Solar Panel Cost Guide in Twin Lakes, WI (2024 Update)

Factors that Affect Solar Panel Costs in Twin Lakes

For many Twin Lakes homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Twin Lakes, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.

Solar Equipment

When it comes to estimating the cost of a solar energy system in Twin Lakes, 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 gauge by looking at past energy bills. Your overall cost can increase by around $3,880 for each additional kilowatt you need.The kind of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, 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’s in your budget.

Solar Financing Terms

Many homeowners find the average cost of solar in Twin Lakes to be too steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in higher prices over time due to interest.Although solar loans make going solar more accessible for Twin Lakes homeowners, they can also add to the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

The last key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Twin Lakes, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.