Solar Panel Cost Guide in Monona, WI (2024 Update)
- Monona Solar Installation Cost: $19,756
- 25-Year Savings: $32,185
- Payback Period: 10.9 Years
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Average Cost of Solar Panels in Monona
Find out what the average cost of a solar system is in Monona.
In Monona, solar panels cost about 4 per watt on average.The average solar panel system size in Monona is around 7.3 kilowatts, meaning a cost of about $19,756 for a solar installation, or $28,251 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Monona depending on a variety of factors, such as the brand of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $24,000 over 20 years on energy bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Monona
| Year | Return on Investment |
|---|---|
| 1 years | $-18,372 |
| 3 years | $-15,603 |
| 5 years | $-12,834 |
| 7 years | $-10,066 |
| 9 years | $-7,297 |
| 11 years | $-4,528 |
| 13 years | $-1,759 |
| 15 years | $1,010 |
| 17 years | $3,779 |
| 19 years | $6,547 |
| 21 years | $9,316 |
| 23 years | $12,085 |
| 25 years | $14,854 |
Top Solar Installers in Monona
Many homeowners opt for a solar panel company since installing solar panels yourself can be a labor-intensive endeavor. Solar warranties and repairs are typically included in the cost of installation when you hire a solar contractor as well, which can save you more money over time.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Monona
Factors that Affect Solar Panel Costs in Monona
For many Monona homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Monona, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Monona, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $3,880 for each additional kilowatt you need.The kind of 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, more efficient panels could save you more in the long run on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Monona average.
Solar Financing Terms
Many homeowners find the average cost of solar in Monona to be too expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of 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 above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Monona is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also fits within 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 | $20,519 | 11.3 years |
| 8 kW | $3.96 | $22,163 | $27,794 | 11.1 years |
| 10 kW | $3.88 | $27,160 | $35,285 | 10.9 years |
| 12 kW | $3.80 | $31,940 | $42,994 | 10.7 years |
| 14 kW | $3.72 | $36,503 | $50,920 | 10.4 years |
| 16 kW | $3.65 | $40,849 | $59,064 | 10.2 years |
| 18 kW | $3.57 | $44,977 | $67,424 | 10.0 years |
| 20 kW | $3.49 | $48,888 | $76,002 | 9.8 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies offer different brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Contract: Before signing a contract with a solar installer, make sure to look it over fully 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 part breaks or malfunctions and what services you can expect from them.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the 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 Monona, WI Solar Cost FAQs
How much does it cost to install solar panels in Monona?
The average cost of solar panels in Monona is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Monona?
Solar panels aren’t free in Monona, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Monona?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Monona?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using 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.