Solar Panel Cost Guide in Lake Wisconsin, WI (2024 Update)
- Lake Wisconsin Solar Installation Cost: $19,848
- 25-Year Savings: $24,851
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Lake Wisconsin
Find out what the average cost of solar panel installation is in Lake Wisconsin.
The average cost of a solar panel system in Lake Wisconsin is 4 per watt.Using this figure, a typical 7.3-kW system would cost about $19,848 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you may vary based on your energy needs and what company you go with.With average savings of about $20,000 on power bills over 20 years, many homeowners in Lake Wisconsin find investing in solar can pay off big.
Click the button below to get connected to a top solar company in Lake Wisconsin for a custom estimate.
Solar savings over time in Lake Wisconsin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,685 |
| 3 years | $-16,360 |
| 5 years | $-14,034 |
| 7 years | $-11,709 |
| 9 years | $-9,383 |
| 11 years | $-7,058 |
| 13 years | $-4,732 |
| 15 years | $-2,407 |
| 17 years | $-81 |
| 19 years | $2,244 |
| 21 years | $4,570 |
| 23 years | $6,895 |
| 25 years | $9,221 |
Top Solar Installers in Lake Wisconsin
Many homeowners decide to hire a solar panel company since trying to install solar panels on your own can be a lot of work. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Lake Wisconsin
Factors that Affect Solar Panel Costs in Lake Wisconsin
For many Lake Wisconsin homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Lake Wisconsin, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,880.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose 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
Solar panels can save you money on energy bills over time, but they can also be a big investment. That’s why many Lake Wisconsin homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also increases your total costs, so it’s important to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Lake Wisconsin is the company you choose to install your PV system. Similar to choosing a company to install new cabinets, for instance, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $14,376 | 13.5 years |
| 8 kW | $3.96 | $22,163 | $19,602 | 13.3 years |
| 10 kW | $3.88 | $27,160 | $25,046 | 13.0 years |
| 12 kW | $3.80 | $31,940 | $30,707 | 12.7 years |
| 14 kW | $3.72 | $36,503 | $36,585 | 12.5 years |
| 16 kW | $3.65 | $40,849 | $42,681 | 12.2 years |
| 18 kW | $3.57 | $44,977 | $48,994 | 12.0 years |
| 20 kW | $3.49 | $48,888 | $55,524 | 11.7 years |
How to Save on Solar Panels
There are many companies available in Lake Wisconsin, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: It’s important to read your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- 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 check your installer’s reputation is by reading reviews.
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 Lake Wisconsin, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lake Wisconsin?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Are solar panels free in Lake Wisconsin?
You can’t get solar panels for free in Lake Wisconsin. However, you may still be able to get 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.
Is going solar worth it?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Lake Wisconsin?
On average, solar panels can last 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 larger 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.