Solar Panel Cost Guide in New Richmond, WI (2024 Update)

  • New Richmond Solar Installation Cost: $19,998
  • 25-Year Savings: $21,357
  • Payback Period: 14.4 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New Richmond

We go over average solar pricing in New Richmond.

In New Richmond, solar panels cost about 4 per watt on average.Using this figure, a typical 7.4-kW system would cost about $19,998 before the 0 federal solar tax credit is applied.

Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar is worth paying. On average you could be looking at about $18,000 in savings on electricity bills over 20 years.

To see your potential ROI and connect with a local solar expert, click the button below.

Solar savings over time in New Richmond

Year Return on Investment
1 years $-18,894
3 years $-16,685
5 years $-14,477
7 years $-12,268
9 years $-10,060
11 years $-7,851
13 years $-5,643
15 years $-3,434
17 years $-1,226
19 years $983
21 years $3,191
23 years $5,400
25 years $7,608

Top Solar Installers in New Richmond

Trying to install solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Another good thing about going with a top solar installer is that it'll likely provide warranties and free repairs, which help protect your solar investment.

If you're searching for a solar installer in New Richmond, the EcoWatch team has put together a list of our top suggestions here:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • 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 New Richmond

Factors that Affect Solar Panel Costs in New Richmond

There are a number of criteria that can affect your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.

Solar Equipment

The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,880.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many New Richmond homeowners choose to finance their solar panel systems to make paying for solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.

Solar Panel Installation Company

The solar panel installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also is 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 $11,375 15.0 years
8 kW $3.96 $22,163 $15,601 14.7 years
10 kW $3.88 $27,160 $20,045 14.4 years
12 kW $3.80 $31,940 $24,706 14.1 years
14 kW $3.72 $36,503 $29,584 13.8 years
16 kW $3.65 $40,849 $34,679 13.5 years
18 kW $3.57 $44,977 $39,992 13.2 years
20 kW $3.49 $48,888 $45,522 12.9 years

How to Save on Solar Panels

There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
  • Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
  • Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
  • Contract: Before you sign a contract with a solar installer, make sure to look it over 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 part breaks or malfunctions and if there are any guarantees about energy production.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.0

  • 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

★★★★★
4.0

  • Expansive service area
  • Makes charitable contributions
  • Certified B Corp
  • No leases or PPAs
  • Quality of installation may vary by location

EcoWatch's New Richmond, WI Solar Cost FAQs

What is the average cost of installing solar panels in New Richmond?

This is a hard question to answer precisely, because the cost depends on a variety of factors. Generally 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 cost more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.

Is cost the most important thing to consider when buying solar panels?

The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Does New Richmond have a net metering program?

Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future power bills.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.

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