Solar power in Cheyenne, Wyoming
Cheyenne Light, Fuel, and Electric (CLF&E) offers a net metering program to Cheyenne customers who choose to go solar.Cheyenne residents can also take advantage of the federal tax credit.
In 2020, the tax credit is equal to 26% of the installed costs of a solar system and is applied to your federal income taxes. In some cases, you may be able to wipe out your entire tax bill for the year!
The combination of the federal tax credit and CLF&E’s net metering program can provide you with an excellent return on investment on a solar system installation in Wyoming.
Net Metering Broken Down
CLF&E will pay its solar customers for any excess electricity their solar system generates at the full retail rate of electricity.
At the end of the yearly billing cycle, CLF&E will pay its customers for credits that haven’t been used, but at the avoided cost rate. The avoided cost rate is less than the retail rate, however, it is still extra money in your pocket that can be used to reduce your amount spent on utility bill costs.
The average cost of installing residential solar panels in Cheyenne,
Wyoming in 2024 is
$2.44 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Cheyenne, WY
is $12,200.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Wyoming is only 526kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Cheyenne solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Wyoming solar savings calculator can do this because it contains a database of the electric rates charged by Cheyenne Light Fuel & Power Co, City of Pine Bluffs, High West Energy Inc, Wheatland Rural Elec Assn Inc, Wyrulec Company
How much can solar panels save you in Cheyenne
What does the cost of a real solar system look like?
Facts about installing a 4.06kW solar system in Cheyenne, WY
This system would offset 100% of your energy usage if your typical monthly bill is $82, however your situation may vary so try our Cheyenne solar calculator to get a result tailored to you.
$7,992
Net cost of system
7 Years
Average payback time
5,857 kWh
Annual power production
5¢/kWh
Levelized cost of solar energy
30¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 4.06kW system
Life-time savings on this system over the next 25 years
$32,238
(Prices shown after repayments of capital)
Average total cost of solar panel installation in Cheyenne
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,172 | $6,665 |
| 4kw | $7,903 | $8,535 |
| 5kw | $9,472 | $10,230 |
| 6kw | $10,834 | $11,700 |
| 7kw | $12,069 | $13,035 |
| 8kw | $13,142 | $14,194 |
| 9kw | $14,053 | $15,177 |
| 10kw | $14,800 | $15,984 |
Find out what system size you need for your home
Going solar in Wyoming
Check out all of the ways energy providers of Wyoming can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Net Metering | State | Net Metering |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
