Solar Panel Cost Guide in Somerset, WI (2023 Update)
- Somerset Solar Installation Cost: $13,395
- 25-Year Savings: $22,668
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Somerset
Let's have a look at the average cost of solar in Somerset.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Somerset, the typical cost of solar panels is 2.6 per watt. To cover the typical energy usage of the average home in Somerset, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $13,395, or $19,155 before the federal solar tax credit of 30% is applied.
The true cost of your system can go higher or lower than the average in Somerset depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Somerset see about $19,000 in savings on electricity bills over 20 years.
To get a free estimate from a top solar company in Somerset, you can click the button below.
Solar savings over time in Somerset
| Year | Return on Investment |
|---|---|
| 1 years | $-11,953 |
| 3 years | $-9,068 |
| 5 years | $-6,183 |
| 7 years | $-3,298 |
| 9 years | $-413 |
| 11 years | $2,472 |
| 13 years | $5,357 |
| 15 years | $8,242 |
| 17 years | $11,127 |
| 19 years | $14,012 |
| 21 years | $16,898 |
| 23 years | $19,783 |
| 25 years | $22,668 |
Top Solar Installers in Somerset
Although you can install solar panels by yourself, it involves extra effort and know-how. That's why most people choose to go with a solar panel installer. The expertise that solar installers provide can be useful as well, particularly if you aren't sure what kind of solar equipment you need.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers in Somerset:
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 Somerset
Factors that Affect Solar Panel Costs in Somerset
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Somerset: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,600. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, extra products, like solar batteries, can bring your total well above the Somerset average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Somerset, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $18,030 | 9.7 years |
| 8 kW | $2.65 | $14,851 | $24,331 | 9.5 years |
| 10 kW | $2.60 | $18,200 | $30,778 | 9.3 years |
| 12 kW | $2.55 | $21,403 | $37,370 | 9.1 years |
| 14 kW | $2.50 | $24,461 | $44,108 | 8.9 years |
| 16 kW | $2.44 | $27,373 | $50,992 | 8.7 years |
| 18 kW | $2.39 | $30,139 | $58,021 | 8.5 years |
| 20 kW | $2.34 | $32,760 | $65,196 | 8.4 years |
How to Save on Solar Panels
There are many companies to choose from in Somerset, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline rebates and warranties.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
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 Somerset, WI Solar Cost FAQs
How much does it cost to install solar panels in Somerset?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Somerset?
Most states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Somerset?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.