Solar Panel Cost Guide in Shorewood, WI (2023 Update)
- Shorewood Solar Installation Cost: $12,503
- 25-Year Savings: $28,270
- Payback Period: 7.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Shorewood
See how much it might cost to make the switch to solar in Shorewood.
The average cost of a solar panel system in Shorewood is 2.6 per watt. The average solar panel system size in Shorewood is around 6.9 kilowatts, meaning a cost of about $12,503 for a solar installation, or $17,879 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of equipment you want to get, your solar contractor and more. But, after you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $23,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Shorewood
| Year | Return on Investment |
|---|---|
| 1 years | $-10,872 |
| 3 years | $-7,611 |
| 5 years | $-4,349 |
| 7 years | $-1,087 |
| 9 years | $2,175 |
| 11 years | $5,437 |
| 13 years | $8,699 |
| 15 years | $11,960 |
| 17 years | $15,222 |
| 19 years | $18,484 |
| 21 years | $21,746 |
| 23 years | $25,008 |
| 25 years | $28,270 |
Top Solar Installers in Shorewood
Putting up solar panels yourself can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. 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.
If you're searching for a solar company in Shorewood, we've put together 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 Shorewood
Factors that Affect Solar Panel Costs in Shorewood
Though the average cost of a solar system in Shorewood is $12,503, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
When it comes to estimating the cost of solar panels in Shorewood, one of the most important 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 consumption, which you can figure out by looking at past power bills. Your overall cost can increase by around $2,600 for each additional kilowatt you need. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are an affordable route because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years. Though solar loans make switching to solar energy more accessible for Shorewood homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final key cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Shorewood, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. You may come across national solar installers that have lower prices because of 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 | $2.70 | $11,357 | $24,270 | 8.0 years |
| 8 kW | $2.65 | $14,851 | $32,652 | 7.8 years |
| 10 kW | $2.60 | $18,200 | $41,179 | 7.7 years |
| 12 kW | $2.55 | $21,403 | $49,851 | 7.5 years |
| 14 kW | $2.50 | $24,461 | $58,669 | 7.4 years |
| 16 kW | $2.44 | $27,373 | $67,633 | 7.2 years |
| 18 kW | $2.39 | $30,139 | $76,743 | 7.0 years |
| 20 kW | $2.34 | $32,760 | $85,998 | 6.9 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies have different brands and types of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
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 Shorewood, WI Solar Cost FAQs
What is the average cost of installing solar panels in Shorewood?
The average cost of solar panels in Shorewood is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Shorewood?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The drawback 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 maximize your savings.
Is it worth going solar in Shorewood?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.