline for efficiency and polycrystalline for affordability. Because Wyoming sees some of the best sunlight in the country, most homeowners can get away with poly to save money. However, if you lack the roof space for the extra panels, mono equipment makes a great alternative.

Finally, you want to consider the company you hire to install your solar panels carefully. While labor costs may seem high, you don’t want to compromise on quality. Since your array needs to last up to 25 years, a solar installer that offers a lower rate may not cover you in terms of equipment or warranties. However, with only 8 installers in the entire state, you may not have much choice here.

Tiny House with solar panels in Wyoming
Homeowners can save money on solar panels in Wyoming by choosing an installer that can accommodate brutal winters.

Best Solar Installers in Wyoming

When recommending installation companies for solar panels in Wyoming, we like to use EnergySage’s pre-screening standards. The company has endorsement from the SEIA and the Department of Energy, making it highly reputable. When reviewing solar companies, we look for quality in these categories:

  • Years of experience
  • Contractor transparency
  • Equipment type
  • Warranty coverage
  • Certifications and licenses

Here are our two top choices for Wyoming residents.

With over 20 years in the industry, Creative Energies Solar serves residents across Wyoming as well as Idaho and Utah. The company has strong experience designing solar arrays catered to notorious snowstorms, and their warranties back them up on it. While its services run on the more expensive side, you’ll definitely get your money’s worth.

However, if you want local service without the cost, WYCO Wind and Solar has you covered. The Cheyenne-based installer offers a wide range of equipment (including Tesla) while also offering competitive prices. Unfortunately, WYCO only offers its services to Southeast Wyoming, but with its experience, it’s only a matter of time until it expands.

Can Solar Energy Save Wyomingites Money?

With great rates on equipment and excellent sunlight, homeowners have good reason to invest in solar panels in Wyoming. However, with such low energy costs in the Equality State, many might not save as much as they’d like. Still, residents who invest in solar can save thousands on utilities. Here’s what those returns could look like.

First, you’ll have to determine the payoff time. With an average annual electricity bill of $1,256.52 to use as a utility offset, a 6kW system could be covered in 12.3 years. While this is slightly longer than in most states, it’s important to remember that Wyomingites may not need a system of this size.

With the solar array paid off, your electricity offset turns into net savings on your investment. With an average lifespan of 20 to 25 years, you could earn back as much as $9,675 to $15,958 from your 6kW system. And with financial incentives and state regulations, you could increase that return even more.

Solar Panels in Wyoming: Rebates, Credits, and Incentives

Up front, solar panels in Wyoming make a lot of sense. However, residents may not find additional support from state legislation. Financial incentives typically make or break system ownership for the majority of homeowners. 

Still, Wyomingites have a few programs to help reduce the cost of an installation. Even with just the federal credit, homeowners can save over $4,500. And with a decent net metering regulation, those who make the switch can save even more on their excess solar energy. To learn about Wyoming’s incentives for home solar, check out our detailed guide.

Frequently Asked Questions

Is solar worth it in Wyoming?

With decent equipment prices and excellent sunlight, solar panels in Wyoming make total sense. Even with already low electricity rates and little government support, homeowners in the Equality State could save as much as $15,000 or more over 25 years.

How much does solar cost in Wyoming?

In Wyoming, homeowners can expect to pay about $2.57 per watt for solar energy. This equals around $15,420 for a 6kW system. Factors that can affect this price include wattage, sunlight, equipment type, installation quality, and financial incentives.

How long does it take for solar panels to pay back in Wyoming?

With an average annual electricity bill of $1,256.52 to use as a utility offset, a 6kW system could be covered in 12.3 years.

Can you get a federal tax credit for solar panels in Wyoming?

Homeowners in Wyoming can utilize the federal solar tax credit to save 30% on all solar purchases made, including labor, equipment, and sales tax. Those who install a 6kW system in Wyoming could save over $4,500 on their initial investment.

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