Solar Panel Cost Guide in Elkhorn, WI (2024 Update)
- Elkhorn Solar Installation Cost: $19,570
- 25-Year Savings: $22,327
- Payback Period: 13.8 Years
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Average Cost of Solar Panels in Elkhorn
Let’s take a look at the average cost of solar panels in Elkhorn.
The average cost of a solar system in Elkhorn is 4 per watt.Since a 7.2-kW system is needed to cover the energy usage of a typical home in Elkhorn, the average price of going solar will be about $19,570 after claiming the federal solar tax credit of 0.
The actual price you pay can go higher or lower than the average in Elkhorn depending on a variety of factors, such as the model of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on power bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Elkhorn
| Year | Return on Investment |
|---|---|
| 1 years | $-18,275 |
| 3 years | $-15,684 |
| 5 years | $-13,093 |
| 7 years | $-10,502 |
| 9 years | $-7,911 |
| 11 years | $-5,320 |
| 13 years | $-2,729 |
| 15 years | $-138 |
| 17 years | $2,453 |
| 19 years | $5,044 |
| 21 years | $7,635 |
| 23 years | $10,226 |
| 25 years | $12,817 |
Top Solar Installers in Elkhorn
When making the switch to solar, many homeowners opt to hire a solar installer since DIY solar panel installation can be a difficult project. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
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 Elkhorn
Factors that Affect Solar Panel Costs in Elkhorn
For many Elkhorn homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Elkhorn, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your home, 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 about $3,880. The model of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.Even though solar loans make switching to solar energy more accessible for Elkhorn homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Elkhorn, and each can charge different amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $12,564 | 14.4 years |
| 8 kW | $3.96 | $22,163 | $17,186 | 14.1 years |
| 10 kW | $3.88 | $27,160 | $22,026 | 13.8 years |
| 12 kW | $3.80 | $31,940 | $27,083 | 13.5 years |
| 14 kW | $3.72 | $36,503 | $32,357 | 13.3 years |
| 16 kW | $3.65 | $40,849 | $37,848 | 13.0 years |
| 18 kW | $3.57 | $44,977 | $43,557 | 12.7 years |
| 20 kW | $3.49 | $48,888 | $49,483 | 12.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: The kind of solar panel you want plays a role in which installer you should opt for, since different companies offer different panels.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
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 Elkhorn, WI Solar Cost FAQs
How much does it cost to install solar panels in Elkhorn?
The average cost of solar panels in Elkhorn 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Elkhorn is currently $311,249, so you can look forward to a value of about $12,761 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Elkhorn is a worthwhile investment.
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 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 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.