Solar Panel Cost Guide in River Falls, WI (2023 Update)
- River Falls Solar Installation Cost: $13,413
- 25-Year Savings: $21,888
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in River Falls
Let's have a look at the average cost of solar in River Falls.
In River Falls, solar panels cost about 2.6 per watt on average. The average River Falls homeowner needs a 7.4-kilowatt system, which would cost about $13,413 with the federal tax credit, or $19,181 before the 30% tax credit is applied.
How much you pay can go higher or lower than the average in River Falls based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in River Falls can save about $18,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in River Falls
| Year | Return on Investment |
|---|---|
| 1 years | $-12,001 |
| 3 years | $-9,177 |
| 5 years | $-6,353 |
| 7 years | $-3,529 |
| 9 years | $-705 |
| 11 years | $2,119 |
| 13 years | $4,944 |
| 15 years | $7,768 |
| 17 years | $10,592 |
| 19 years | $13,416 |
| 21 years | $16,240 |
| 23 years | $19,064 |
| 25 years | $21,888 |
Top Solar Installers in River Falls
Installing solar panels by yourself can be a dangerous project, which is why hiring a solar installer is a good option for many homeowners. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
If you're searching for a solar installer in River Falls, the EcoWatch team has compiled a list of our top suggestions here:
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 River Falls
Factors that Affect Solar Panel Costs in River Falls
The cost of installing a solar system in River Falls can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power production use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,600. There are many different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also cost more. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in River Falls, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. Although solar loans make switching to solar energy 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 make 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 hire to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout River Falls, and each can charge varying amounts for labor and equipment. Additionally, some companies in River Falls are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $17,395 | 9.9 years |
| 8 kW | $2.65 | $14,851 | $23,484 | 9.7 years |
| 10 kW | $2.60 | $18,200 | $29,719 | 9.5 years |
| 12 kW | $2.55 | $21,403 | $36,100 | 9.3 years |
| 14 kW | $2.50 | $24,461 | $42,626 | 9.1 years |
| 16 kW | $2.44 | $27,373 | $49,298 | 8.9 years |
| 18 kW | $2.39 | $30,139 | $56,116 | 8.7 years |
| 20 kW | $2.34 | $32,760 | $63,079 | 8.5 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
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 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 $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in River Falls?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can you sell solar power back to the grid in River Falls?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.