Solar Panel Cost Guide in Lake Geneva, WI (2024 Update)
- Lake Geneva Solar Installation Cost: $19,570
- 25-Year Savings: $25,609
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Lake Geneva
Let’s have a look at the average cost of solar panels in Lake Geneva.
The national average cost of solar panels is $2.66 per watt, but in Lake Geneva it’s 4 per watt.Using this figure, a typical 7.2-kW system would cost about $19,570 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want, your solar contractor and more.Many homeowners find going solar is a rewarding investment. The average homeowner in Lake Geneva can save about $20,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Lake Geneva
| 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 Lake Geneva
Although it's possible to install solar panels on your own, it involves extra time and expertise. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Another great thing about choosing a reliable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you’d like to switch to solar energy but still aren’t sure which solar company to go with, here are our suggestions for providers nearby:
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 Lake Geneva
Factors that Affect Solar Panel Costs in Lake Geneva
For many Lake Geneva homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Lake Geneva, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Lake Geneva, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $3,880 for each additional kilowatt you need.The type of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, 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 searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Lake Geneva, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you select will influence your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $15,296 | 13.1 years |
| 8 kW | $3.96 | $22,163 | $20,829 | 12.9 years |
| 10 kW | $3.88 | $27,160 | $26,580 | 12.6 years |
| 12 kW | $3.80 | $31,940 | $32,547 | 12.4 years |
| 14 kW | $3.72 | $36,503 | $38,733 | 12.1 years |
| 16 kW | $3.65 | $40,849 | $45,135 | 11.9 years |
| 18 kW | $3.57 | $44,977 | $51,754 | 11.6 years |
| 20 kW | $3.49 | $48,888 | $58,591 | 11.4 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before deciding.
- Contract: It’s important to read through your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
- Installation Process: Make sure you’re on the same page with the installer with regard to 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.
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 Lake Geneva, WI Solar Cost FAQs
What is the average cost of installing solar panels in Lake Geneva?
The average cost of solar panels in Lake Geneva 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Lake Geneva?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure 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 financial benefits from going solar.
Is it worth going solar in Lake Geneva?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of 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 how much 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 account for 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.