Solar Panel Cost Guide in Waterloo, WI (2023 Update)
- Waterloo Solar Installation Cost: $13,249
- 25-Year Savings: $24,858
- Payback Period: 8.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Waterloo
Find out what the average cost of installing solar panels is in Waterloo.
The average cost of solar panels in Waterloo is 2.6 per watt. The average solar panel system size in Waterloo is around 7.3 kilowatts, meaning a cost of about $13,250 for a solar installation, or $18,948 before the 30% federal solar tax credit is applied.
These figures are only averages, and how much solar costs for you may vary based on your energy needs and what company you want to go with. Despite the large upfront cost, the average Waterloo homeowner can save about $20,000 on their energy bills over 20 years, which is one of the advantages of solar.
You can click the button below to get connected with a vetted solar company in Waterloo for a quote for your home.
Solar savings over time in Waterloo
| Year | Return on Investment |
|---|---|
| 1 years | $-11,954 |
| 3 years | $-9,363 |
| 5 years | $-6,772 |
| 7 years | $-4,181 |
| 9 years | $-1,590 |
| 11 years | $1,001 |
| 13 years | $3,592 |
| 15 years | $6,183 |
| 17 years | $8,774 |
| 19 years | $11,365 |
| 21 years | $13,956 |
| 23 years | $16,547 |
| 25 years | $19,138 |
Top Solar Installers in Waterloo
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with an installer can make switching to solar power much easier. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
If you'd like to start using solar energy but still aren't sure which solar system company to go with, here are our recommendations for providers nearby:
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 Waterloo
Factors that Affect Solar Panel Costs in Waterloo
There are a number of criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,600. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Waterloo, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Waterloo homeowners decide to finance their solar panel systems to offset upfront costs. When considering your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Waterloo, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $20,051 | 9.0 years |
| 8 kW | $2.65 | $14,851 | $27,026 | 8.9 years |
| 10 kW | $2.60 | $18,200 | $34,147 | 8.7 years |
| 12 kW | $2.55 | $21,403 | $41,413 | 8.5 years |
| 14 kW | $2.50 | $24,461 | $48,824 | 8.3 years |
| 16 kW | $2.44 | $27,373 | $56,382 | 8.2 years |
| 18 kW | $2.39 | $30,139 | $64,085 | 8.0 years |
| 20 kW | $2.34 | $32,760 | $71,933 | 7.8 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your total 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:
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
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 Waterloo, WI Solar Cost FAQs
How much does it cost to install solar panels in Waterloo?
This is a hard 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 other solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Are solar panels free in Waterloo?
You can't get solar panels for free in Waterloo. However, you may still be able to afford 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.
How much can I save on energy bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Waterloo, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know 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 house 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.