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.
The national average cost of solar panels is $2.66 per watt, but in Farmington it’s 4 per watt.To account for the typical energy needs of the average home in Farmington, most homeowners require a 7.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $19,761, or $28,258 before the federal solar tax credit of 0 is applied.
These figures are only averages, and the cost of going solar for you may differ based on your energy needs and what company you want to go with.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a custom quote.
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
Many homeowners opt for a solar panel company since installing solar panels on your own can be a labor-intensive endeavor. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money over time.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Farmington
Factors that Affect Solar Panel Costs in Farmington
Though the average cost of a solar system in Farmington is $19,761, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $3,880 per kilowatt in Farmington.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Farmington, 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 solar panels out of pocket is too expensive, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to factor 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
The last key cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Farmington, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle 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 | $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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Reputation: Long-standing companies likely have a high 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 service, 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 go with.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
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 additional 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 less expensive solar panels.
Is it better to lease or buy solar panels in Farmington?
Leasing solar panels can be an option if you can’t 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 it worth going solar in Farmington?
Whether or not solar panels are worth it depends on some different 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 how much 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.