diff --git a/appveyor.yml b/appveyor.yml
index 5c36e87f05..73f093eef5 100644
--- a/appveyor.yml
+++ b/appveyor.yml
@@ -19,10 +19,14 @@ init:
 - ver
 
 install:
-- ps: if (-not (Test-Path C:\Toolchain.msi)) {Invoke-WebRequest https://s3-us-west-2.amazonaws.com/px4-tools/PX4+Windows+Cygwin+Toolchain/PX4+Windows+Cygwin+Toolchain+0.4.msi -OutFile C:\Toolchain.msi}
-- start /wait msiexec /i C:\Toolchain.msi /quiet /qn /norestart /log C:\install.log
-
-# Note: using start /wait is important
+# if the toolchain wasn't restored from build cache download and install it
+- ps: >-
+    if (-not (Test-Path C:\PX4)) {
+        Invoke-WebRequest https://s3-us-west-2.amazonaws.com/px4-tools/PX4+Windows+Cygwin+Toolchain/PX4+Windows+Cygwin+Toolchain+0.4.msi -OutFile C:\Toolchain.msi
+        Start-Process -Wait msiexec -ArgumentList '/I C:\Toolchain.msi /quiet /qn /norestart /log C:\install.log'
+    }
+
+# Note: using Start-Process -Wait is important
 # because otherwise the install begins but non-blocking and the result cannot be used just after
 
 build_script:
@@ -31,7 +35,7 @@ build_script:
 # safe the repopath for switching to it in cygwin bash
 - for /f %%i in ('cygpath -u %%CD%%') do set repopath=%%i
 # fetch all submodules in parallel
-- call bash --login -c "cd $repopath && git submodule update --init --recursive --jobs=10"
+- call bash --login -c "cd $repopath && git submodule -q update --init --recursive --jobs=10"
 # make SITL
 - call bash --login -c "cd $repopath && make posix"
 # make pixracer to check NuttX build
@@ -41,6 +45,7 @@ build_script:
 # because otherwise certain things (like python; import numpy) do not work
 
 cache:
-# cache toolchain installation file to avoid downloading it from AWS S3 each time
-# it's ~496MB < 1GB free limit for build caches
-- C:\Toolchain.msi -> appveyor.yml
+# cache the entire toolchain installation folder to avoid
+# downloading it from AWS S3 and installing the MSI each time
+# it's ~1.8GB > 1GB free limit for build caches
+- C:\PX4 -> appveyor.yml