Solar Panel Cost Guide in Lafayette, WI (2024 Update)
- Lafayette Solar Installation Cost: $20,085
- 25-Year Savings: $23,724
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Lafayette
We go over average solar pricing in Lafayette.
The average cost of a solar panel system in Lafayette is 4 per watt.The average solar panel system size in Lafayette is around 7.4 kilowatts, meaning a cost of about $20,085 for a solar installation, or $28,722 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will vary based on factors unique to your home and what company you choose to go with.But, once you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $19,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Lafayette
| Year | Return on Investment |
|---|---|
| 1 years | $-18,981 |
| 3 years | $-16,773 |
| 5 years | $-14,564 |
| 7 years | $-12,355 |
| 9 years | $-10,147 |
| 11 years | $-7,938 |
| 13 years | $-5,730 |
| 15 years | $-3,521 |
| 17 years | $-1,313 |
| 19 years | $896 |
| 21 years | $3,104 |
| 23 years | $5,313 |
| 25 years | $7,521 |
Top Solar Installers in Lafayette
When switching to solar energy, many homeowners opt to hire a solar installer since overseeing your solar installation yourself can be a time-consuming project. Companies can also provide access to quality options of the best solar panels and help you choose which one will be best for your family.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some in Lafayette:
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 Lafayette
Factors that Affect Solar Panel Costs in Lafayette
There are many factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $3,880. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact how much you pay. Lafayette’s solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $13,220 | 14.0 years |
| 8 kW | $3.96 | $22,163 | $18,062 | 13.8 years |
| 10 kW | $3.88 | $27,160 | $23,121 | 13.5 years |
| 12 kW | $3.80 | $31,940 | $28,396 | 13.2 years |
| 14 kW | $3.72 | $36,503 | $33,890 | 13.0 years |
| 16 kW | $3.65 | $40,849 | $39,600 | 12.7 years |
| 18 kW | $3.57 | $44,977 | $45,528 | 12.4 years |
| 20 kW | $3.49 | $48,888 | $51,673 | 12.2 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Installation Process: Make sure you’re on the same page with the installer in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
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 Lafayette, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lafayette?
The average cost of solar panels in Lafayette is about $19,400 for a 5-kW system and $38,800 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 consume.
Is it better to lease or buy solar panels in Lafayette?
Leasing solar panels can be an option if you are unable to 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 savings from going solar.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Lafayette, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Lafayette?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.