Solar Panel Cost Guide in Racine, WI (Mar 2023)
- Racine Solar Installation Cost: $12,722
- 25-Year Savings: $28,051
- Payback Period: 7.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Racine
Find out what the average cost of solar panel installation is in Racine.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Racine, the average cost of solar panels is 2.6 per watt. The average solar panel system size in Racine is around 7.0 kilowatts, meaning a cost of about $12,722 for a solar installation, or $18,192 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what solar installer you go with. For most homeowners, the upfront cost of solar power is worth paying. On average Racine homeowners see about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Racine
| Year | Return on Investment |
|---|---|
| 1 years | $-11,091 |
| 3 years | $-7,829 |
| 5 years | $-4,567 |
| 7 years | $-1,305 |
| 9 years | $1,956 |
| 11 years | $5,218 |
| 13 years | $8,480 |
| 15 years | $11,742 |
| 17 years | $15,004 |
| 19 years | $18,266 |
| 21 years | $21,528 |
| 23 years | $24,789 |
| 25 years | $28,051 |
Top Solar Installers in Racine
When switching to solar energy, many homeowners prefer to go with a solar installer since putting up a solar system yourself can be a challenging project. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for your family.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers nearby:
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 Racine
Factors that Affect Solar Panel Costs in Racine
Even though the average cost of a solar system in Racine is $12,722, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Racine, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $2,600 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Racine, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Racine to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in paying more over time because of interest. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Racine is the company you hire to install your solar panel system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points. Additionally, some companies in Racine are more knowledgeable about local solar incentives and can help you learn about 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 | $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
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 a challenge, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
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 Racine, WI Solar Cost FAQs
How much does it cost to install solar panels in Racine?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for 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 a solar system."
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 average daily 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.