Solar Panel Cost Guide in Summit, WI (2024 Update)
- Summit Solar Installation Cost: $19,621
- 25-Year Savings: $25,024
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Summit
We break down average solar pricing in Summit.
In Summit, solar panels cost about 4 per watt on average.The average solar panel system size in Summit is around 7.2 kilowatts, meaning a cost of about $19,621 for a solar installation, or $28,058 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of going solar can vary based on a few factors, such as what size system you need, your energy consumption and what solar installer you go with.But, after you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Summit
| Year | Return on Investment |
|---|---|
| 1 years | $-18,326 |
| 3 years | $-15,735 |
| 5 years | $-13,144 |
| 7 years | $-10,553 |
| 9 years | $-7,962 |
| 11 years | $-5,371 |
| 13 years | $-2,780 |
| 15 years | $-189 |
| 17 years | $2,402 |
| 19 years | $4,993 |
| 21 years | $7,584 |
| 23 years | $10,175 |
| 25 years | $12,766 |
Top Solar Installers in Summit
Many homeowners choose to hire a solar installer since figuring out how to install solar panels yourself can be hard. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar company too, which can save you more money after your initial investment.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our suggestions for providers near you:
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 Summit
Factors that Affect Solar Panel Costs in Summit
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Summit: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs.The kind of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Summit, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.When considering your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Summit, and each can charge varying amounts for labor and equipment.The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better 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 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 | $14,755 | 13.4 years |
| 8 kW | $3.96 | $22,163 | $20,108 | 13.1 years |
| 10 kW | $3.88 | $27,160 | $25,678 | 12.9 years |
| 12 kW | $3.80 | $31,940 | $31,466 | 12.6 years |
| 14 kW | $3.72 | $36,503 | $37,471 | 12.3 years |
| 16 kW | $3.65 | $40,849 | $43,693 | 12.1 years |
| 18 kW | $3.57 | $44,977 | $50,132 | 11.8 years |
| 20 kW | $3.49 | $48,888 | $56,789 | 11.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- 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.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
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 Summit, WI Solar Cost FAQs
How much does it cost to install solar panels in Summit?
The average cost of solar panels in Summit 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 like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Summit?
Solar panels aren’t free in Summit, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact how much my home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Summit?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.
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.