Solar Panel Cost Guide in Waunakee, WI (2024 Update)
- Waunakee Solar Installation Cost: $19,756
- 25-Year Savings: $24,573
- Payback Period: 13.1 Years
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Average Cost of Solar Panels in Waunakee
Find out what the average cost of installing solar panels is in Waunakee.
Although the national average of solar panels is $2.66 per watt, solar panels in Waunakee generally cost about 4.Because a 7.3-kW system is needed to cover the energy needs of a typical home in Waunakee, the average price of going solar will be about $19,756 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar system you choose, your solar contractor and more.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $20,000 over 20 years on electricity bills.
To get a free quote from a top solar company in Waunakee, you can click the button below.
Solar savings over time in Waunakee
| Year | Return on Investment |
|---|---|
| 1 years | $-18,372 |
| 3 years | $-15,603 |
| 5 years | $-12,834 |
| 7 years | $-10,066 |
| 9 years | $-7,297 |
| 11 years | $-4,528 |
| 13 years | $-1,759 |
| 15 years | $1,010 |
| 17 years | $3,779 |
| 19 years | $6,547 |
| 21 years | $9,316 |
| 23 years | $12,085 |
| 25 years | $14,854 |
Top Solar Installers in Waunakee
Although it's possible to install solar panels yourself, it involves extra effort and knowledge. That's one of the reasons most homeowners choose a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over time.
You can get a free estimate from a local solar installer on how much your investment in solar could cost 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
See all of the solar companies in Waunakee
Factors that Affect Solar Panel Costs in Waunakee
While the average cost of a solar system in Waunakee is $19,756, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $3,880 per kilowatt in Waunakee.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are available from most installers in Waunakee, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.Even though solar loans make going solar more accessible for Waunakee homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The remaining major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Waunakee, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Waunakee are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $4.04 | $16,948 | $14,241 | 13.6 years |
| 8 kW | $3.96 | $22,163 | $19,422 | 13.3 years |
| 10 kW | $3.88 | $27,160 | $24,821 | 13.1 years |
| 12 kW | $3.80 | $31,940 | $30,437 | 12.8 years |
| 14 kW | $3.72 | $36,503 | $36,270 | 12.5 years |
| 16 kW | $3.65 | $40,849 | $42,321 | 12.3 years |
| 18 kW | $3.57 | $44,977 | $48,589 | 12.0 years |
| 20 kW | $3.49 | $48,888 | $55,074 | 11.8 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you want plays a role in which installer you should choose, since different companies have access to different panels.
- Contract: Read the contract terms thoroughly to make sure you understand the total cost, project completion timeline incentives and warranties.
- Installation Process: Make sure you’re on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: If you’re worried about the durability of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Waunakee, WI Solar Cost FAQs
What is the average cost of installing solar panels in Waunakee?
This is a difficult 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 additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Waunakee?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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 home 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.