Solar Panel Cost Guide in Holmen, WI (2023 Update)
- Holmen Solar Installation Cost: $13,494
- 25-Year Savings: $23,090
- Payback Period: 9.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Holmen
See how much it might cost to install solar panels in Holmen.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Holmen, the average cost of solar panels is 2.6 per watt. Using this figure, a typical 7.4-kW system would cost about $13,486 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy use, the type of solar system you choose, your solar contractor and more. Despite the significant upfront cost, the average Holmen homeowner can save about $19,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a pre-vetted solar installer in Holmen for a quote for your home.
Solar savings over time in Holmen
| Year | Return on Investment |
|---|---|
| 1 years | $-13,372 |
| 3 years | $-13,128 |
| 5 years | $-12,884 |
| 7 years | $-12,640 |
| 9 years | $-12,396 |
| 11 years | $-12,153 |
| 13 years | $-11,909 |
| 15 years | $-11,665 |
| 17 years | $-11,421 |
| 19 years | $-11,177 |
| 21 years | $-10,933 |
| 23 years | $-10,689 |
| 25 years | $-10,445 |
Top Solar Installers in Holmen
When going solar, many homeowners prefer to hire a solar installation company since DIY solar panel installation can be a difficult project. The expertise that solar installers offer can be invaluable as well, particularly if you aren't sure what brand of solar equipment you need.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some in Holmen:
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 Holmen
Factors that Affect Solar Panel Costs in Holmen
The cost of installing a solar system in Holmen can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and type of equipment you choose for your solar system can raise or lower 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Also, 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 Holmen provide solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can play a part in determining how much you pay. Holmen's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Holmen have more knowledge about local solar incentives and can help you take advantage 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 | $2.70 | $11,357 | $18,249 | 9.6 years |
| 8 kW | $2.65 | $14,851 | $24,623 | 9.4 years |
| 10 kW | $2.60 | $18,200 | $31,143 | 9.2 years |
| 12 kW | $2.55 | $21,403 | $37,808 | 9.0 years |
| 14 kW | $2.50 | $24,461 | $44,619 | 8.9 years |
| 16 kW | $2.44 | $27,373 | $51,575 | 8.7 years |
| 18 kW | $2.39 | $30,139 | $58,677 | 8.5 years |
| 20 kW | $2.34 | $32,760 | $65,925 | 8.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
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 Holmen, WI Solar Cost FAQs
What is the average cost of installing solar panels in Holmen?
The average cost of solar panels in Holmen is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Holmen?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Holmen?
On average, solar panels can last 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.