Solar Panel Cost Guide in Waterford, WI (2023 Update)
- Waterford Solar Installation Cost: $12,722
- 25-Year Savings: $27,231
- Payback Period: 8.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Waterford
Find out how much it might cost to make the switch to solar in Waterford.
The average cost of solar panels in Waterford is 2.6 per watt. Because a 7.0-kW system is needed to cover the energy usage of a typical home in Waterford, the average price of going solar will be about $12,722 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you may vary based on the amount of energy your home requires and what company you want to go with. Despite the high initial cost, the average Waterford homeowner can save around $22,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a pre-vetted solar company in Waterford, you can click the button below.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,124 |
| 3 years | $-7,927 |
| 5 years | $-4,731 |
| 7 years | $-1,535 |
| 9 years | $1,661 |
| 11 years | $4,858 |
| 13 years | $8,054 |
| 15 years | $11,250 |
| 17 years | $14,446 |
| 19 years | $17,642 |
| 21 years | $20,839 |
| 23 years | $24,035 |
| 25 years | $27,231 |
Top Solar Installers in Waterford
When switching to solar energy, many homeowners choose to hire a solar installation company since DIY solar panel installation can be a challenging project. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and system component replacements.
There are a number of licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Waterford
Factors that Affect Solar Panel Costs in Waterford
Although the average cost of a solar system in Waterford is $12,722, your actual cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system 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 mainly based on your home's energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $2,600 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Waterford, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are available from most installers in Waterford, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible. Although solar loans make adopting solar energy more accessible for Waterford 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
Lastly, the company you opt for to install your solar system can influence your pricing. Waterford's solar companies all have different labor costs and add varying upcharges to equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more 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 promotion can bring their pricing down to compete with bigger names.
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 | $22,959 | 8.3 years |
| 8 kW | $2.65 | $14,851 | $30,903 | 8.1 years |
| 10 kW | $2.60 | $18,200 | $38,992 | 8.0 years |
| 12 kW | $2.55 | $21,403 | $47,228 | 7.8 years |
| 14 kW | $2.50 | $24,461 | $55,609 | 7.6 years |
| 16 kW | $2.44 | $27,373 | $64,135 | 7.5 years |
| 18 kW | $2.39 | $30,139 | $72,807 | 7.3 years |
| 20 kW | $2.34 | $32,760 | $81,625 | 7.2 years |
How to Save on Solar Panels
There are a lot of companies available in Waterford, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
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 Waterford, WI Solar Cost FAQs
What is the average cost of installing solar panels in Waterford?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Waterford?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to 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 amount 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.