Solar Panel Cost Guide in Farmington, WI (2024 Update)
- Farmington Solar Installation Cost: $19,761
- 25-Year Savings: $27,610
- Payback Period: 12.1 Years
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Average Cost of Solar Panels in Farmington
See how much it might cost to switch to solar power in Farmington.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Farmington, the typical cost of a solar system is 4 per watt.The average solar panel system size in Farmington is around 7.3 kilowatts, meaning a cost of about $19,761 for a solar installation, or $28,258 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of going solar 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.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on power bills.
To get a free estimate from a highly rated solar company in Farmington, you can click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-18,580 |
| 3 years | $-16,219 |
| 5 years | $-13,858 |
| 7 years | $-11,497 |
| 9 years | $-9,137 |
| 11 years | $-6,776 |
| 13 years | $-4,415 |
| 15 years | $-2,054 |
| 17 years | $307 |
| 19 years | $2,668 |
| 21 years | $5,029 |
| 23 years | $7,390 |
| 25 years | $9,751 |
Top Solar Installers in Farmington
When switching to solar energy, many homeowners decide to go with a solar installer since overseeing your solar installation yourself can be a challenging project. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance in the long run.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Farmington
Factors that Affect Solar Panel Costs in Farmington
There are a number of criteria 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 panels.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $3,880. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they cut back your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The final significant cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Farmington, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Farmington are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,741 | 12.6 years |
| 8 kW | $3.96 | $22,163 | $22,756 | 12.3 years |
| 10 kW | $3.88 | $27,160 | $28,988 | 12.1 years |
| 12 kW | $3.80 | $31,940 | $35,437 | 11.9 years |
| 14 kW | $3.72 | $36,503 | $42,104 | 11.6 years |
| 16 kW | $3.65 | $40,849 | $48,988 | 11.4 years |
| 18 kW | $3.57 | $44,977 | $56,089 | 11.1 years |
| 20 kW | $3.49 | $48,888 | $63,407 | 10.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer 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:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Contract: Although reading through a contract can be tedious, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Warranty: If you’re concerned about the durability of your solar panel system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Farmington, WI Solar Cost FAQs
How much does it cost to install solar panels in Farmington?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Farmington?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property 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 bang for your buck from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs 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 buy between 20 and 35 panels to account for 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.