Solar Panel Cost Guide in Somerset, WI (2024 Update)
- Somerset Solar Installation Cost: $19,998
- 25-Year Savings: $22,662
- Payback Period: 13.9 Years
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Average Cost of Solar Panels in Somerset
Here’s how much it might cost to install solar panels in Somerset.
The national average cost of solar panels is $2.66 per watt, but in Somerset it’s 4 per watt.Since a 7.4-kW system is needed to cover the energy consumption of a typical home in Somerset, the average price of going solar will be about $19,998 after claiming the federal solar tax credit of 0.
These figures are only estimates, and your own solar costs will look different based on your energy needs and what company you choose to go with.Even with the high upfront cost, the average Somerset homeowner can save around $19,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Somerset for a quote for your home.
Solar savings over time in Somerset
| Year | Return on Investment |
|---|---|
| 1 years | $-18,894 |
| 3 years | $-16,685 |
| 5 years | $-14,477 |
| 7 years | $-12,268 |
| 9 years | $-10,060 |
| 11 years | $-7,851 |
| 13 years | $-5,643 |
| 15 years | $-3,434 |
| 17 years | $-1,226 |
| 19 years | $983 |
| 21 years | $3,191 |
| 23 years | $5,400 |
| 25 years | $7,608 |
Top Solar Installers in Somerset
Putting up solar panels yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. Another benefit of going with a solar company is that they can help you make the most of your investment by cutting back on future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in Somerset, we've compiled a list of our top suggestions here:
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Somerset
Factors that Affect Solar Panel Costs in Somerset
For many Somerset homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Somerset, 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
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $3,880 per kilowatt in Somerset.The brand and type of equipment you get for your solar system can raise or lower 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 a small roof 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are offered by most installers in Somerset, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your total 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 putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect how much it costs. Somerset’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Somerset 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 help you save 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 | $12,439 | 14.4 years |
| 8 kW | $3.96 | $22,163 | $17,020 | 14.1 years |
| 10 kW | $3.88 | $27,160 | $21,818 | 13.9 years |
| 12 kW | $3.80 | $31,940 | $26,833 | 13.6 years |
| 14 kW | $3.72 | $36,503 | $32,066 | 13.3 years |
| 16 kW | $3.65 | $40,849 | $37,516 | 13.0 years |
| 18 kW | $3.57 | $44,977 | $43,183 | 12.8 years |
| 20 kW | $3.49 | $48,888 | $49,068 | 12.5 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:
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Somerset, WI Solar Cost FAQs
How much does it cost to install solar panels in Somerset?
This is a hard question to answer exactly, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Somerset?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
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 how much direct sunlight your roof gets.
How long do solar panels last in Somerset?
Even though 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 the amount of energy they produce will have decreased significantly after that point. You can choose to replace them after having 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.