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.
The national average cost of solar panels is $2.66 per watt, but in Waunakee it’s 4 per watt.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.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of making the switch to solar can vary quite a bit based on several factors, such as what size system you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar is worth paying. On average Waunakee homeowners see about $20,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a top solar installer in Waunakee for a quote for your home.
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
When making the switch to solar, many homeowners decide to use a solar company since installing solar panels yourself can be a difficult project. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor too, which can save you more money after your initial investment.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
See all of the solar companies in Waunakee
Factors that Affect Solar Panel Costs in Waunakee
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Waunakee: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The kind of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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 into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Waunakee to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also result in paying more over time because of interest.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’re only able to 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 remarkably.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Waunakee is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 kind of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Make sure you’re on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: If you care about the durability of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
EcoWatch's Waunakee, WI Solar Cost FAQs
What is the average cost of installing solar panels in Waunakee?
The average cost of solar panels in Waunakee is about $19,400 for a 5-kW system and $38,800 for a 10-kW system before the ITC, but the real cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Waunakee?
Leasing solar panels can be an option if you can’t 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 financial benefits from going solar.
Is it worth going solar in Waunakee?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.