Solar Panel Cost Guide in Lake Geneva, WI (Dec 2022)

  • Lake Geneva Solar Installation Cost: $13,122
  • 25-Year Savings: $25,601
  • Payback Period: 8.5 Years

See cost of a solar system near you:

EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 11/09/2022

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Average Cost of Solar Panels in Lake Geneva

Let's have a look at the average cost of solar in Lake Geneva.

In Lake Geneva, solar panels cost about $3 per watt on average. To account for the typical energy usage of the average home in Lake Geneva, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,122, or $9,710 after the federal solar tax credit of 30% is applied.

The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary quite a bit based on several factors, such as how many panels you need, your energy usage and what company you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $20,000 over 20 years on electricity bills.

To see your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Lake Geneva

Year Return on Investment
1 years $-11,573
3 years $-8,475
5 years $-5,378
7 years $-2,280
9 years $818
11 years $3,916
13 years $7,014
15 years $10,112
17 years $13,209
19 years $16,307
21 years $19,405
23 years $22,503
25 years $25,601

Top Solar Installers in Lake Geneva

Many homeowners opt for a solar panel company since trying to put up solar panels yourself can be time-consuming. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.

You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Lake Geneva:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0

  • 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 Lake Geneva

Factors that Affect Solar Panel Costs in Lake Geneva

There are several factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.

Solar Equipment

When it comes to estimating the cost of a solar panel system in Lake Geneva, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy consumption, which you can determine by looking at past power bills. Your total cost can increase by around $2,600 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your electric bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lake Geneva average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Lake Geneva, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. It's a good idea to factor 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 off the loan.

Solar Panel Installation Company

The last major cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Lake Geneva, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 $2.70 $11,357 $20,887 8.8 years
8 kW $2.65 $14,851 $28,141 8.6 years
10 kW $2.60 $18,200 $35,540 8.5 years
12 kW $2.55 $21,403 $43,084 8.3 years
14 kW $2.50 $24,461 $50,775 8.1 years
16 kW $2.44 $27,373 $58,611 8.0 years
18 kW $2.39 $30,139 $66,592 7.8 years
20 kW $2.34 $32,760 $74,719 7.6 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:

  • Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
  • Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the project completion timeline.
  • Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
  • Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Lake Geneva, WI Solar Cost FAQs

What is the average cost of installing solar panels in Lake Geneva?

This is a difficult question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.

Can you get solar panels for free in Lake Geneva?

You can't get solar panels for free in Lake Geneva. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after switching to solar?

It is possible to erase your electricity bills with solar panels, but for most homeowners in Lake Geneva, 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 check with a local solar installer to see how many panels can fit on your roof.

How many solar panels do I need to power my home?

The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.

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.

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