Solar Panel Cost Guide in Erin, WI (2024 Update)
- Erin Solar Installation Cost: $19,492
- 25-Year Savings: $24,948
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Erin
Find out what the average cost of a solar system is in Erin.
The average cost of solar panels in Erin is 4 per watt.To cover the typical energy usage of the average home in Erin, most homeowners require a 7.2-kilowatt system. Using the figure above, a solar installation costs around $19,492, or $27,874 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.With typical savings of about $20,000 on utility bills over 20 years, many homeowners in Erin find installing solar panels can be quite rewarding.
You can click the button below to get connected with a top solar company in Erin that can help you get a more accurate cost estimate for your home.
Solar savings over time in Erin
| Year | Return on Investment |
|---|---|
| 1 years | $-18,196 |
| 3 years | $-15,605 |
| 5 years | $-13,014 |
| 7 years | $-10,423 |
| 9 years | $-7,832 |
| 11 years | $-5,242 |
| 13 years | $-2,651 |
| 15 years | $-60 |
| 17 years | $2,531 |
| 19 years | $5,122 |
| 21 years | $7,713 |
| 23 years | $10,304 |
| 25 years | $12,895 |
Top Solar Installers in Erin
Although you can install solar panels on your own, it involves extra energy and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, 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.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Erin
Factors that Affect Solar Panel Costs in Erin
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Erin: 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 affects the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Erin to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also result in a higher cost over time due to 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 finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Erin is the company you hire to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $14,830 | 13.3 years |
| 8 kW | $3.96 | $22,163 | $20,207 | 13.1 years |
| 10 kW | $3.88 | $27,160 | $25,802 | 12.8 years |
| 12 kW | $3.80 | $31,940 | $31,615 | 12.6 years |
| 14 kW | $3.72 | $36,503 | $37,644 | 12.3 years |
| 16 kW | $3.65 | $40,849 | $43,891 | 12.1 years |
| 18 kW | $3.57 | $44,977 | $50,355 | 11.8 years |
| 20 kW | $3.49 | $48,888 | $57,037 | 11.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Installation Process: Make sure you’re aligned with the company with regard to how the installation process will go and what you need to do before your solar panel system is installed, such as repairing your electrical system or roof.
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 Erin, WI Solar Cost FAQs
What is the average cost of installing solar panels in Erin?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Erin?
A solar panel system isn’t free in Erin, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Do solar panels increase your home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How long do solar panels last in Erin?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose 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.