Solar Panel Cost Guide in Farmington, WI (2023 Update)
- Farmington Solar Installation Cost: $13,242
- 25-Year Savings: $27,610
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Farmington
We go over average solar pricing in Farmington.
The national average cost of solar panels is $2.66 per watt, but in Farmington it's 2.6 per watt. The average Farmington homeowner needs a 7.3-kilowatt system, which would cost about $13,250 with the federal tax credit, or $18,948 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of going solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $21,000 over 20 years on energy bills.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Farmington
| Year | Return on Investment |
|---|---|
| 1 years | $-12,061 |
| 3 years | $-9,700 |
| 5 years | $-7,339 |
| 7 years | $-4,978 |
| 9 years | $-2,618 |
| 11 years | $-257 |
| 13 years | $2,104 |
| 15 years | $4,465 |
| 17 years | $6,826 |
| 19 years | $9,187 |
| 21 years | $11,548 |
| 23 years | $13,909 |
| 25 years | $16,270 |
Top Solar Installers in Farmington
Trying to put up solar panels yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy usage, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
There are a number of licensed solar professionals that can take care of your solar installation project. 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 Farmington
Factors that Affect Solar Panel Costs in Farmington
For many Farmington homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Farmington, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,600. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Farmington offer solar loans, which reduce your upfront costs of installing solar panels. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar installation companies in Farmington, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra 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 | $22,332 | 8.4 years |
| 8 kW | $2.65 | $14,851 | $30,067 | 8.3 years |
| 10 kW | $2.60 | $18,200 | $37,948 | 8.1 years |
| 12 kW | $2.55 | $21,403 | $45,974 | 7.9 years |
| 14 kW | $2.50 | $24,461 | $54,146 | 7.8 years |
| 16 kW | $2.44 | $27,373 | $62,464 | 7.6 years |
| 18 kW | $2.39 | $30,139 | $70,927 | 7.5 years |
| 20 kW | $2.34 | $32,760 | $79,535 | 7.3 years |
How to Save on Solar Panels
There are a lot of companies available in Farmington, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: The type of solar panel you'd like to install plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can be tedious, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
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?
The average cost of solar panels in Farmington is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Farmington?
A solar panel system isn't free in Farmington, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your property value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Farmington?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.