Solar Panel Cost Guide in Waterford, WI (2024 Update)
- Waterford Solar Installation Cost: $18,973
- 25-Year Savings: $27,239
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Waterford
Here’s how much it might cost to go solar in Waterford.
The average cost of a solar system in Waterford is 4 per watt.Since a 7.0-kW system is needed to cover the energy needs of a typical home in Waterford, the average price of going solar will be about $18,973 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Waterford homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Waterford find installing solar panels has a decent ROI.
To calculate your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-17,678 |
| 3 years | $-15,087 |
| 5 years | $-12,496 |
| 7 years | $-9,905 |
| 9 years | $-7,314 |
| 11 years | $-4,723 |
| 13 years | $-2,132 |
| 15 years | $459 |
| 17 years | $3,050 |
| 19 years | $5,641 |
| 21 years | $8,232 |
| 23 years | $10,823 |
| 25 years | $13,414 |
Top Solar Installers in Waterford
Trying to install solar panels by yourself can be a dangerous project, which is why using a solar installer is a good option for many homeowners. Also, companies with a high reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Waterford
Factors that Affect Solar Panel Costs in Waterford
There are a number of criteria that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of solar panels in Waterford, 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 usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $3,880 for each additional kilowatt you need.The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to consider 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 for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Waterford, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only 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 significantly.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Waterford, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $17,368 | 12.3 years |
| 8 kW | $3.96 | $22,163 | $23,591 | 12.1 years |
| 10 kW | $3.88 | $27,160 | $30,032 | 11.9 years |
| 12 kW | $3.80 | $31,940 | $36,691 | 11.6 years |
| 14 kW | $3.72 | $36,503 | $43,566 | 11.4 years |
| 16 kW | $3.65 | $40,849 | $50,659 | 11.2 years |
| 18 kW | $3.57 | $44,977 | $57,970 | 10.9 years |
| 20 kW | $3.49 | $48,888 | $65,497 | 10.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: If you’re worried about the longevity of your solar energy system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Contract: Even though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
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 Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 Waterford, WI Solar Cost FAQs
What is the average cost of installing solar panels in Waterford?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Waterford?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on electricity bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Waterford, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Waterford?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.