Solar Panel Cost Guide in Twin Lakes, WI (2023 Update)
- Twin Lakes Solar Installation Cost: $12,696
- 25-Year Savings: $26,028
- Payback Period: 8.2 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Twin Lakes
Let's take a look at the average cost of solar in Twin Lakes.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Twin Lakes, the average cost of a solar system is 2.6 per watt. To cover the typical energy usage of the average home in Twin Lakes, most homeowners require a 7.0-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,704, or $18,167 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Twin Lakes homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the savings for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar installer in Twin Lakes for a quote for your home.
Solar savings over time in Twin Lakes
| Year | Return on Investment |
|---|---|
| 1 years | $-11,463 |
| 3 years | $-8,997 |
| 5 years | $-6,532 |
| 7 years | $-4,066 |
| 9 years | $-1,601 |
| 11 years | $865 |
| 13 years | $3,330 |
| 15 years | $5,796 |
| 17 years | $8,261 |
| 19 years | $10,727 |
| 21 years | $13,193 |
| 23 years | $15,658 |
| 25 years | $18,124 |
Top Solar Installers in Twin Lakes
Trying to put up solar panels yourself can be a difficult undertaking, which is why hiring a solar installer is a good option for many homeowners. The payback period on a solar system will vary based on factors like your location and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you apply for incentives available in your area.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers near you:
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 Twin Lakes
Factors that Affect Solar Panel Costs in Twin Lakes
Though the average cost of a solar system in Twin Lakes is $12,704, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,600 per kilowatt in Twin Lakes. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Twin Lakes, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Twin Lakes, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Twin Lakes have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $21,950 | 8.5 years |
| 8 kW | $2.65 | $14,851 | $29,558 | 8.4 years |
| 10 kW | $2.60 | $18,200 | $37,312 | 8.2 years |
| 12 kW | $2.55 | $21,403 | $45,211 | 8.0 years |
| 14 kW | $2.50 | $24,461 | $53,256 | 7.9 years |
| 16 kW | $2.44 | $27,373 | $61,446 | 7.7 years |
| 18 kW | $2.39 | $30,139 | $69,782 | 7.5 years |
| 20 kW | $2.34 | $32,760 | $78,264 | 7.4 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer good-quality solar panel installation and expertise.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model 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: If you're concerned about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 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 $13,000 for a 5-kW system and $26,000 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Twin Lakes?
Solar panels aren't free in Twin Lakes, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can you sell solar power back to the grid in Twin Lakes?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.