Solar Panel Cost Guide in Raymond, WI (2023 Update)
- Raymond Solar Installation Cost: $12,714
- 25-Year Savings: $28,059
- Payback Period: 7.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Raymond
See how much it might cost to go solar in Raymond.
In Raymond, solar panels cost about 2.6 per watt on average. The average solar panel system size in Raymond 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.
How much you pay can be above or below the average in Raymond based on several factors, such as the type of solar panels you choose and the solar contractor you hire. Despite the large initial cost, the average Raymond homeowner can save about $22,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Raymond
| Year | Return on Investment |
|---|---|
| 1 years | $-11,418 |
| 3 years | $-8,827 |
| 5 years | $-6,236 |
| 7 years | $-3,646 |
| 9 years | $-1,055 |
| 11 years | $1,536 |
| 13 years | $4,127 |
| 15 years | $6,718 |
| 17 years | $9,309 |
| 19 years | $11,900 |
| 21 years | $14,491 |
| 23 years | $17,082 |
| 25 years | $19,673 |
Top Solar Installers in Raymond
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be time-consuming. Plus, if you're unsure what kind of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers in Raymond:
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
While the average cost of a solar system in Raymond is $12,722, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,600. The model of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence your pricing. Raymond's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, make 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 the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 $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 stuff such as 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?
Cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Raymond, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
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.