Solar Panel Cost Guide in Beloit, WI (2024 Update)
- Beloit Solar Installation Cost: $19,674
- 25-Year Savings: $22,417
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Beloit
Find out how much it might cost to switch to solar power in Beloit.
The average cost of a solar panel system in Beloit is 4 per watt.To cover the typical energy usage of the average home in Beloit, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs about $19,674, or $28,134 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and your own solar costs will most likely look different based on your energy needs and what company you choose to go with.Even with the high initial cost, the average Beloit homeowner can save around $19,000 on their energy bills over 20 years, which is one of the positives of solar.
To get a free quote from a top solar company in Beloit, you can click the button below.
Solar savings over time in Beloit
| Year | Return on Investment |
|---|---|
| 1 years | $-18,567 |
| 3 years | $-16,352 |
| 5 years | $-14,138 |
| 7 years | $-11,923 |
| 9 years | $-9,708 |
| 11 years | $-7,494 |
| 13 years | $-5,279 |
| 15 years | $-3,065 |
| 17 years | $-850 |
| 19 years | $1,365 |
| 21 years | $3,579 |
| 23 years | $5,794 |
| 25 years | $8,009 |
Top Solar Installers in Beloit
Installing solar panels on your own can be a stressful task, which is why using a solar installer is a good option for many homeowners. Companies can also offer access to a large variety of the best solar panels and help you decide which one will be best for your home.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Beloit
Factors that Affect Solar Panel Costs in Beloit
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that will push your cost above or below the average in Beloit: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Beloit, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $3,880 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Beloit, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Beloit is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services for different budgets.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fits within 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 | $12,539 | 14.4 years |
| 8 kW | $3.96 | $22,163 | $17,154 | 14.1 years |
| 10 kW | $3.88 | $27,160 | $21,985 | 13.8 years |
| 12 kW | $3.80 | $31,940 | $27,034 | 13.5 years |
| 14 kW | $3.72 | $36,503 | $32,300 | 13.3 years |
| 16 kW | $3.65 | $40,849 | $37,784 | 13.0 years |
| 18 kW | $3.57 | $44,977 | $43,484 | 12.7 years |
| 20 kW | $3.49 | $48,888 | $49,402 | 12.4 years |
How to Save on Solar Panels
The solar panel company you go with will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: When reading over your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Long-standing companies 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 adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
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 Beloit, WI Solar Cost FAQs
How much does it cost to install solar panels in Beloit?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for 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 will solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Beloit is currently $167,850, so you can look forward to a value of about $6,882 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Beloit is a worthwhile investment.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can keep using 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.