Go Solar
in Rigby, ID

Yes, it is worth getting solar panels in Rigby, Idaho, for several reasons:
Financial Savings: The average cost of a solar panel system in Rigby is $13,705 after the federal tax credit, and the payback period is approximately 10.5 years. After this period, the system will start generating net savings. Over 25 years, the estimated savings amount to $19,062. Moreover, the average solar customer in Idaho pays for their system in just 14 years and then saves an additional $11,478 on utility bills.

Homeowners in Rigby qualify for a 30% federal tax credit through 2032, which will decrease to 26% in 2033, and 22% in 2034. These incentives significantly reduce the upfront cost of installing a solar panel system.

Solar panels can generate more power than a typical Rigby home needs during peak hours. With grid-tied systems, all the energy that is not used by a household goes back to the energy grid and receives credit for it because of net metering. This means you can potentially have a self-sufficient power system for your home, reducing your reliance on the grid.

The cost of going solar in Idaho varies depending on the size of the solar panel system and the specific location. As of 2023, the average cost per watt of solar panels in Idaho ranges from $2.52 to $2.97. Given a solar panel system size of 5 kilowatts (kW), an average solar installation in Idaho ranges in cost from $12,622 to $17,078, with the average gross price for solar in Idaho coming in at $14,850. After accounting for the 30% federal investment tax credit (ITC) and other state and local solar incentives, the net price you'll pay for solar can fall by thousands of dollars.

For instance, a typical 6 kW solar system costs around $10,592 after claiming the 30% federal tax credit. Most Idaho residents need a 10 kilowatt (kW) solar system to offset their above-average energy needs, which puts the total cost of converting to solar in Idaho at $26,000. After the federal investment tax credit (ITC), that cost comes down to an average of $18,200.

Indeed, Idaho provides homeowners with a residential alternative energy tax benefit. This perk enables a 40% income tax deduction on the installation costs of solar, wind, geothermal, and specific biomass energy systems used either for heating or power generation. In the installation year, the deduction can be claimed, followed by 20% deductions annually for the next three years. However, there's a yearly cap of $5,000 and an overall limit of $20,000. Beyond this, Idaho presents an array of financial incentives such as tax credits, rebates, and advantageous net-metering policies. These incentives considerably reduce the upfront costs, making the return on solar investments quicker. Additionally, the federal solar investment tax credit is accessible to Idaho residents, granting a 30% deduction of the solar panel setup costs. In essence, the data indicates that opting for solar energy in Idaho is a judicious choice for many homeowners, leading to significant long-term savings.

Yes, solar panels do increase home value in Idaho. According to estimates from Zillow, when you install solar panels on your home, your property value is expected to increase by around 4.1%, on average. In Idaho, where the average home is valued at $467,315, the typical increase in value will be a massive $19,160. This dollar amount could be even higher in more expensive areas, like Boise, Idaho Falls, and Twin Falls.

A study by the National Renewable Energy Laboratory (NREL) also supports this, stating that homes with solar panels sell for an average of $15,000 more than homes without solar panels[3]. The Lawrence Berkeley National Laboratory, in conjunction with the U.S. Department of Energy, found that buyers were willing to pay an additional $15,000, on average, for homes with photovoltaic systems than they would for similar homes without PV power.