Solar Panel Cost Guide in Troy, WI (2024 Update)
- Troy Solar Installation Cost: $19,998
- 25-Year Savings: $21,674
- Payback Period: 14.3 Years
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Average Cost of Solar Panels in Troy
Find out how much it might cost to make the switch to solar in Troy.
The average cost of a solar panel system in Troy is 4 per watt.To cover the typical energy usage of the average home in Troy, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $19,998, or $28,597 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Troy homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is usually good, with a net average savings of about $18,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Troy
| Year | Return on Investment |
|---|---|
| 1 years | $-18,894 |
| 3 years | $-16,685 |
| 5 years | $-14,477 |
| 7 years | $-12,268 |
| 9 years | $-10,060 |
| 11 years | $-7,851 |
| 13 years | $-5,643 |
| 15 years | $-3,434 |
| 17 years | $-1,226 |
| 19 years | $983 |
| 21 years | $3,191 |
| 23 years | $5,400 |
| 25 years | $7,608 |
Top Solar Installers in Troy
Although you can install solar panels by yourself, it requires extra labor and know-how. That's one of the reasons most people choose a solar panel installer. Solar installers offer key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to start using solar energy but still aren’t sure which solar company to go with, here are our recommendations for providers in Troy:
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Troy
Factors that Affect Solar Panel Costs in Troy
The cost of installing a solar system in Troy 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 equipment choices, financing options and the solar installer you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $3,880 per kilowatt in Troy.There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher 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 much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Troy homeowners decide to finance their solar panel systems to offset upfront costs.While solar loans make adopting solar energy more accessible for Troy homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Troy is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, there are plenty of solar installers that offer a range of services at different costs.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater 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 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 | $11,634 | 14.8 years |
| 8 kW | $3.96 | $22,163 | $15,947 | 14.5 years |
| 10 kW | $3.88 | $27,160 | $20,477 | 14.3 years |
| 12 kW | $3.80 | $31,940 | $25,224 | 14.0 years |
| 14 kW | $3.72 | $36,503 | $30,188 | 13.7 years |
| 16 kW | $3.65 | $40,849 | $35,370 | 13.4 years |
| 18 kW | $3.57 | $44,977 | $40,769 | 13.1 years |
| 20 kW | $3.49 | $48,888 | $46,385 | 12.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Even though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Troy, WI Solar Cost FAQs
What is the average cost of installing solar panels in Troy?
The average cost of solar panels in Troy 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 things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Troy?
You can’t get solar panels for free in Troy. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Does Troy have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can 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.