Solar Panel Cost Guide in Raymond, WI (2024 Update)
- Raymond Solar Installation Cost: $18,973
- 25-Year Savings: $28,059
- Payback Period: 11.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Raymond
Find out what the average cost of solar panel installation is in Raymond.
Although the national average of solar panels is $2.66 per watt, solar panels in Raymond generally cost around 4.To cover the typical energy needs of the average home in Raymond, most homeowners require a 7.0-kilowatt system. Using the figure above, a solar installation costs about $18,973, or $27,131 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want, your solar contractor and more.Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Raymond can save about $22,000 on their electricity bills over 20 years.
To see your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Raymond
Year | Return on Investment |
---|---|
1 years | $-17,678 |
3 years | $-15,087 |
5 years | $-12,496 |
7 years | $-9,905 |
9 years | $-7,314 |
11 years | $-4,723 |
13 years | $-2,132 |
15 years | $459 |
17 years | $3,050 |
19 years | $5,641 |
21 years | $8,232 |
23 years | $10,823 |
25 years | $13,414 |
Top Solar Installers in Raymond
When making the switch to solar, many homeowners prefer to use a solar company since putting up solar panels yourself can be a challenging project. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for you.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Raymond
Factors that Affect Solar Panel Costs in Raymond
There are many criteria that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Raymond, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. 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 Raymond to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of clean energy solutions in Raymond, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger 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 | $18,072 | 12.1 years |
8 kW | $3.96 | $22,163 | $24,531 | 11.9 years |
10 kW | $3.88 | $27,160 | $31,206 | 11.6 years |
12 kW | $3.80 | $31,940 | $38,099 | 11.4 years |
14 kW | $3.72 | $36,503 | $45,210 | 11.2 years |
16 kW | $3.65 | $40,849 | $52,538 | 10.9 years |
18 kW | $3.57 | $44,977 | $60,082 | 10.7 years |
20 kW | $3.49 | $48,888 | $67,845 | 10.5 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should take into account, such as:
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Warranty: If you’re concerned about the durability of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When looking through your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Raymond, WI Solar Cost FAQs
What is the average cost of installing solar panels in Raymond?
The average cost of solar panels in Raymond is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the real cost will depend on stuff 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 Raymond?
You can’t get solar panels for free in Raymond. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Raymond?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.