Solar Panel Cost Guide in Lake Geneva, WI (2025 Update)
- Lake Geneva Solar Installation Cost: $19,570
- 25-Year Savings: $25,609
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Lake Geneva
Let’s have a look at the average cost of solar panels in Lake Geneva.
The national average cost of solar panels is $2.66 per watt, but in Lake Geneva it’s 4 per watt.Since a 7.2-kW system is needed to cover the energy costs of a typical home in Lake Geneva, the average price of going solar will be about $19,570 after claiming the federal solar tax credit of 0.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Lake Geneva can save about $20,000 on their energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in Lake Geneva for a custom quote.
Solar savings over time in Lake Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-18,275 |
| 3 years | $-15,684 |
| 5 years | $-13,093 |
| 7 years | $-10,502 |
| 9 years | $-7,911 |
| 11 years | $-5,320 |
| 13 years | $-2,729 |
| 15 years | $-138 |
| 17 years | $2,453 |
| 19 years | $5,044 |
| 21 years | $7,635 |
| 23 years | $10,226 |
| 25 years | $12,817 |
Top Solar Installers in Lake Geneva
Many homeowners choose to hire a solar panel company since installing solar panels on your own can be a lot of work. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Lake Geneva
Factors that Affect Solar Panel Costs in Lake Geneva
For many Lake Geneva homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lake Geneva, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels 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 figure out by looking at past power bills. Your overall cost can increase by about $3,880 for each additional kilowatt you need.The kind of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions 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 searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Lake Geneva, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can impact how much it costs. Lake Geneva’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, 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 | $4.04 | $16,948 | $15,296 | 13.1 years |
| 8 kW | $3.96 | $22,163 | $20,829 | 12.9 years |
| 10 kW | $3.88 | $27,160 | $26,580 | 12.6 years |
| 12 kW | $3.80 | $31,940 | $32,547 | 12.4 years |
| 14 kW | $3.72 | $36,503 | $38,733 | 12.1 years |
| 16 kW | $3.65 | $40,849 | $45,135 | 11.9 years |
| 18 kW | $3.57 | $44,977 | $51,754 | 11.6 years |
| 20 kW | $3.49 | $48,888 | $58,591 | 11.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
EcoWatch's Lake Geneva, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lake Geneva?
The average cost of solar panels in Lake Geneva is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lake Geneva?
Leasing solar panels can be an appealing choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Lake Geneva?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.