Solar power in Pierre, South Dakota
Pierre Municipal Electric does not offer net metering or any rebates to its solar customers. In fact, only one investor-owned utility in the state, Xcel Energy, provides compensation for net excess generation.
However, Pierre residents can apply for the statewide property tax exemption. Under it, once a solar system is installed on a property, it will be assessed. The first $50,000, or 70% of the assessed value, (whichever value is greater) is exempt from the homeowners' property taxes. This can save you quite a bit of money on solar in South Dakota.
Additionally, Pierre homeowners can take advantage of the federal tax credit, which provides a credit equal to 26% of the total system costs in 2020, and is applied to your federal income taxes.
So, even without net metering or additional rebates, Pierre residents still have the potential for great savings with the federal tax credit and the property tax exemption.
The average cost of installing residential solar panels in Pierre,
South Dakota 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 Pierre, SD
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 South Dakota is only 967kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Pierre 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 South Dakota solar savings calculator can do this because it contains a database of the electric rates charged by NorthWestern Energy, Oahe Electric Coop Inc, City of Pierre
How much can solar panels save you in Pierre
What does the cost of a real solar system look like?
Facts about installing a 10.39kW solar system in Pierre, SD
This system would offset 100% of your energy usage if your typical monthly bill is $124, however your situation may vary so try our Pierre solar calculator to get a result tailored to you.
$15,377
Net cost of system
8 Years 8 Months
Average payback time
13,777 kWh
Annual power production
4¢/kWh
Levelized cost of solar energy
19¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 10.39kW system
Life-time savings on this system over the next 25 years
$43,963
(Prices shown after repayments of capital)
Average total cost of solar panel installation in Pierre
| 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 South Dakota
Check out all of the ways energy providers of South Dakota 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 |
| Renewable Energy System Exemption | State | Property Tax Incentive |
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.
