Solar Panels Cost 5.1k-15k in Oconomowoc Lake, WI | October, 2024

Solar Panels Cost $5.1k-$15k in Oconomowoc Lake, WI | October, 2024

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How much do solar panels cost in Oconomowoc Lake, WI in 2024?

For solar panel systems in Oconomowoc Lake, WI, the price per watt in October, 2024 is , on average, $3.66/W.

This means that, solar panel installations will cost you $3,660 per 1000 watts (1 kW) of generation capacity. In Oconomowoc Lake, a 5 kW panel install will require you to pay, on average, $12,810 after the 30% federal income tax credit. Your energy use habits could need a larger system.

Use the menu on the left to pick your county and see the typical roof size and the average maximum capacity for solar panel systems on residences in your area. Below, you can find a complete overview of the costs, payback period, and 20-year typical savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Oconomowoc Lake: $12,810US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Oconomowoc Lake: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Oconomowoc Lake: $9,391US Average: $15,784

Solar Potential in Oconomowoc Lake

Estimated system size and solar electricity production per median viable roof in
Oconomowoc Lake.

Roof size 822sq. ft.
Capacity 11.5kW DC
Electricity 13kkWh AC per yr.

Electricity Costs in Oconomowoc Lake, WI & What that Means for Your Solar Panel Pricing

The typical monthly kWh usage for a Oconomowoc Lake resident is 632, with an average monthly bill of $115.38. Be mindful that this data set includes apartments and other smaller residences with usually reduced energy requirements.

The electricity rate per kWh in Oconomowoc Lake, WI for October 2024 is 18.27¢.

An average energy consumer in Oconomowoc Lake needs a solar system of a minimum of 6 kW to account for their full electricity usage demands. The expected cost is around $21,960for a 6 kW solar system upfront, but the federal tax credit gives you 30% back, lowering the cost to $15,372.

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Average solar panel costs by system size in Oconomowoc Lake

To the left, you'll see a detailed cost breakdown of the multiple sizes of solar panel systems set up in Oconomowoc Lake. The initial cost for larger solar systems is higher, but they also yield more significant electricity savings and more substantial income tax credits.

Check a cost benefit analysis in the solar panel cost calculator to the right and below, for an average electric bill of $115.38 in Oconomowoc Lake. By modifying the $115.38 to your typical electricity bill, you can get customized results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $515 a year
Est. Price
$5,124
Savings from a 2kWthis system
  • Est. yearly production 2,859 kWh
  • Est. monthly savings $43
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 2.22 tons a year
  • Equivalent to planting 102 trees a year
  • Equivalent to driving 5,504 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $772 a year
Est. Price
$7,686
Savings from a 3kWthis system
  • Est. yearly production 4,288 kWh
  • Est. monthly savings $64
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 3.34 tons a year
  • Equivalent to planting 153 trees a year
  • Equivalent to driving 8,256 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,029 a year
Est. Price
$10,248
Savings from a 4kWthis system
  • Est. yearly production 5,718 kWh
  • Est. monthly savings $86
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 4.45 tons a year
  • Equivalent to planting 204 trees a year
  • Equivalent to driving 11,008 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,286 a year
Est. Price
$12,810
Savings from a 5kWthis system
  • Est. yearly production 7,147 kWh
  • Est. monthly savings $107
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 5.56 tons a year
  • Equivalent to planting 255 trees a year
  • Equivalent to driving 13,760 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,544 a year
Est. Price
$15,372
Savings from a 6kWthis system
  • Est. yearly production 8,576 kWh
  • Est. monthly savings $115
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 5.96 tons a year
  • Equivalent to planting 274 trees a year
  • Equivalent to driving 14,760 mi less a year

Oconomowoc Lake Solar Panel Installation Incentives & Rebates | 2024

If you're a rural small business or farm owner, you might be eligible for REAP Grant coverage of between 80% and 100% for your photovoltaic or wind turbine project. Curious about your eligibility? Use our REAP Grant eligibility tool to check.

Most homeowners can qualify for the 30% federal income tax credit for residential solar, making solar energy a practical option throughout most parts of the country. In addition to federal incentives, there are many state and local initiatives to encourage solar energy adoption.

Wisconsin offers 12 solar rebate and incentive programs through different utilities and government agencies.

Solar incentives in WI

Renewable Energy Competitive Incentive Program

Value:Up to $500,000

Through Wisconsin's Focus on Energy program, nonprofits and public-sector agencies may receive grants to fund large-scale renewable energy investments. The current grant amount is variable per kilowatt hour for power generation or per kBTU for thermal systems. There are two requests for proposals (RFPs) opened annually. Organizations must include the technical specifications for their planned equipment, estimated energy/cost savings, and a suggested funding amount based on rate schedule guidelines. Additional information is available from the Focus on Energy website.

Design Assistance Program

Value:Up to $0.15

Through Wisconsin's Focus on Energy program, architects, building engineers, contractors, and property owners may be incentivized for meeting green construction standards. Qualifying projects include walls, lighting, windows/doors, insulation/weatherization, HVAC, water heating, and new renewable energy equipment. Awards are paid on a per-property basis; any home, business, or industrial facility may qualify. The current rebate amount is based on energy efficiency at a rate per kilowatt hour saved. Builders will receive a rebate during construction; property owners will receive their smaller rebate after construction is complete.

Renewable Rewards Program

Value:Up to $1,000

Wisconsin homeowners may be eligible for rebates on new solar PV/thermal and geothermal devices. For solar panels, the current rebate stands at $500 per array. Business customers are eligible for similar incentives but will be paid a capacity-based rebate. The maximum possible rebate is currently $1,000 for homes and $50,000 for businesses. Additional information is available from the Focus on Energy website.

Renewable Energy Sales Tax Exemptions

Value:Varies

Wisconsin sales/use tax exemptions apply to biofuel for residential energy production. Qualifying purchases include some agricultural crops, landfill gas, pellets, and wood chips/pellets/sawdust. Components used to store biofuels are not eligible for the exemption. Interested customers should submit a completed form S-211 to their retailer, who will apply for the exemption and offer a discount. Additional information and the necessary paperwork are available from the state Department of Revenue.

Net Metering

Value:Varies

In Wisconsin, all private and local public electrical utilities are required to offer net metering to their interconnected renewable customers up to a maximum quota. Cooperatives may participate in net metering, but they are not required to offer it. Any system up to 300 kW is eligible. Upon entering a net metering contract, the customer's utility will install a bidirectional meter to measure net excess generation (NEG) sent back to the grid. Customers will receive either monthly or annual bill credits for the NEG they export at a fixed, avoided-cost rate. Fees and capacity limits may apply. The Public Service Commission reserves the right to alter any net metering or energy tariff program.

Renewable Portfolio Standard

Value:Varies

Wisconsin first established a renewable portfolio standard in 1999. Initial goals required at least 10% of the state's retail electricity to be generated using renewable technology. New specific goals have never been implemented, but utilities are nonetheless obligated to increase their renewable energy activities at a rate of 6% per year. Carve-out provisions apply to keep most renewable investments within state lines. Compliance is measured using renewable energy credit (REC) and renewable resource credit (RRC) systems pegging one megawatt hour of electricity to a fluctuating dollar value. Utilities may generate credits through the use of their own renewable installations or purchase them through tariff arrangements and power purchase agreements. Each credit expires after four years of use.

Focus on Energy - Business & Marketing Grant

Value:Varies

Focus on Energy grant funding is available for Wisconsin businesses making new renewable energy investments or energy efficiency improvements. The maximum available grant is $10,000 to fund half of project costs. Eligible projects include new solar, wind, or biomass energy systems not involved in academic or corporate research and development. Grants may also support professional training and marketing initiatives. To apply, the business should be located in a participating utility's service area and submit a successful proposal. Additional information is available from the Focus on Energy website.

Energy Innovation Grant Program

Value:Varies

Wisconsin Energy Innovation grants are available to local governments, public schools, and manufacturing businesses making renewable energy investments or energy efficiency improvements. The Public Service Commission keeps an annual grant budget of roughly $5 million to award in proportion. Grants can fund new generation/energy storage equipment, sustainable transportation, and engineering reviews/project studies. Application periods, known as requests for proposals, are opened annually. Additional information is available on the Public Service Commission's website.

Interconnection Standards

Value:Varies

Distributed generation and grid interconnection practices have been standardized in Wisconsin since 2004. Each new solar, wind, or other renewable energy system is sorted into one of four regulatory "categories" based on capacity. Category 1 ends at 20 kW, Category 2 at 200 kW, and Category 3 at one megawatt. The category of a system will determine the UL/IEEE standards it must follow and the rigor of its permitting process, including application fees and review turnaround time. The state requires all system owners, even of Category 1 systems, to hold minimum liability insurance coverage of more than $300,000 per occurrence. Utilities may further require the installation of external disconnect switches, but may not charge additional fees or require additional regulatory reviews beyond what is necessary. Additional information is available from the Wisconsin Public Service Commission.

Public Benefits Fund

Value:Varies

In 1999, the Wisconsin legislature first established a public benefits fund for renewable energy and energy efficiency among low-income residents. The fund's day-to-day business is managed by a public/private partnership between Focus on Energy and the Department of Administration. Current fund initiatives support incentives, loans, and grants to home and business owners. Funding is sourced through both consumer surcharges and mandatory utility "buy-ins." Additional information is available from the Focus on Energy website.

Energy Efficiency and Green Building Standards for State Buildings

Value:Varies

Public buildings in Wisconsin are subject to sustainability and green construction standards set by the state's Department of Administration. Standards apply to new and existing buildings. New buildings must demonstrate energy efficiency of at least 30% above the state's commercial building codes, themselves based on LEED standards. Remodeling projects in existing facilities should procure only those building materials and appliances which have earned ENERGY STAR certification or which meet EPA/ASHRAE standards. Additional information, including compliance reports, is available from the Department of Administration.

Focus on Energy Program

Value:Varies

Wisconsin Focus on Energy (FoE) is a public benefits fund providing a central management infrastructure for energy efficiency and renewable energy incentive and financing programs. Utilities may tap from the fund to support loans, grants, rebates, and educational initiatives. Funding is supported through customer surcharges and mandatory utility "buy-ins." Additional information is available from the FoE website.

Are solar panels worth it in Wisconsin?

If you're planning to stay in your home past the period required to pay back your solar investment, installing solar panels is a wise decision in Oconomowoc Lake. A 5 kW system in Oconomowoc Lake, WI will save you personally, on average, $14,881.2 over a 20 period and the average break even point is 9 years.

The cost of not having solar panels in Oconomowoc Lake, WI

Besides missing out on the previously mentioned savings, not having solar panels or a separate backup energy source makes you fully reliant on your electric utility for electricity. Relying entirely on your utility isn't always ideal, as several recent news reports have highlighted.

Each year, the utilities in Oconomowoc Lake have averaged about 0.83 outages per customer. On average, the length of an outage is 114.75 minutes. Major events like thunderstorms, equipment failure, or vandalism can cause these durations to rise considerably.

A solar energy system, whether or not it has a backup battery, could help reduce the effects of any future power interruptions you might face.

Power Outages

Currently, 0 customers are being tracked in Waukesha County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Oconomowoc Lake, WI?

Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt reduces as the system size increases. Consumers often find that installing a solar system that can offset their electric bill is extremely useful. This method leads to maximum savings.

Make & Model - There are a wide variety of makes and models of solar panels and mounting equipment. Your installer’s system preferences might necessitate picking a reputable company. Buyers frequently find that using better quality models provides a more positive long-term experience.

Solar Panel Type - For numerous good reasons, monocrystalline panels are now the standard in the industry. Although they are more expensive, they deliver increased energy. The majority of installers use panels made from this material.

Your Property - No two properties or homes are identical. Trees, uneven ground, or other obstructions can increase the difficulty of the installation. Solar installers currently commonly leverage satellite imagery to evaluate your home and incorporate these considerations into the initial cost estimate.

Labor Rates - Variations in employee wages across companies cause expenses that are transferred to the consumers. Higher wages often lead to companies getting better reviews for their services and customer service.

Permitting & Interconnection - Your final installation cost will be impacted by local permitting and utility interconnection fees, which vary by area. Reliable local installers will incorporate these figures into your initial estimates to prevent any surprises.

See what solar panels cost in other WI cities

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Who are the best solar installers in Oconomowoc Lake?

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.

SunVest Solar

Pewaukee, WI(262) 547-1200

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Micrometer Engineering

Scottsdale, AZ(602) 790-5749

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.

Endries Solar & Electric

Sheboygan, WI(920) 889-8955

Services

  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Monitoring of independent energy generation.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

Eagle Point Solar

Dubuque, IA(563) 582-4044

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.
  • Reparation of solar arrays.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Generac

Waukesha, WI(888) 436-3722

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.

ConEdison Solutions

Valhalla CDP, NY(914) 286-7000

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Bright Skies

Pleasant Grove, UT(608) 293-1163

Services

  • Reparation of batteries.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Olson Solar Energy

Onalaska, WI(608) 780-2347

Services

  • Installation of solar arrays.
  • Solar systems for selling electricity back to the grid.
  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.

Sunrun

San Francisco, CA(833) 394-3384

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Monitoring of independent energy generation.
  • Installation of batteries for energy storage.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Current Electric

Wauwatosa, WI(262) 214-5598

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

DT Solar

(888) 984-6786

Services

  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Oconomowoc Lake, WI Solar Panel Cost FAQs

  • As of October, 2024, the average solar panel installation cost in Oconomowoc Lake, WI has reached $3.66/W. In Oconomowoc Lake, WI, the cost of installing a 5 kW solar panel system is approximately $12,810 after applying the federal tax credit.
  • At present, there are 12 rebates and incentives available to Wisconsin residents from various utility and government programs. Moreover, nearly everyone is eligible for the 30% federal income tax credit.
  • Paying cash yields the most savings, but there are now multiple financing options for solar panels that are also cost-effective. Information about financing options will often be detailed in your preliminary quotes by many installers.
  • Yes, in Oconomowoc Lake, WI, 5 kW solar panel systems usually pay off in 9 years, providing an average electricity cost savings of $14,881.2 over a 20-year period.
King Manalo
Last Reviewed By: King Manalo
Published: 2024-10-01