Solar Panel Cost Guide in Elm Grove, WI (2023 Update)
- Elm Grove Solar Installation Cost: $13,140
- 25-Year Savings: $27,633
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Elm Grove
Let's take a look at the average cost of solar in Elm Grove.
In Elm Grove, solar panels cost about 2.6 per watt on average. To cover the typical energy usage of the average home in Elm Grove, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $13,140, or $18,790 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Elm Grove
| Year | Return on Investment |
|---|---|
| 1 years | $-11,509 |
| 3 years | $-8,248 |
| 5 years | $-4,986 |
| 7 years | $-1,724 |
| 9 years | $1,538 |
| 11 years | $4,800 |
| 13 years | $8,062 |
| 15 years | $11,323 |
| 17 years | $14,585 |
| 19 years | $17,847 |
| 21 years | $21,109 |
| 23 years | $24,371 |
| 25 years | $27,633 |
Top Solar Installers in Elm Grove
Do-it-yourself 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 a solar company can make your swap to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
There are a number of 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 Elm Grove
Factors that Affect Solar Panel Costs in Elm Grove
For many Elm Grove homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Elm Grove, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,600. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Elm Grove offer solar loans, which reduce your upfront costs of installing solar. It's wise 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Elm Grove, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car charger installation, they might be cheaper overall.
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 | $22,506 | 8.4 years |
| 8 kW | $2.65 | $14,851 | $30,300 | 8.2 years |
| 10 kW | $2.60 | $18,200 | $38,239 | 8.1 years |
| 12 kW | $2.55 | $21,403 | $46,323 | 7.9 years |
| 14 kW | $2.50 | $24,461 | $54,553 | 7.7 years |
| 16 kW | $2.44 | $27,373 | $62,929 | 7.6 years |
| 18 kW | $2.39 | $30,139 | $71,450 | 7.4 years |
| 20 kW | $2.34 | $32,760 | $80,117 | 7.3 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Elm Grove, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While 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 peruse their list of offerings before making your decision.
- Warranty: If you're worried about the durability of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Elm Grove, WI Solar Cost FAQs
How much does it cost to install solar panels in Elm Grove?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Are solar panels free in Elm Grove?
You can't get solar panels for free in Elm Grove. However, you may still be able to afford 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 switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Elm Grove, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.