Solar Panel Cost Guide in Rice Lake, WI (2023 Update)
- Rice Lake Solar Installation Cost: $13,518
- 25-Year Savings: $19,882
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rice Lake
Find out what the average cost of solar panel installation is in Rice Lake.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rice Lake, the typical cost of solar panels is 2.6 per watt. Since a 7.4-kW system is needed to cover the energy costs of a typical home in Rice Lake, the average price of going solar will be about $13,523 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Rice Lake homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $17,000 in savings on electricity bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Rice Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-13,406 |
| 3 years | $-13,184 |
| 5 years | $-12,961 |
| 7 years | $-12,738 |
| 9 years | $-12,516 |
| 11 years | $-12,293 |
| 13 years | $-12,070 |
| 15 years | $-11,848 |
| 17 years | $-11,625 |
| 19 years | $-11,402 |
| 21 years | $-11,180 |
| 23 years | $-10,957 |
| 25 years | $-10,734 |
Top Solar Installers in Rice Lake
Installing solar panels on your own can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you choose which one will be right for your home.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Rice Lake
Factors that Affect Solar Panel Costs in Rice Lake
The cost of installing a solar system in Rice Lake can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The type of solar panels and equipment you get is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Rice Lake have solar loans, which reduce your upfront costs of installing a solar system. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect the cost. Rice Lake's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,624 | 10.5 years |
| 8 kW | $2.65 | $14,851 | $21,123 | 10.3 years |
| 10 kW | $2.60 | $18,200 | $26,768 | 10.1 years |
| 12 kW | $2.55 | $21,403 | $32,559 | 9.9 years |
| 14 kW | $2.50 | $24,461 | $38,495 | 9.7 years |
| 16 kW | $2.44 | $27,373 | $44,576 | 9.5 years |
| 18 kW | $2.39 | $30,139 | $50,804 | 9.3 years |
| 20 kW | $2.34 | $32,760 | $57,177 | 9.1 years |
How to Save on Solar Panels
There are numerous companies available in Rice Lake, 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:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: Solar companies 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.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and how long the project will take.
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 Rice Lake, WI Solar Cost FAQs
What is the average cost of installing solar panels in Rice Lake?
This is a tough question to answer precisely, 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Rice Lake?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can 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 install 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.