Solar Panel Cost Guide in Summit, WI (Feb 2023)
- Summit Solar Installation Cost: $13,140
- 25-Year Savings: $25,032
- Payback Period: 8.6 Years
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Top Solar Installers in Summit
When switching to solar energy, many homeowners choose to use a solar company since putting up solar panels yourself can be a time-consuming project. In addition, if you'd like to maximize your investment in solar energy, opting for a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
If you're searching for a solar installer in Summit, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Summit
Factors that Affect Solar Panel Costs in Summit
The cost of installing a solar system in Summit can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
When it comes to estimating the price of a solar panel system in Summit, 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 determine by looking at past electricity bills. Your overall cost can increase by around $2,600 for each additional kilowatt you need. The brand of solar panels and equipment you choose is another factor that will largely influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's important to consider that as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can impact how much it costs. Summit's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Summit have more knowledge 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||$20,346||9.0 years|
|8 kW||$2.65||$14,851||$27,419||8.8 years|
|10 kW||$2.60||$18,200||$34,638||8.6 years|
|12 kW||$2.55||$21,403||$42,003||8.4 years|
|14 kW||$2.50||$24,461||$49,513||8.3 years|
|16 kW||$2.44||$27,373||$57,168||8.1 years|
|18 kW||$2.39||$30,139||$64,970||7.9 years|
|20 kW||$2.34||$32,760||$72,917||7.8 years|
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: If you care about the longevity of your solar panel system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
EcoWatch's Summit, WI Solar Cost FAQs
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.