Solar Panel Cost Guide in Mayville, WI (2023 Update)
- Mayville Solar Installation Cost: $13,249
- 25-Year Savings: $25,474
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mayville
Let's have a look at the average cost of solar panels in Mayville.
The national average cost of solar panels is $2.66 per watt, but in Mayville it's 2.6 per watt. The average Mayville homeowner needs a 7.3-kilowatt system, which would cost about $13,250 with the federal tax credit, or $18,948 before the 30% tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Mayville homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically good, with a net average savings of about $20,000 over 20 years on utility bills.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mayville
| Year | Return on Investment |
|---|---|
| 1 years | $-11,953 |
| 3 years | $-9,362 |
| 5 years | $-6,771 |
| 7 years | $-4,180 |
| 9 years | $-1,589 |
| 11 years | $1,002 |
| 13 years | $3,593 |
| 15 years | $6,184 |
| 17 years | $8,775 |
| 19 years | $11,366 |
| 21 years | $13,957 |
| 23 years | $16,548 |
| 25 years | $19,139 |
Top Solar Installers in Mayville
Although you can install solar panels on your own, it involves extra labor and handiness. That's one of the reasons most homeowners choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for your home.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Mayville
Factors that Affect Solar Panel Costs in Mayville
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Mayville: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Mayville, one of the most important 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 figure out by looking at past power bills. Your overall cost can increase by around $2,600 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Mayville homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of financing options, including the amount of 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar energy. Different companies will bill 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 decide on the company that has 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 | $20,560 | 8.9 years |
| 8 kW | $2.65 | $14,851 | $27,705 | 8.7 years |
| 10 kW | $2.60 | $18,200 | $34,995 | 8.6 years |
| 12 kW | $2.55 | $21,403 | $42,431 | 8.4 years |
| 14 kW | $2.50 | $24,461 | $50,012 | 8.2 years |
| 16 kW | $2.44 | $27,373 | $57,739 | 8.0 years |
| 18 kW | $2.39 | $30,139 | $65,612 | 7.9 years |
| 20 kW | $2.34 | $32,760 | $73,630 | 7.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company 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 things to keep in mind to help with your decision:
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Make sure you're on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
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 Mayville, WI Solar Cost FAQs
What is the average cost of installing solar panels in Mayville?
The average cost of solar panels in Mayville is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Mayville?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,063.90 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.