Solar Panel Cost Guide in Rice Lake, WI (2024 Update)
- Rice Lake Solar Installation Cost: $20,172
- 25-Year Savings: $19,882
- Payback Period: 15.1 Years
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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.
In Rice Lake, solar panels cost about 4 per watt on average.Because a 7.4-kW system is needed to cover the energy needs of a typical home in Rice Lake, the average price of going solar will be about $20,172 after claiming the federal solar tax credit of 0.
How much you pay can go higher or lower than the average in Rice Lake based on a variety of factors, such as the model of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar power is worth paying. On average Rice Lake homeowners see about $17,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Rice Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Rice Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-19,068 |
| 3 years | $-16,860 |
| 5 years | $-14,651 |
| 7 years | $-12,443 |
| 9 years | $-10,234 |
| 11 years | $-8,026 |
| 13 years | $-5,817 |
| 15 years | $-3,608 |
| 17 years | $-1,400 |
| 19 years | $809 |
| 21 years | $3,017 |
| 23 years | $5,226 |
| 25 years | $7,434 |
Top Solar Installers in Rice Lake
When switching to solar energy, many homeowners choose to go with a solar installer since handling can be a challenging project. Also, if you’d like to maximize your investment in solar energy, going with a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Rice Lake:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Rice Lake
Factors that Affect Solar Panel Costs in Rice Lake
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Rice Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects 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 brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 researching a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Rice Lake offer solar loans, which reduce the initial cost of installing solar.Though solar loans make switching to solar energy more accessible for Rice Lake homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 | $10,033 | 15.7 years |
| 8 kW | $3.96 | $22,163 | $13,812 | 15.4 years |
| 10 kW | $3.88 | $27,160 | $17,808 | 15.1 years |
| 12 kW | $3.80 | $31,940 | $22,022 | 14.8 years |
| 14 kW | $3.72 | $36,503 | $26,453 | 14.5 years |
| 16 kW | $3.65 | $40,849 | $31,101 | 14.2 years |
| 18 kW | $3.57 | $44,977 | $35,966 | 13.9 years |
| 20 kW | $3.49 | $48,888 | $41,049 | 13.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Different companies carry various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Before you sign a contract with a solar installer, make sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Rice Lake, WI Solar Cost FAQs
What is the average cost of installing solar panels in Rice Lake?
The average cost of solar panels in Rice Lake 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider 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?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Rice Lake?
On average, solar panels can last 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 amount 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.