Solar Panel Cost Guide in Summit, WI (2023 Update)
- Summit Solar Installation Cost: $13,148
- 25-Year Savings: $25,024
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Summit
Let's have a look at the average cost of solar panels in Summit.
The average cost of a solar system in Summit is 2.6 per watt. Using this figure, a typical 7.2-kW system would cost about $13,140 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy consumption and what installation company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Summit can save around $20,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Summit for a quote for your home.
Solar savings over time in Summit
| Year | Return on Investment |
|---|---|
| 1 years | $-11,853 |
| 3 years | $-9,262 |
| 5 years | $-6,671 |
| 7 years | $-4,080 |
| 9 years | $-1,489 |
| 11 years | $1,102 |
| 13 years | $3,693 |
| 15 years | $6,284 |
| 17 years | $8,875 |
| 19 years | $11,466 |
| 21 years | $14,057 |
| 23 years | $16,648 |
| 25 years | $19,239 |
Top Solar Installers in Summit
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Going with a solar panel installer can make converting to solar power much easier. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 often one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Summit: 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 for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,600. The brand of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to make decisions 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 researching a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Summit provide solar loans, which reduce the initial cost of installing solar. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can influence your pricing. Summit's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Read the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives 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 opt for.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
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
What is the average cost of installing solar panels in Summit?
The average cost of solar panels in Summit is about $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact the value of my home?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Summit is currently $302,690, which means you could be looking at a value of about $12,410 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Summit is a rewarding investment.
How long do solar panels last in Summit?
On average, the lifespan of solar panels is 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 amount 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.