Solar Panel Cost Guide in Salem Lakes, WI (2024 Update)
- Salem Lakes Solar Installation Cost: $18,946
- 25-Year Savings: $27,166
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Salem Lakes
Let’s have a look at the average cost of solar in Salem Lakes.
The average cost of a solar system in Salem Lakes is 4 per watt.To cover the typical energy usage of the average home in Salem Lakes, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $18,946, or $27,093 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more.Despite the significant upfront cost, the average Salem Lakes homeowner can save about $22,000 on their power bills over 20 years, which is one of the positives of solar.
To get a free estimate from a top solar installer in Salem Lakes, you can click the button below.
Solar savings over time in Salem Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-17,650 |
| 3 years | $-15,059 |
| 5 years | $-12,468 |
| 7 years | $-9,877 |
| 9 years | $-7,286 |
| 11 years | $-4,695 |
| 13 years | $-2,104 |
| 15 years | $487 |
| 17 years | $3,078 |
| 19 years | $5,669 |
| 21 years | $8,260 |
| 23 years | $10,851 |
| 25 years | $13,441 |
Top Solar Installers in Salem Lakes
Although you can install solar panels on your own, it requires extra energy and handiness. That's why the majority of homeowners choose a solar panel installer. Plus, if you’re unsure what brand of solar panels and equipment you may need, a solar expert can help you figure that out after a site survey and consultation.
You can work with a local solar installer to get a free estimate on how much solar panels 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 Salem Lakes
Factors that Affect Solar Panel Costs in Salem Lakes
For many Salem Lakes homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Salem Lakes, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
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 important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Salem Lakes homeowners choose to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Salem Lakes, you’ll have many options to choose from, but each comes at various price points for labor and equipment.The company’s size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $17,339 | 12.4 years |
| 8 kW | $3.96 | $22,163 | $23,553 | 12.1 years |
| 10 kW | $3.88 | $27,160 | $29,985 | 11.9 years |
| 12 kW | $3.80 | $31,940 | $36,634 | 11.6 years |
| 14 kW | $3.72 | $36,503 | $43,500 | 11.4 years |
| 16 kW | $3.65 | $40,849 | $50,583 | 11.2 years |
| 18 kW | $3.57 | $44,977 | $57,884 | 10.9 years |
| 20 kW | $3.49 | $48,888 | $65,401 | 10.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Contract: It’s important to look over your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Salem Lakes, WI Solar Cost FAQs
How much does it cost to install solar panels in Salem Lakes?
The average cost of solar panels in Salem Lakes 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 stuff like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Salem Lakes?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Salem Lakes?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size 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 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.