Solar Panel Cost Guide in Norway, WI (2023 Update)
- Norway Solar Installation Cost: $12,714
- 25-Year Savings: $28,059
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Norway
Let's have a look at the average cost of solar panels in Norway.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Norway, the typical cost of a solar system is 2.6 per watt. Using this figure, a typical 7.0-kW system would cost about $12,722 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you choose, your solar contractor and more. With typical savings of about $22,000 on electricity bills over 20 years, many homeowners in Norway find going solar has a decent ROI.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Norway
| Year | Return on Investment |
|---|---|
| 1 years | $-12,578 |
| 3 years | $-12,306 |
| 5 years | $-12,034 |
| 7 years | $-11,763 |
| 9 years | $-11,491 |
| 11 years | $-11,219 |
| 13 years | $-10,947 |
| 15 years | $-10,675 |
| 17 years | $-10,403 |
| 19 years | $-10,132 |
| 21 years | $-9,860 |
| 23 years | $-9,588 |
| 25 years | $-9,316 |
Top Solar Installers in Norway
Many homeowners opt for a solar panel installer since installing solar panels yourself can be hard. The expertise that solar installers provide can be valuable as well, especially if you aren't sure what type of solar equipment you need.
If you'd like to switch to solar energy but still aren't certain which solar system company to go with, here are our recommendations for providers near you:
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 Norway
Factors that Affect Solar Panel Costs in Norway
The cost of installing a solar system in Norway can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation need 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 $2,600. The kind of solar equipment you choose can increase or decrease your cost 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. On the other hand, higher efficiency could save you more over time on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Norway average.
Solar Financing Terms
Many homeowners find the average cost of solar in Norway to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a part in your total costs. There are about 3 solar installation companies in Norway, and each can charge varying amounts for labor and equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $23,663 | 8.1 years |
| 8 kW | $2.65 | $14,851 | $31,842 | 8.0 years |
| 10 kW | $2.60 | $18,200 | $40,166 | 7.8 years |
| 12 kW | $2.55 | $21,403 | $48,636 | 7.6 years |
| 14 kW | $2.50 | $24,461 | $57,252 | 7.5 years |
| 16 kW | $2.44 | $27,373 | $66,013 | 7.3 years |
| 18 kW | $2.39 | $30,139 | $74,920 | 7.2 years |
| 20 kW | $2.34 | $32,760 | $83,973 | 7.0 years |
How to Save on Solar Panels
There are many companies available in Norway, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Make sure you're on the same page with the installer regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: Before you sign a contract with a solar installer, make sure you read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which installer you should choose, since different companies provide different panels.
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Norway, WI Solar Cost FAQs
What is the average cost of installing solar panels in Norway?
The average cost of solar panels in Norway is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.