Solar Panel Cost Guide in Oconomowoc, WI (2024 Update)
- Oconomowoc Solar Installation Cost: $19,621
- 25-Year Savings: $23,723
- Payback Period: 13.3 Years
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Average Cost of Solar Panels in Oconomowoc
Find out what the average cost of installing solar panels is in Oconomowoc.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oconomowoc, the average cost of a solar system is 4 per watt.The average solar panel system size in Oconomowoc is around 7.2 kilowatts, meaning a cost of about $19,621 for a solar installation, or $28,058 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Oconomowoc homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Oconomowoc
| Year | Return on Investment |
|---|---|
| 1 years | $-18,326 |
| 3 years | $-15,735 |
| 5 years | $-13,144 |
| 7 years | $-10,553 |
| 9 years | $-7,962 |
| 11 years | $-5,371 |
| 13 years | $-2,780 |
| 15 years | $-189 |
| 17 years | $2,402 |
| 19 years | $4,993 |
| 21 years | $7,584 |
| 23 years | $10,175 |
| 25 years | $12,766 |
Top Solar Installers in Oconomowoc
When going solar, many homeowners opt to use a solar installer since putting up a solar system yourself can be a challenging project. The payback period of solar panels will vary depending on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our suggestions for providers near you:
Best National Provider
SunPower
- 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
- 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
- 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
For many Oconomowoc homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Oconomowoc, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $3,880. The brand and kind of equipment you want for your solar system can raise or lower 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 a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater 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
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Oconomowoc homeowners opt to finance their solar panel systems to make going solar more affordable.Although solar loans make adopting solar energy more accessible for Oconomowoc homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Oconomowoc is the company you hire to install your PV system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may see national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $13,675 | 13.8 years |
| 8 kW | $3.96 | $22,163 | $18,668 | 13.6 years |
| 10 kW | $3.88 | $27,160 | $23,878 | 13.3 years |
| 12 kW | $3.80 | $31,940 | $29,306 | 13.0 years |
| 14 kW | $3.72 | $36,503 | $34,950 | 12.8 years |
| 16 kW | $3.65 | $40,849 | $40,812 | 12.5 years |
| 18 kW | $3.57 | $44,977 | $46,892 | 12.2 years |
| 20 kW | $3.49 | $48,888 | $53,188 | 12.0 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Solar Panel Brands: The brand of solar panel you need to get plays a part in which company you should choose, since different companies have access to different panels.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
Best National Provider
SunPower
- 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
- 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
- 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 $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Oconomowoc?
A solar panel system isn’t free in Oconomowoc, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Oconomowoc?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power 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 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 get between 20 and 35 panels to account for 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.