Solar Panel Cost Guide in Twin Lakes, WI (2024 Update)
- Twin Lakes Solar Installation Cost: $18,946
- 25-Year Savings: $26,028
- Payback Period: 12.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Twin Lakes
See how much it might cost to switch to solar power in Twin Lakes.
Although the national average of solar panels is $2.66 per watt, solar panels in Twin Lakes typically cost about 4.Since a 7.0-kW system is needed to cover the energy costs of a typical home in Twin Lakes, the average price of going solar will be about $18,946 after claiming the federal solar tax credit of 0.
These figures are only averages, and your own solar costs may differ based on factors unique to your home and what company you go with.With average savings of about $21,000 on utility bills over 20 years, many homeowners in Twin Lakes find going solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in your area for a personalized quote.
Solar savings over time in Twin Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-17,713 |
| 3 years | $-15,247 |
| 5 years | $-12,782 |
| 7 years | $-10,316 |
| 9 years | $-7,851 |
| 11 years | $-5,385 |
| 13 years | $-2,920 |
| 15 years | $-454 |
| 17 years | $2,011 |
| 19 years | $4,477 |
| 21 years | $6,942 |
| 23 years | $9,408 |
| 25 years | $11,873 |
Top Solar Installers in Twin Lakes
Many homeowners choose to use a solar panel company since figuring out how to install solar panels yourself can be a lot of work. Plus, if you aren’t sure what kind of solar panels and equipment you need, a solar company can help you find the right equipment for you after a site survey and consultation.
If you’d like to go solar but still aren’t sure which solar panel company to go with, here are our suggestions for providers in Twin Lakes:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Twin Lakes
Factors that Affect Solar Panel Costs in Twin Lakes
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Twin Lakes: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Twin Lakes, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past electricity 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 prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to paying more over time because of interest.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Twin Lakes is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different costs.The size of the company sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better 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 lower 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 | $16,359 | 12.7 years |
| 8 kW | $3.96 | $22,163 | $22,247 | 12.5 years |
| 10 kW | $3.88 | $27,160 | $28,352 | 12.2 years |
| 12 kW | $3.80 | $31,940 | $34,674 | 12.0 years |
| 14 kW | $3.72 | $36,503 | $41,214 | 11.7 years |
| 16 kW | $3.65 | $40,849 | $47,971 | 11.5 years |
| 18 kW | $3.57 | $44,977 | $54,945 | 11.3 years |
| 20 kW | $3.49 | $48,888 | $62,136 | 11.0 years |
How to Save on Solar Panels
There are a large number of companies available in Twin Lakes, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type 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 peruse their list of offerings before deciding.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Twin Lakes, WI Solar Cost FAQs
What is the average cost of installing solar panels in Twin Lakes?
The average cost of solar panels in Twin Lakes 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 like the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Twin Lakes?
You can’t get solar panels for free in Twin Lakes. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,110.24 per year.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.