Solar Panel Cost Guide in Manitowoc, WI (2023 Update)
- Manitowoc Solar Installation Cost: $12,485
- 25-Year Savings: $20,174
- Payback Period: 9.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Manitowoc
We go over average solar pricing in Manitowoc.
While the national average of solar panels is $2.66 per watt, solar panels in Manitowoc typically cost about 2.6. The average Manitowoc homeowner needs a 6.9-kilowatt system, which would cost about $12,485 with the federal tax credit, or $17,854 before the 30% tax credit is applied.
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 solar panels you want, your solar contractor and more. Despite the high upfront cost, the average Manitowoc homeowner can save about $18,000 on their power bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar company in Manitowoc for a custom estimate.
Solar savings over time in Manitowoc
| Year | Return on Investment |
|---|---|
| 1 years | $-11,179 |
| 3 years | $-8,566 |
| 5 years | $-5,953 |
| 7 years | $-3,341 |
| 9 years | $-728 |
| 11 years | $1,885 |
| 13 years | $4,498 |
| 15 years | $7,111 |
| 17 years | $9,723 |
| 19 years | $12,336 |
| 21 years | $14,949 |
| 23 years | $17,562 |
| 25 years | $20,174 |
Top Solar Installers in Manitowoc
When going solar, many homeowners opt to hire a solar installer since handling can be a challenging project. Another upside of utilizing a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Manitowoc
Factors that Affect Solar Panel Costs in Manitowoc
For many Manitowoc homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Manitowoc, 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 size of the solar system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,600. There are several different solar panel brands and the one you choose also affects the cost. Usually, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you only 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 in cash is difficult, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, 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 more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a part in determining how much it costs. Manitowoc's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by offering 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 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 | $2.70 | $11,357 | $17,198 | 9.9 years |
| 8 kW | $2.65 | $14,851 | $23,222 | 9.8 years |
| 10 kW | $2.60 | $18,200 | $29,391 | 9.6 years |
| 12 kW | $2.55 | $21,403 | $35,706 | 9.4 years |
| 14 kW | $2.50 | $24,461 | $42,167 | 9.2 years |
| 16 kW | $2.44 | $27,373 | $48,773 | 9.0 years |
| 18 kW | $2.39 | $30,139 | $55,525 | 8.8 years |
| 20 kW | $2.34 | $32,760 | $62,422 | 8.6 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on repairs and maintenance.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Manitowoc, WI Solar Cost FAQs
How much does it cost to install solar panels in Manitowoc?
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 cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Manitowoc?
Leasing solar panels can be an option if you are unable to pay upfront or secure 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 much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Manitowoc, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.