Solar Panel Cost Guide in Oconomowoc, WI (2023 Update)
- Oconomowoc Solar Installation Cost: $13,148
- 25-Year Savings: $23,723
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Oconomowoc
Find out what the average cost of solar panel installation is in Oconomowoc.
In Oconomowoc, solar panels cost about 2.6 per watt on average. Using this figure, a typical 7.2-kW system would cost about $13,140 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Oconomowoc based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire. Many homeowners find installing solar panels is a sound investment. The average homeowner in Oconomowoc can save around $19,000 on their electricity bills over 20 years.
Click the button below to get connected to a highly rated solar installer in Oconomowoc for a customized estimate.
Solar savings over time in Oconomowoc
| Year | Return on Investment |
|---|---|
| 1 years | $-11,853 |
| 3 years | $-9,262 |
| 5 years | $-6,671 |
| 7 years | $-4,080 |
| 9 years | $-1,489 |
| 11 years | $1,102 |
| 13 years | $3,693 |
| 15 years | $6,284 |
| 17 years | $8,875 |
| 19 years | $11,466 |
| 21 years | $14,057 |
| 23 years | $16,648 |
| 25 years | $19,239 |
Top Solar Installers in Oconomowoc
When switching to solar energy, many homeowners opt to go with a solar installer since installing solar panels yourself can be a challenging project. Companies can also offer access to quality options of the best solar panels and help you decide which one will be best for your home.
If you'd like to make the switch to solar but still aren't certain which solar company to go with, here are our suggestions for providers in Oconomowoc:
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 Oconomowoc
Factors that Affect Solar Panel Costs in Oconomowoc
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Oconomowoc: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Oconomowoc to be too costly, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in higher prices over time due to interest. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Oconomowoc are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $19,266 | 9.3 years |
| 8 kW | $2.65 | $14,851 | $25,979 | 9.1 years |
| 10 kW | $2.60 | $18,200 | $32,838 | 8.9 years |
| 12 kW | $2.55 | $21,403 | $39,843 | 8.7 years |
| 14 kW | $2.50 | $24,461 | $46,993 | 8.6 years |
| 16 kW | $2.44 | $27,373 | $54,288 | 8.4 years |
| 18 kW | $2.39 | $30,139 | $61,729 | 8.2 years |
| 20 kW | $2.34 | $32,760 | $69,316 | 8.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: If you're concerned about the durability of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Contract: Even though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Not all solar installers 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 hire.
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 Oconomowoc, WI Solar Cost FAQs
How much does it cost to install solar panels in Oconomowoc?
The average cost of solar panels in Oconomowoc 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 certain factors like the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities 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.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Oconomowoc, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.