Solar Panel Cost Guide in Monroe, WI (Jan 2023)
- Monroe Solar Installation Cost: $13,177
- 25-Year Savings: $22,424
- Payback Period: 9.2 Years
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Top Solar Installers in Monroe
Many homeowners decide to use a solar panel company since installing solar panels on your own can be challenging. The payback period on a solar system will vary based on factors like your roof configuration and energy needs, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Monroe:
See all of the solar companies in Monroe
Factors that Affect Solar Panel Costs in Monroe
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Monroe: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,600. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Monroe average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable choice because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Monroe, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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||$18,158||9.6 years|
|8 kW||$2.65||$14,851||$24,501||9.4 years|
|10 kW||$2.60||$18,200||$30,991||9.2 years|
|12 kW||$2.55||$21,403||$37,625||9.1 years|
|14 kW||$2.50||$24,461||$44,406||8.9 years|
|16 kW||$2.44||$27,373||$51,332||8.7 years|
|18 kW||$2.39||$30,139||$58,404||8.5 years|
|20 kW||$2.34||$32,760||$65,621||8.3 years|
How to Save on Solar Panels
The solar company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, including:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you're considering has it.
EcoWatch's Monroe, WI Solar Cost FAQs
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.