Solar Panel Cost Guide in Hull, WI (2023 Update)
- Hull Solar Installation Cost: $19,891
- 25-Year Savings: $23,625
- Payback Period: 13.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated October 25, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hull
Find out what the average cost of solar panel installation is in Hull.
Although the national average of solar panels is $2.66 per watt, solar panels in Hull generally cost about 2.6.The average Hull homeowner needs a 7.3-kilowatt system, which would cost about $13,322 with the federal tax credit, or $19,050 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on energy bills.
To receive a free estimate from a highly rated solar installation company in Hull, you can click the button below.
Solar savings over time in Hull
| Year | Return on Investment |
|---|---|
| 1 years | $-18,993 |
| 3 years | $-17,197 |
| 5 years | $-15,401 |
| 7 years | $-13,605 |
| 9 years | $-11,809 |
| 11 years | $-10,012 |
| 13 years | $-8,216 |
| 15 years | $-6,420 |
| 17 years | $-4,624 |
| 19 years | $-2,828 |
| 21 years | $-1,032 |
| 23 years | $764 |
| 25 years | $2,560 |
Top Solar Installers in Hull
Many homeowners opt for a solar panel company since installing solar panels on your own can be time-consuming. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Hull
Factors that Affect Solar Panel Costs in Hull
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Hull: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over five to seven years on average.Although solar loans make going solar more accessible for Hull homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in Hull, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment.Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $13,327 | 14.0 years |
| 8 kW | $3.96 | $22,163 | $18,204 | 13.7 years |
| 10 kW | $3.88 | $27,160 | $23,298 | 13.5 years |
| 12 kW | $3.80 | $31,940 | $28,609 | 13.2 years |
| 14 kW | $3.72 | $36,503 | $34,138 | 12.9 years |
| 16 kW | $3.65 | $40,849 | $39,884 | 12.6 years |
| 18 kW | $3.57 | $44,977 | $45,847 | 12.4 years |
| 20 kW | $3.49 | $48,888 | $52,027 | 12.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
- Contract: Before you sign a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
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 Hull, WI Solar Cost FAQs
What is the average cost of installing solar panels in Hull?
The average cost of solar panels in Hull 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 certain factors such as the model 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 Hull?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback 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 option if you want to get the most savings.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,009.15 per year.
How long do solar panels last in Hull?
On average, the lifespan of solar panels is 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 higher 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.