Solar Panel Cost Guide in Algoma, WI (2024 Update)
- Algoma Solar Installation Cost: $19,541
- 25-Year Savings: $22,946
- Payback Period: 13.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Algoma
Find out how much it might cost to go solar in Algoma.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Algoma, the typical cost of a solar system is 4 per watt.Using this figure, a typical 7.2-kW system would cost about $19,541 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Algoma homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find installing solar panels is a fruitful investment. The average homeowner in Algoma can save about $19,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar installer in Algoma that can help you get a more accurate cost estimate for your home.
Solar savings over time in Algoma
Year | Return on Investment |
---|---|
1 years | $-18,434 |
3 years | $-16,219 |
5 years | $-14,004 |
7 years | $-11,790 |
9 years | $-9,575 |
11 years | $-7,360 |
13 years | $-5,146 |
15 years | $-2,931 |
17 years | $-716 |
19 years | $1,498 |
21 years | $3,713 |
23 years | $5,927 |
25 years | $8,142 |
Top Solar Installers in Algoma
When switching to solar energy, many homeowners decide to use a solar installer since overseeing your solar installation yourself can be a challenging project. The expertise that solar installers provide can be useful as well, particularly if you don’t quite know what kind of solar equipment you need.
Working with a vetted solar installer can make going solar easier. 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 Algoma
Factors that Affect Solar Panel Costs in Algoma
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Algoma average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Algoma homeowners opt to finance their solar panel systems to offset upfront costs.However, the interest on solar loans also adds to your overall costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you get to install your solar system can play a part in determining how much it costs. Algoma’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also is within your budget.
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 | $13,108 | 14.1 years |
8 kW | $3.96 | $22,163 | $17,912 | 13.8 years |
10 kW | $3.88 | $27,160 | $22,933 | 13.6 years |
12 kW | $3.80 | $31,940 | $28,171 | 13.3 years |
14 kW | $3.72 | $36,503 | $33,627 | 13.0 years |
16 kW | $3.65 | $40,849 | $39,300 | 12.7 years |
18 kW | $3.57 | $44,977 | $45,190 | 12.5 years |
20 kW | $3.49 | $48,888 | $51,297 | 12.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
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 Algoma, WI Solar Cost FAQs
What is the average cost of installing solar panels in Algoma?
This is a tough question to answer precisely, because the cost depends on a variety of 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. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Algoma?
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 home 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 some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Algoma?
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.