Solar Panel Cost Guide in Lake Wisconsin, WI (2023 Update)
- Lake Wisconsin Solar Installation Cost: $13,300
- 25-Year Savings: $24,851
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lake Wisconsin
Let's take a look at the average cost of solar panels in Lake Wisconsin.
In Lake Wisconsin, solar panels cost about 2.6 per watt on average. To account for the typical energy needs of the average home in Lake Wisconsin, most homeowners require a 7.3-kilowatt system. Using the figure above, a solar installation costs about $13,304, or $19,025 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar will differ based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial 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 calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Lake Wisconsin
| Year | Return on Investment |
|---|---|
| 1 years | $-12,137 |
| 3 years | $-9,812 |
| 5 years | $-7,486 |
| 7 years | $-5,161 |
| 9 years | $-2,835 |
| 11 years | $-510 |
| 13 years | $1,815 |
| 15 years | $4,141 |
| 17 years | $6,466 |
| 19 years | $8,792 |
| 21 years | $11,117 |
| 23 years | $13,443 |
| 25 years | $15,768 |
Top Solar Installers in Lake Wisconsin
Trying to put up solar panels yourself can be a time-consuming undertaking, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you're on the hunt for a solar installer in Lake Wisconsin, we've organized a list of our top suggestions here:
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 Wisconsin
Factors that Affect Solar Panel Costs in Lake Wisconsin
For many Lake Wisconsin homeowners, the decision to install a solar energy system depends 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 numerous factors that greatly 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 influences 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 average energy use. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Lake Wisconsin homeowners choose to finance their solar panel systems to make going solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can affect how much it costs. Lake Wisconsin's solar companies all have different labor costs and add varying upcharges to equipment. 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 at a higher cost. It's best to do some research and go with the 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 | $19,967 | 9.1 years |
| 8 kW | $2.65 | $14,851 | $26,914 | 8.9 years |
| 10 kW | $2.60 | $18,200 | $34,006 | 8.7 years |
| 12 kW | $2.55 | $21,403 | $41,244 | 8.5 years |
| 14 kW | $2.50 | $24,461 | $48,627 | 8.4 years |
| 16 kW | $2.44 | $27,373 | $56,157 | 8.2 years |
| 18 kW | $2.39 | $30,139 | $63,831 | 8.0 years |
| 20 kW | $2.34 | $32,760 | $71,652 | 7.8 years |
How to Save on Solar Panels
The solar panel company you opt for will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Installation Process: One of the most important things to understand when going solar 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 acquire and how long the project will take.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: If you're worried about the durability of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Wisconsin, WI Solar Cost FAQs
How much does it cost to install solar panels in Lake Wisconsin?
The average cost of solar panels in Lake Wisconsin is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Lake Wisconsin?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 bang for your buck from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
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 average daily 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 get 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.