Solar Panel Cost Guide in Medford, WI (2024 Update)
- Medford Solar Installation Cost: $20,116
- 25-Year Savings: $24,790
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Medford
See how much it might cost to go solar in Medford.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Medford, the typical cost of a solar system is 4 per watt.Using this figure, a typical 7.4-kW system would cost about $20,116 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more.Many homeowners find going solar is a solid investment. The average homeowner in Medford can save about $20,000 on their energy bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Medford
| Year | Return on Investment |
|---|---|
| 1 years | $-19,012 |
| 3 years | $-16,803 |
| 5 years | $-14,595 |
| 7 years | $-12,386 |
| 9 years | $-10,178 |
| 11 years | $-7,969 |
| 13 years | $-5,760 |
| 15 years | $-3,552 |
| 17 years | $-1,343 |
| 19 years | $865 |
| 21 years | $3,074 |
| 23 years | $5,282 |
| 25 years | $7,491 |
Top Solar Installers in Medford
Many homeowners opt for a solar panel company since installing solar panels by yourself can be a lot of work. Also, companies with a good reputation that cost more upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're on the hunt for a solar company in Medford, the EcoWatch team has put together a list of our top suggestions here:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Medford
Factors that Affect Solar Panel Costs in Medford
There are many criteria that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use 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 $3,880.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Medford, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
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 Medford homeowners choose 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 total interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced 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 decide on the company that provides the products, warranties and services you want and also fit into 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 | $4.04 | $16,948 | $14,054 | 13.7 years |
| 8 kW | $3.96 | $22,163 | $19,174 | 13.4 years |
| 10 kW | $3.88 | $27,160 | $24,511 | 13.1 years |
| 12 kW | $3.80 | $31,940 | $30,064 | 12.9 years |
| 14 kW | $3.72 | $36,503 | $35,836 | 12.6 years |
| 16 kW | $3.65 | $40,849 | $41,824 | 12.4 years |
| 18 kW | $3.57 | $44,977 | $48,030 | 12.1 years |
| 20 kW | $3.49 | $48,888 | $54,453 | 11.8 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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 panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Medford, WI Solar Cost FAQs
What is the average cost of installing solar panels in Medford?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Medford?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Medford?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.