Solar Panel Cost Guide in Fox Point, WI (2023 Update)
- Fox Point Solar Installation Cost: $12,497
- 25-Year Savings: $28,276
- Payback Period: 7.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fox Point
Find out how much it might cost to switch to solar power in Fox Point.
The average cost of a solar system in Fox Point is 2.6 per watt. To cover the typical energy usage of the average home in Fox Point, most homeowners require a 6.9-kilowatt system. Using the figure above, a solar installation costs about $12,503, or $17,879 before the federal solar tax credit of 30% is applied.
The true cost of your system can be higher or lower than the average in Fox Point depending on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $23,000 in savings on energy bills over 20 years.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Fox Point
| Year | Return on Investment |
|---|---|
| 1 years | $-11,202 |
| 3 years | $-8,611 |
| 5 years | $-6,020 |
| 7 years | $-3,429 |
| 9 years | $-838 |
| 11 years | $1,753 |
| 13 years | $4,344 |
| 15 years | $6,935 |
| 17 years | $9,526 |
| 19 years | $12,117 |
| 21 years | $14,708 |
| 23 years | $17,299 |
| 25 years | $19,890 |
Top Solar Installers in Fox Point
When going solar, many homeowners opt to use a solar installer since overseeing your solar installation yourself can be a difficult project. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
There are several 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 Fox Point
Factors that Affect Solar Panel Costs in Fox Point
There are many factors that can determine your solar system 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 cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,600. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your total costs, so it's important to take that into consideration as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Fox Point is the company you choose to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Fox Point are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $2.70 | $11,357 | $24,270 | 8.0 years |
| 8 kW | $2.65 | $14,851 | $32,652 | 7.8 years |
| 10 kW | $2.60 | $18,200 | $41,179 | 7.7 years |
| 12 kW | $2.55 | $21,403 | $49,851 | 7.5 years |
| 14 kW | $2.50 | $24,461 | $58,669 | 7.4 years |
| 16 kW | $2.44 | $27,373 | $67,633 | 7.2 years |
| 18 kW | $2.39 | $30,139 | $76,743 | 7.0 years |
| 20 kW | $2.34 | $32,760 | $85,998 | 6.9 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Fox Point, 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:
- Installation Process: When making the switch to solar, it's necessary to maintain an open line of communication with your solar panel company. Make sure you understand how the installation process works and the completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you want a specific brand, make sure the solar installer you're considering has it.
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 Fox Point, WI Solar Cost FAQs
What is the average cost of installing solar panels in Fox Point?
The average cost of solar panels in Fox Point 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 model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Fox Point?
Solar panels aren't free in Fox Point, 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 you can take advantage of.
How will installing solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fox Point is currently $349,700, which means you could be looking at a value of about $14,338 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Fox Point is a fruitful investment.
How long do solar panels last in Fox Point?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.