Solar Panel Cost Guide in Waunakee, WI (2023 Update)
- Waunakee Solar Installation Cost: $13,231
- 25-Year Savings: $24,580
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Waunakee
See how much it might cost to make the switch to solar in Waunakee.
The national average cost of solar panels is $2.66 per watt, but in Waunakee it's 2.6 per watt. The average Waunakee homeowner needs a 7.3-kilowatt system, which would cost about $13,231 with the federal tax credit, or $18,920 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Waunakee homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant initial cost, the average Waunakee homeowner can save about $20,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Waunakee for a quote for your home.
Solar savings over time in Waunakee
| Year | Return on Investment |
|---|---|
| 1 years | $-11,719 |
| 3 years | $-8,694 |
| 5 years | $-5,669 |
| 7 years | $-2,644 |
| 9 years | $381 |
| 11 years | $3,406 |
| 13 years | $6,431 |
| 15 years | $9,456 |
| 17 years | $12,481 |
| 19 years | $15,506 |
| 21 years | $18,530 |
| 23 years | $21,555 |
| 25 years | $24,580 |
Top Solar Installers in Waunakee
Installing solar panels by yourself can be a difficult undertaking, which is why getting a solar installer is a good option for many homeowners. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Waunakee
Factors that Affect Solar Panel Costs in Waunakee
For many Waunakee homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Waunakee, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 spend around $2,600 per kilowatt in Waunakee. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Waunakee, where sunlight isn't as 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Waunakee provide solar loans, which reduce your upfront costs of installing solar panels. However, the interest on solar loans also increases your overall costs, so it's crucial to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can play a part in determining how much you pay. Waunakee's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Waunakee know more about local solar incentives and can help you learn about 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 | $19,832 | 9.1 years |
| 8 kW | $2.65 | $14,851 | $26,734 | 8.9 years |
| 10 kW | $2.60 | $18,200 | $33,781 | 8.8 years |
| 12 kW | $2.55 | $21,403 | $40,974 | 8.6 years |
| 14 kW | $2.50 | $24,461 | $48,313 | 8.4 years |
| 16 kW | $2.44 | $27,373 | $55,797 | 8.2 years |
| 18 kW | $2.39 | $30,139 | $63,427 | 8.1 years |
| 20 kW | $2.34 | $32,760 | $71,202 | 7.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
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 Waunakee, WI Solar Cost FAQs
What is the average cost of installing solar panels in Waunakee?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly 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 consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Waunakee?
Solar panels aren't free in Waunakee, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Waunakee?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Waunakee?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.