Solar Panel Cost Guide in Monona, WI (2023 Update)
- Monona Solar Installation Cost: $13,231
- 25-Year Savings: $32,192
- Payback Period: 7.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Monona
Find out what the average cost of a solar system is in Monona.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Monona, the typical cost of solar panels is 2.6 per watt. To account for the typical energy needs of the average home in Monona, most homeowners require a 7.3-kilowatt system. Using the figure above, a solar installation costs about $13,231, or $18,920 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $24,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar panel company in Monona for a personalized quote.
Solar savings over time in Monona
| Year | Return on Investment |
|---|---|
| 1 years | $-11,414 |
| 3 years | $-7,781 |
| 5 years | $-4,147 |
| 7 years | $-513 |
| 9 years | $3,121 |
| 11 years | $6,755 |
| 13 years | $10,389 |
| 15 years | $14,023 |
| 17 years | $17,657 |
| 19 years | $21,290 |
| 21 years | $24,924 |
| 23 years | $28,558 |
| 25 years | $32,192 |
Top Solar Installers in Monona
When going solar, many homeowners choose to use a solar installer since handling can be a difficult project. Plus, if you're not certain what type of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Monona, we've compiled a list of our top suggestions here:
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 Monona
Factors that Affect Solar Panel Costs in Monona
The cost of installing a solar system in Monona can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's important to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are offered by most installers in Monona, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panel system can affect your pricing. Monona's solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 decide on the company that provides the products, warranties and services you want 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 | $2.70 | $11,357 | $26,110 | 7.6 years |
| 8 kW | $2.65 | $14,851 | $35,105 | 7.4 years |
| 10 kW | $2.60 | $18,200 | $44,245 | 7.3 years |
| 12 kW | $2.55 | $21,403 | $53,531 | 7.1 years |
| 14 kW | $2.50 | $24,461 | $62,962 | 7.0 years |
| 16 kW | $2.44 | $27,373 | $72,540 | 6.8 years |
| 18 kW | $2.39 | $30,139 | $82,262 | 6.7 years |
| 20 kW | $2.34 | $32,760 | $92,130 | 6.6 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. Because picking a company can be difficult, we have some tips to help you, such as:
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Monona, WI Solar Cost FAQs
What is the average cost of installing solar panels in Monona?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Monona?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 savings from going solar.
Can you sell solar power back to the grid in Monona?
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 offer you credit toward your future utility bills.
How long do solar panels last in Monona?
Although 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 their energy production will have decreased significantly after that point. You can choose 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.