Solar Panel Cost Guide in Rice Lake, WI (2024 Update)
- Rice Lake Solar Installation Cost: $20,172
- 25-Year Savings: $19,882
- Payback Period: 15.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Rice Lake
Find out what the average cost of solar panel installation is in Rice Lake.
The average cost of solar panels in Rice Lake is 4 per watt.Since a 7.4-kW system is needed to cover the energy costs of a typical home in Rice Lake, the average price of going solar will be about $20,172 after claiming the federal solar tax credit of 0.
How much you pay can be higher or lower than the average in Rice Lake depending on several factors, such as the brand of solar panels you choose and the solar contractor you hire.With typical savings of about $17,000 on power bills over 20 years, many homeowners in Rice Lake find going solar has a decent ROI.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Rice Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-19,068 |
| 3 years | $-16,860 |
| 5 years | $-14,651 |
| 7 years | $-12,443 |
| 9 years | $-10,234 |
| 11 years | $-8,026 |
| 13 years | $-5,817 |
| 15 years | $-3,608 |
| 17 years | $-1,400 |
| 19 years | $809 |
| 21 years | $3,017 |
| 23 years | $5,226 |
| 25 years | $7,434 |
Top Solar Installers in Rice Lake
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar company can make your swap to solar power much easier. Local solar companies can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by offering warranties and repairs.
If you’d like to make the switch to solar but still aren’t certain which solar system installer 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 Rice Lake
Factors that Affect Solar Panel Costs in Rice Lake
There are many factors that can determine your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Rice Lake average.
Solar Financing Terms
Many homeowners find the average cost of solar in Rice Lake to be too expensive, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in higher prices over time due to interest.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to make the switch to solar . Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Rice Lake are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $10,033 | 15.7 years |
| 8 kW | $3.96 | $22,163 | $13,812 | 15.4 years |
| 10 kW | $3.88 | $27,160 | $17,808 | 15.1 years |
| 12 kW | $3.80 | $31,940 | $22,022 | 14.8 years |
| 14 kW | $3.72 | $36,503 | $26,453 | 14.5 years |
| 16 kW | $3.65 | $40,849 | $31,101 | 14.2 years |
| 18 kW | $3.57 | $44,977 | $35,966 | 13.9 years |
| 20 kW | $3.49 | $48,888 | $41,049 | 13.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Rice Lake, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire 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 Rice Lake, WI Solar Cost FAQs
What is the average cost of installing solar panels in Rice Lake?
This is a hard question to answer exactly, 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. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Rice Lake?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future power bills.
How often do you have to replace solar panels?
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 higher level 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.