Solar Panel Cost Guide in Algoma, WI (2024 Update)
- Algoma Solar Installation Cost: $19,541
- 25-Year Savings: $22,946
- Payback Period: 13.6 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 Algoma
Find out how much it might cost to go solar in Algoma.
In Algoma, solar panels cost about 4 per watt on average.The average solar panel system size in Algoma is around 7.2 kilowatts, meaning a cost of about $19,541 for a solar installation, or $27,944 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of going solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Algoma that can help you get a more accurate cost estimate for your home.
Solar savings over time in Algoma
| Year | Return on Investment |
|---|---|
| 1 years | $-18,434 |
| 3 years | $-16,219 |
| 5 years | $-14,004 |
| 7 years | $-11,790 |
| 9 years | $-9,575 |
| 11 years | $-7,360 |
| 13 years | $-5,146 |
| 15 years | $-2,931 |
| 17 years | $-716 |
| 19 years | $1,498 |
| 21 years | $3,713 |
| 23 years | $5,927 |
| 25 years | $8,142 |
Top Solar Installers in Algoma
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make your swap to solar power much easier. The expertise that solar companies offer can be useful as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Algoma:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Algoma
Factors that Affect Solar Panel Costs in Algoma
The cost of installing a solar system in Algoma can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, 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, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $3,880. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Algoma, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Algoma homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Algoma is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.04 | $16,948 | $13,108 | 14.1 years |
| 8 kW | $3.96 | $22,163 | $17,912 | 13.8 years |
| 10 kW | $3.88 | $27,160 | $22,933 | 13.6 years |
| 12 kW | $3.80 | $31,940 | $28,171 | 13.3 years |
| 14 kW | $3.72 | $36,503 | $33,627 | 13.0 years |
| 16 kW | $3.65 | $40,849 | $39,300 | 12.7 years |
| 18 kW | $3.57 | $44,977 | $45,190 | 12.5 years |
| 20 kW | $3.49 | $48,888 | $51,297 | 12.2 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Look through the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before making your decision.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Algoma, WI Solar Cost FAQs
What is the average cost of installing solar panels in Algoma?
The average cost of solar panels in Algoma is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Algoma?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is it worth going solar in Algoma?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Algoma?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.