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.
While the national average of solar panels is $2.66 per watt, solar panels in Salem Lakes generally cost about 4.To account for the typical energy needs 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.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Salem Lakes see about $22,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar panel company in Salem Lakes for a custom estimate.
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 involves extra labor and handiness. That's why the majority of homeowners choose to go with a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you pick which one will be best for you.
If you're on the hunt for a solar company in Salem Lakes, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 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 Salem Lakes
Factors that Affect Solar Panel Costs in Salem Lakes
For many Salem Lakes homeowners, the decision to install a solar energy system comes down to 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 several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $3,880 per kilowatt in Salem Lakes.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof 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. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid choice because they decrease your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Salem Lakes, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, 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 | $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
Since the model of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- 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 installer, such as what permits you should secure and what the project timeline is.
- Solar Panel Brands: The brand of solar panel you’d like plays a role in which company you should choose, since different companies have different panels.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 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 Salem Lakes, WI Solar Cost FAQs
What is the average cost of installing 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 real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Salem Lakes?
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 property 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 savings from going solar.
Is it worth going solar in Salem Lakes?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
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 needs 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 house 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.