Solar Panel Cost Guide in Minocqua, WI (2024 Update)
- Minocqua Solar Installation Cost: $20,481
- 25-Year Savings: $24,017
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Minocqua
We break down average solar pricing in Minocqua.
The national average cost of solar panels is $2.66 per watt, but in Minocqua it’s 4 per watt.Using this figure, a typical 7.5-kW system would cost about $20,481 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with.Many homeowners find going solar is a solid investment. The average homeowner in Minocqua can save about $19,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Minocqua for a custom estimate.
Solar savings over time in Minocqua
| Year | Return on Investment |
|---|---|
| 1 years | $-19,363 |
| 3 years | $-17,127 |
| 5 years | $-14,891 |
| 7 years | $-12,655 |
| 9 years | $-10,419 |
| 11 years | $-8,183 |
| 13 years | $-5,947 |
| 15 years | $-3,711 |
| 17 years | $-1,475 |
| 19 years | $761 |
| 21 years | $2,997 |
| 23 years | $5,233 |
| 25 years | $7,469 |
Top Solar Installers in Minocqua
Installing solar panels yourself can be a difficult task, which is why hiring a solar installer is a good option for many homeowners. The payback period on a solar system will vary depending on factors like your location and energy consumption, but working with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Minocqua
Factors that Affect Solar Panel Costs in Minocqua
The cost of installing a solar system in Minocqua can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $3,880 per kilowatt in Minocqua.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Minocqua average.
Solar Financing Terms
Most solar installers in Minocqua provide solar loans, which reduce the initial cost of installing solar panels.However, the interest on solar loans also increases your total costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Minocqua is the company you choose to install your solar system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different costs.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment 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 | $4.04 | $16,948 | $13,081 | 14.1 years |
| 8 kW | $3.96 | $22,163 | $17,876 | 13.8 years |
| 10 kW | $3.88 | $27,160 | $22,889 | 13.6 years |
| 12 kW | $3.80 | $31,940 | $28,118 | 13.3 years |
| 14 kW | $3.72 | $36,503 | $33,565 | 13.0 years |
| 16 kW | $3.65 | $40,849 | $39,229 | 12.8 years |
| 18 kW | $3.57 | $44,977 | $45,111 | 12.5 years |
| 20 kW | $3.49 | $48,888 | $51,209 | 12.2 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The type of solar panel you’d like plays a part in which company you should choose, since different companies have access to different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Minocqua, WI Solar Cost FAQs
How much does it cost to install solar panels in Minocqua?
This is a tough question to answer precisely, 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Minocqua?
Leasing solar panels can be an appealing choice, because it commonly 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 tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,000.97 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.