Solar Panel Cost Guide in River Falls, WI (2024 Update)
- River Falls Solar Installation Cost: $20,008
- 25-Year Savings: $21,894
- Payback Period: 14.2 Years
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Average Cost of Solar Panels in River Falls
Let’s take a look at the average cost of solar panels in River Falls.
Currently, the national average cost of solar panels is $2.66 per watt. However, in River Falls, the typical cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in River Falls, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $20,008, or $28,611 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of making the switch to solar can vary based on several factors, such as what size system you need, your energy consumption and what company you go with.Many homeowners find going solar is a solid investment. The average homeowner in River Falls can save around $18,000 on their power bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in River Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-18,904 |
| 3 years | $-16,696 |
| 5 years | $-14,487 |
| 7 years | $-12,279 |
| 9 years | $-10,070 |
| 11 years | $-7,862 |
| 13 years | $-5,653 |
| 15 years | $-3,445 |
| 17 years | $-1,236 |
| 19 years | $973 |
| 21 years | $3,181 |
| 23 years | $5,390 |
| 25 years | $7,598 |
Top Solar Installers in River Falls
Trying to put up solar panels on your own can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. The payback period on a solar system will vary based on factors like your location and energy use, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some nearby:
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 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 River Falls
Factors that Affect Solar Panel Costs in River Falls
Although the average cost of a solar system in River Falls is $20,008, your final cost may be higher or lower than that. There are quite a few 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 take into consideration.
Solar Equipment
When it comes to estimating the price of a solar energy system in River Falls, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $3,880 for each additional kilowatt you need.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in River Falls, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.Though solar loans make going solar more accessible for River Falls homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout River Falls, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $11,804 | 14.7 years |
| 8 kW | $3.96 | $22,163 | $16,173 | 14.5 years |
| 10 kW | $3.88 | $27,160 | $20,759 | 14.2 years |
| 12 kW | $3.80 | $31,940 | $25,563 | 13.9 years |
| 14 kW | $3.72 | $36,503 | $30,584 | 13.6 years |
| 16 kW | $3.65 | $40,849 | $35,822 | 13.3 years |
| 18 kW | $3.57 | $44,977 | $41,278 | 13.0 years |
| 20 kW | $3.49 | $48,888 | $46,951 | 12.8 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 difficult, we have some tips to help you, such as:
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what you can expect about your solar system’s energy production.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed 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
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 River Falls, WI Solar Cost FAQs
What is the average cost of installing solar panels in River Falls?
The average cost of solar panels in River Falls is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the actual cost will depend on certain factors like the model 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?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go 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 will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in River Falls is currently $375,152, so you can look forward to a value of about $15,381 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in River Falls is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.