Solar Panel Cost Guide in Waterford, WI (2024 Update)
- Waterford Solar Installation Cost: $18,973
- 25-Year Savings: $27,239
- Payback Period: 11.9 Years
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Average Cost of Solar Panels in Waterford
Here’s how much it might cost to go solar in Waterford.
The national average cost of solar panels is $2.66 per watt, but in Waterford it’s 4 per watt.Using this figure, a typical 7.0-kW system would cost about $18,973 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Waterford homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $22,000 on energy bills over 20 years, many homeowners in Waterford find going solar can pay off big.
Click the button below to get connected to a top solar panel company in Waterford for a custom quote.
Solar savings over time in Waterford
| Year | Return on Investment |
|---|---|
| 1 years | $-17,678 |
| 3 years | $-15,087 |
| 5 years | $-12,496 |
| 7 years | $-9,905 |
| 9 years | $-7,314 |
| 11 years | $-4,723 |
| 13 years | $-2,132 |
| 15 years | $459 |
| 17 years | $3,050 |
| 19 years | $5,641 |
| 21 years | $8,232 |
| 23 years | $10,823 |
| 25 years | $13,414 |
Top Solar Installers in Waterford
Many homeowners opt for a solar installation company since trying to install solar panels by yourself can be a lot of work. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you’d like to go solar but still aren’t sure which solar company to go with, here are our recommendations 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 Waterford
Factors that Affect Solar Panel Costs in Waterford
While the average cost of a solar system in Waterford is $18,973, your final cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $3,880.The kind of solar equipment you choose can bring your price up or down 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, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Waterford average.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years.When estimating your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can impact the cost. Waterford’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to 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 | $17,368 | 12.3 years |
| 8 kW | $3.96 | $22,163 | $23,591 | 12.1 years |
| 10 kW | $3.88 | $27,160 | $30,032 | 11.9 years |
| 12 kW | $3.80 | $31,940 | $36,691 | 11.6 years |
| 14 kW | $3.72 | $36,503 | $43,566 | 11.4 years |
| 16 kW | $3.65 | $40,849 | $50,659 | 11.2 years |
| 18 kW | $3.57 | $44,977 | $57,970 | 10.9 years |
| 20 kW | $3.49 | $48,888 | $65,497 | 10.7 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar installer. Confirm that you understand how the installation process will go and the project timeline.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: It’s important to read your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
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 Waterford, WI Solar Cost FAQs
How much does it cost to install solar panels in Waterford?
The average cost of solar panels in Waterford 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 kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Waterford?
Leasing solar panels can be an appealing choice, as it often 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 get the most savings.
Can solar panels significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,143.85 per year.
How long do solar panels last in Waterford?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce 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.