Solar Panel Cost Guide in Lake Hallie, WI (Mar 2023)
- Lake Hallie Solar Installation Cost: $13,468
- 25-Year Savings: $23,073
- Payback Period: 9.2 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lake Hallie
Let's take a look at the average cost of solar in Lake Hallie.
In Lake Hallie, solar panels cost about 2.6 per watt on average. Because a 7.4-kW system is needed to cover the energy consumption of a typical home in Lake Hallie, the average price of going solar will be about $13,468 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary quite a bit based on a few factors, such as what size system you need, your energy usage and what installation company you go with. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Lake Hallie see about $19,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Lake Hallie that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lake Hallie
| Year | Return on Investment |
|---|---|
| 1 years | $-12,006 |
| 3 years | $-9,083 |
| 5 years | $-6,160 |
| 7 years | $-3,237 |
| 9 years | $-313 |
| 11 years | $2,610 |
| 13 years | $5,533 |
| 15 years | $8,456 |
| 17 years | $11,380 |
| 19 years | $14,303 |
| 21 years | $17,226 |
| 23 years | $20,149 |
| 25 years | $23,073 |
Top Solar Installers in Lake Hallie
Many homeowners opt for a solar panel installer since installing solar panels yourself can be hard. The expertise that solar installers provide can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
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 nearby:
Best Technology
Tesla Energy
- 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
See all of the solar companies in Lake Hallie
Factors that Affect Solar Panel Costs in Lake Hallie
The cost of installing a solar system in Lake Hallie can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Lake Hallie, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall 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. On the other hand, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lake Hallie average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in Lake Hallie, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your total costs, so it's crucial to take that into consideration as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar installer you select will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also fits within your budget.
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 | $18,290 | 9.6 years |
| 8 kW | $2.65 | $14,851 | $24,678 | 9.4 years |
| 10 kW | $2.60 | $18,200 | $31,211 | 9.2 years |
| 12 kW | $2.55 | $21,403 | $37,890 | 9.0 years |
| 14 kW | $2.50 | $24,461 | $44,715 | 8.8 years |
| 16 kW | $2.44 | $27,373 | $51,685 | 8.7 years |
| 18 kW | $2.39 | $30,139 | $58,801 | 8.5 years |
| 20 kW | $2.34 | $32,760 | $66,063 | 8.3 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose considerably impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The model of solar panel you want to get plays a part in which company you should opt for, since different companies offer different panels.
- 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.
- Warranty: If you're worried about the longevity of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best Technology
Tesla Energy
- 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
EcoWatch's Lake Hallie, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lake Hallie?
This is a tough question to answer precisely, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Lake Hallie?
Leasing solar panels can be an option if you can't afford 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 home 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.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
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 level 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.