Solar Panel Cost Guide in Okauchee Lake, WI (2023 Update)
- Okauchee Lake Solar Installation Cost: $13,148
- 25-Year Savings: $25,674
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Okauchee Lake
Here's how much it might cost to make the switch to solar in Okauchee Lake.
In Okauchee Lake, solar panels cost about 2.6 per watt on average. Since a 7.2-kW system is needed to cover the energy consumption of a typical home in Okauchee Lake, the average price of going solar will be about $13,140 after claiming the federal solar tax credit of 30%.
Bear in mind that the figures above are only estimates based on the average energy use of Okauchee Lake homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar is worth paying. On average Okauchee Lake homeowners see about $20,000 in savings on electricity bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Okauchee Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-13,019 |
| 3 years | $-12,760 |
| 5 years | $-12,501 |
| 7 years | $-12,242 |
| 9 years | $-11,983 |
| 11 years | $-11,725 |
| 13 years | $-11,466 |
| 15 years | $-11,207 |
| 17 years | $-10,948 |
| 19 years | $-10,689 |
| 21 years | $-10,431 |
| 23 years | $-10,172 |
| 25 years | $-9,913 |
Top Solar Installers in Okauchee Lake
Many homeowners choose to hire a solar installer since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Plus, if you're unsure what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're looking for a solar installer in Okauchee Lake, the EcoWatch team has put together a list of our top suggestions here:
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 Okauchee Lake
Factors that Affect Solar Panel Costs in Okauchee Lake
For many Okauchee Lake homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Okauchee Lake, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,600. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Okauchee Lake provide solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Okauchee Lake is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Okauchee Lake are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $20,886 | 8.8 years |
| 8 kW | $2.65 | $14,851 | $28,139 | 8.6 years |
| 10 kW | $2.60 | $18,200 | $35,538 | 8.5 years |
| 12 kW | $2.55 | $21,403 | $43,083 | 8.3 years |
| 14 kW | $2.50 | $24,461 | $50,773 | 8.1 years |
| 16 kW | $2.44 | $27,373 | $58,609 | 8.0 years |
| 18 kW | $2.39 | $30,139 | $66,590 | 7.8 years |
| 20 kW | $2.34 | $32,760 | $74,717 | 7.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you're not certain 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.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Different companies have different brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Okauchee Lake, WI Solar Cost FAQs
How much does it cost to install solar panels in Okauchee Lake?
The average cost of solar panels in Okauchee Lake 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Okauchee Lake?
A solar panel system isn't free in Okauchee Lake, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Okauchee Lake is currently $307,732, which means you could be looking at a value of about $12,617 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Okauchee Lake is a worthwhile investment.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 larger level 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.