Solar Panel Cost Guide in Menominee, WI (2024 Update)
- Menominee Solar Installation Cost: $19,924
- 25-Year Savings: $25,330
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Menominee
Find out what the average cost of solar panels are in Menominee.
The average cost of a solar panel system in Menominee is 4 per watt.The average Menominee homeowner needs a 7.3-kilowatt system, which would cost about $19,924 with the federal tax credit, or $28,491 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more.With average savings of about $20,000 on electricity bills over 20 years, many homeowners in Menominee find investing in solar can be quite rewarding.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Menominee
| Year | Return on Investment |
|---|---|
| 1 years | $-18,675 |
| 3 years | $-16,179 |
| 5 years | $-13,682 |
| 7 years | $-11,185 |
| 9 years | $-8,688 |
| 11 years | $-6,191 |
| 13 years | $-3,694 |
| 15 years | $-1,197 |
| 17 years | $1,300 |
| 19 years | $3,797 |
| 21 years | $6,293 |
| 23 years | $8,790 |
| 25 years | $11,287 |
Top Solar Installers in Menominee
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make switching to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
If you’d like to make the switch to solar but still aren’t sure which solar panel company to go with, here are our recommendations for providers nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 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 Menominee
Factors that Affect Solar Panel Costs in Menominee
Though the average cost of a solar system in Menominee is $19,924, your final cost may be higher or lower than that. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher 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 $3,880.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Menominee, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Menominee have solar loans, which reduce your upfront costs of installing solar panels.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 more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies in Menominee, and each can charge varying amounts for labor and equipment.You may see national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $14,690 | 13.4 years |
| 8 kW | $3.96 | $22,163 | $20,021 | 13.1 years |
| 10 kW | $3.88 | $27,160 | $25,569 | 12.9 years |
| 12 kW | $3.80 | $31,940 | $31,335 | 12.6 years |
| 14 kW | $3.72 | $36,503 | $37,317 | 12.4 years |
| 16 kW | $3.65 | $40,849 | $43,518 | 12.1 years |
| 18 kW | $3.57 | $44,977 | $49,935 | 11.8 years |
| 20 kW | $3.49 | $48,888 | $56,570 | 11.6 years |
How to Save on Solar Panels
The company that does your 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 difficult, we have some tips to help you, such as:
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 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 Menominee, WI Solar Cost FAQs
What is the average cost of installing solar panels in Menominee?
This is a tough question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or more efficient 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 other than cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Menominee is currently $225,470, so you can expect a value of about $9,244 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Menominee is a rewarding investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs 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 home 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.