Solar Panel Cost Guide in Medford, WI (2023 Update)
- Medford Solar Installation Cost: $13,480
- 25-Year Savings: $24,790
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Medford
Let's take a look at the average cost of solar panels in Medford.
In Medford, solar panels cost about 2.6 per watt on average. Because a 7.4-kW system is needed to cover the energy consumption of a typical home in Medford, the average price of going solar will be about $13,486 after claiming the federal solar tax credit of 30%.
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 want, your solar contractor and more. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Medford
| Year | Return on Investment |
|---|---|
| 1 years | $-13,352 |
| 3 years | $-13,097 |
| 5 years | $-12,842 |
| 7 years | $-12,587 |
| 9 years | $-12,332 |
| 11 years | $-12,076 |
| 13 years | $-11,821 |
| 15 years | $-11,566 |
| 17 years | $-11,311 |
| 19 years | $-11,056 |
| 21 years | $-10,801 |
| 23 years | $-10,546 |
| 25 years | $-10,290 |
Top Solar Installers in Medford
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make your swap to solar power much easier. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
There are a number of 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 Medford
Factors that Affect Solar Panel Costs in Medford
For many Medford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Medford, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Medford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,600 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. Typically, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you want to install 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 a solar system in cash is too expensive, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. While solar loans make switching to solar energy more accessible for Medford homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you pick will affect your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $19,646 | 9.2 years |
| 8 kW | $2.65 | $14,851 | $26,485 | 9.0 years |
| 10 kW | $2.60 | $18,200 | $33,471 | 8.8 years |
| 12 kW | $2.55 | $21,403 | $40,601 | 8.6 years |
| 14 kW | $2.50 | $24,461 | $47,878 | 8.5 years |
| 16 kW | $2.44 | $27,373 | $55,300 | 8.3 years |
| 18 kW | $2.39 | $30,139 | $62,868 | 8.1 years |
| 20 kW | $2.34 | $32,760 | $70,581 | 7.9 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you're aligned with the installer 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 your electrical system or roof.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, project timeline incentives and warranties.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you'd like to get plays a part in which company you should choose, since different companies provide different panels.
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 Medford, WI Solar Cost FAQs
How much does it cost to install solar panels in Medford?
The average cost of solar panels in Medford 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 stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on power bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Medford, that will require at least a 10-kW system. Not all homes will have roofs that 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 long do solar panels last in Medford?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can decide to replace them after having 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.