Solar Panel Cost Guide in Oconomowoc, WI (Mar 2023)
- Oconomowoc Solar Installation Cost: $13,140
- 25-Year Savings: $23,731
- Payback Period: 8.9 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Oconomowoc
We go over average solar pricing in Oconomowoc.
While the national average of solar panels is $2.66 per watt, solar panels in Oconomowoc generally cost about 2.6. Since a 7.2-kW system is needed to cover the energy costs of a typical home in Oconomowoc, the average price of going solar will be about $13,140 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Despite the large upfront cost, the average Oconomowoc homeowner can save around $19,000 on their power bills over 20 years, which is one of the positives of solar.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oconomowoc
| Year | Return on Investment |
|---|---|
| 1 years | $-11,666 |
| 3 years | $-8,716 |
| 5 years | $-5,766 |
| 7 years | $-2,816 |
| 9 years | $133 |
| 11 years | $3,083 |
| 13 years | $6,033 |
| 15 years | $8,983 |
| 17 years | $11,932 |
| 19 years | $14,882 |
| 21 years | $17,832 |
| 23 years | $20,782 |
| 25 years | $23,731 |
Top Solar Installers in Oconomowoc
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Taking advantage of an installer can make your swap to solar power much easier. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our suggestions for providers near you:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Oconomowoc
Factors that Affect Solar Panel Costs in Oconomowoc
For many Oconomowoc homeowners, the decision to go solar 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 numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Oconomowoc, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by about $2,600 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost 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. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Oconomowoc average.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Oconomowoc homeowners decide to finance their solar panel systems to make paying for solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Oconomowoc, and each can charge varying amounts for labor and equipment. You may notice national solar installers that have lower prices because of their larger brand name and access to bulk pricing, 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 | $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 many companies available in Oconomowoc, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
- 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.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
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 real 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 apart from cost 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 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 completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,020.76 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.