Solar Panel Cost Guide in Menomonie, WI (2024 Update)
- Menomonie Solar Installation Cost: $20,075
- 25-Year Savings: $22,273
- Payback Period: 14.0 Years
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Average Cost of Solar Panels in Menomonie
We go over average solar pricing in Menomonie.
The national average cost of solar panels is $2.66 per watt, but in Menomonie it’s 4 per watt.Using this figure, a typical 7.4-kW system would cost about $20,075 before the 0 federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Menomonie based on a few factors, such as the model of solar panels you choose and the solar installer you hire.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Menomonie can save around $18,000 on their electricity bills over 20 years.
To get a free quote from a vetted solar installation company in Menomonie, you can click the button below.
Solar savings over time in Menomonie
| Year | Return on Investment |
|---|---|
| 1 years | $-18,971 |
| 3 years | $-16,762 |
| 5 years | $-14,554 |
| 7 years | $-12,345 |
| 9 years | $-10,137 |
| 11 years | $-7,928 |
| 13 years | $-5,720 |
| 15 years | $-3,511 |
| 17 years | $-1,302 |
| 19 years | $906 |
| 21 years | $3,115 |
| 23 years | $5,323 |
| 25 years | $7,532 |
Top Solar Installers in Menomonie
When going solar, many homeowners opt to use a solar installer since installing solar panels yourself can be a challenging project. The expertise that solar installers offer can be valuable as well, especially if you don’t quite know what kind of solar equipment would be right for your home.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Menomonie
Factors that Affect Solar Panel Costs in Menomonie
For many Menomonie homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Menomonie, 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
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,880 per kilowatt in Menomonie.The model of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about 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 into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Menomonie to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.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 considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence the cost. Menomonie’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $4.04 | $16,948 | $12,052 | 14.6 years |
| 8 kW | $3.96 | $22,163 | $16,504 | 14.3 years |
| 10 kW | $3.88 | $27,160 | $21,173 | 14.0 years |
| 12 kW | $3.80 | $31,940 | $26,060 | 13.8 years |
| 14 kW | $3.72 | $36,503 | $31,163 | 13.5 years |
| 16 kW | $3.65 | $40,849 | $36,484 | 13.2 years |
| 18 kW | $3.57 | $44,977 | $42,023 | 12.9 years |
| 20 kW | $3.49 | $48,888 | $47,778 | 12.6 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: If you’re worried about the longevity of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Installation Process: When making the switch to solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project completion timeline.
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 Menomonie, WI Solar Cost FAQs
What is the average cost of installing solar panels in Menomonie?
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 more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Menomonie?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is it worth going solar in Menomonie?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had 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.