Solar Panel Cost Guide in Marshall, WI (2023 Update)
- Marshall Solar Installation Cost: $13,231
- 25-Year Savings: $24,876
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marshall
Find out what the average cost of solar panels are in Marshall.
The average cost of a solar system in Marshall is 2.6 per watt. To account for the typical energy needs of the average home in Marshall, most homeowners require a 7.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $13,231, or $18,920 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average Marshall homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Marshall find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Marshall
| Year | Return on Investment |
|---|---|
| 1 years | $-11,707 |
| 3 years | $-8,658 |
| 5 years | $-5,610 |
| 7 years | $-2,561 |
| 9 years | $487 |
| 11 years | $3,536 |
| 13 years | $6,584 |
| 15 years | $9,633 |
| 17 years | $12,682 |
| 19 years | $15,730 |
| 21 years | $18,779 |
| 23 years | $21,828 |
| 25 years | $24,876 |
Top Solar Installers in Marshall
Many homeowners choose to hire a solar installation company since trying to put up solar panels yourself can be time-consuming. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Marshall
Factors that Affect Solar Panel Costs in Marshall
For many Marshall homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Marshall, with typical prices between $20,000 to $40,000. There are various factors that significantly 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 a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,600. The solar equipment you choose can increase or decrease your cost 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, add-on products, like solar batteries, can bump up your total well above the Marshall average.
Solar Financing Terms
Most solar installers in Marshall offer solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also adds to your total costs, so it's important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Some companies only sell products with high efficiency and therefore a higher price point — 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 find a company that has the products, warranties and services you want 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 | $20,076 | 9.0 years |
| 8 kW | $2.65 | $14,851 | $27,059 | 8.9 years |
| 10 kW | $2.60 | $18,200 | $34,188 | 8.7 years |
| 12 kW | $2.55 | $21,403 | $41,462 | 8.5 years |
| 14 kW | $2.50 | $24,461 | $48,882 | 8.3 years |
| 16 kW | $2.44 | $27,373 | $56,447 | 8.2 years |
| 18 kW | $2.39 | $30,139 | $64,159 | 8.0 years |
| 20 kW | $2.34 | $32,760 | $72,015 | 7.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Review the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project 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 Marshall, WI Solar Cost FAQs
What is the average cost of installing solar panels in Marshall?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally 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 other solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Marshall?
A solar panel system isn't free in Marshall, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase the value of your home?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't go for 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."
What solar power system size is right for 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 cover 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.