Solar Panel Cost Guide in Lake Hallie, WI (2023 Update)
- Lake Hallie Solar Installation Cost: $20,085
- 25-Year Savings: $23,082
- Payback Period: 13.7 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Lake Hallie
Find out what the average cost of solar panel installation is in Lake Hallie.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lake Hallie, the typical cost of a solar system is 2.6 per watt.The average Lake Hallie homeowner needs a 7.4-kilowatt system, which would cost about $13,468 with the federal tax credit, or $19,259 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy consumption and what solar installer you go with.For most homeowners, the upfront investment in solar is worth paying. On average homeowners in Lake Hallie see about $19,000 in savings on energy bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Lake Hallie
| 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 Lake Hallie
Although it's possible to install solar panels yourself, it takes extra labor and know-how. That's why most people choose to go with a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for you.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Lake Hallie
Factors that Affect Solar Panel Costs in Lake Hallie
For many Lake Hallie homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Lake Hallie, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That's why it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are several different solar panel brands and the one you choose also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies usually 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 | $12,699 | 14.3 years |
| 8 kW | $3.96 | $22,163 | $17,367 | 14.0 years |
| 10 kW | $3.88 | $27,160 | $22,251 | 13.7 years |
| 12 kW | $3.80 | $31,940 | $27,354 | 13.5 years |
| 14 kW | $3.72 | $36,503 | $32,673 | 13.2 years |
| 16 kW | $3.65 | $40,849 | $38,210 | 12.9 years |
| 18 kW | $3.57 | $44,977 | $43,964 | 12.6 years |
| 20 kW | $3.49 | $48,888 | $49,935 | 12.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- 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 ask for their list of options before deciding.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
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 Lake Hallie, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lake Hallie?
This is a difficult question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How will having solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lake Hallie is currently $164,428, which means you can look forward to a value of about $6,742 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lake Hallie is a worthwhile investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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.