Solar Panel Cost Guide in Beloit, WI (2023 Update)
- Beloit Solar Installation Cost: $13,177
- 25-Year Savings: $22,424
- Payback Period: 9.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Beloit
We go over average solar pricing in Beloit.
While the national average of solar panels is $2.66 per watt, solar panels in Beloit generally cost about 2.6. Using this figure, a typical 7.2-kW system would cost about $13,177 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Beloit depending on a few factors, such as the brand of solar panels you choose and the solar company you hire. Despite the significant upfront cost, the average Beloit homeowner can save about $19,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Beloit
| Year | Return on Investment |
|---|---|
| 1 years | $-11,753 |
| 3 years | $-8,905 |
| 5 years | $-6,057 |
| 7 years | $-3,209 |
| 9 years | $-361 |
| 11 years | $2,487 |
| 13 years | $5,335 |
| 15 years | $8,184 |
| 17 years | $11,032 |
| 19 years | $13,880 |
| 21 years | $16,728 |
| 23 years | $19,576 |
| 25 years | $22,424 |
Top Solar Installers in Beloit
Although it's possible to install solar panels on your own, it takes extra energy and expertise. For that reason, almost all homeowners choose a solar panel installer. A solar installer can also help save you money in the long run by offering warranties, repairs and component replacements.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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
See all of the solar companies in Beloit
Factors that Affect Solar Panel Costs in Beloit
There are a number of factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Beloit, where sunlight isn't as 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 utility bills over many years, but they can also be a significant investment. That's why many Beloit homeowners opt to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Beloit is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that provide a range of services at different costs. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.70 | $11,357 | $18,130 | 9.6 years |
| 8 kW | $2.65 | $14,851 | $24,465 | 9.4 years |
| 10 kW | $2.60 | $18,200 | $30,945 | 9.3 years |
| 12 kW | $2.55 | $21,403 | $37,571 | 9.1 years |
| 14 kW | $2.50 | $24,461 | $44,342 | 8.9 years |
| 16 kW | $2.44 | $27,373 | $51,260 | 8.7 years |
| 18 kW | $2.39 | $30,139 | $58,322 | 8.5 years |
| 20 kW | $2.34 | $32,760 | $65,530 | 8.3 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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
EcoWatch's Beloit, WI Solar Cost FAQs
How much does it cost to install solar panels in Beloit?
The average cost of solar panels in Beloit is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Beloit?
You can't get solar panels for free in Beloit. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $982.90 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.