Solar Panel Cost Guide in Albion, MI (2024 Update)
- Albion Solar Installation Cost: $17,354
- 25-Year Savings: $23,293
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Albion
Here’s how much it might cost to make the switch to solar in Albion.
The national average cost of solar panels is $2.66 per watt, but in Albion it’s 4 per watt.The average Albion homeowner needs a 6.1-kilowatt system, which would cost about $17,354 with the federal tax credit, or $24,816 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Albion homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront investment in solar power is worth paying. On average Albion homeowners see about $22,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Albion
| Year | Return on Investment |
|---|---|
| 1 years | $-16,101 |
| 3 years | $-13,593 |
| 5 years | $-11,086 |
| 7 years | $-8,579 |
| 9 years | $-6,071 |
| 11 years | $-3,564 |
| 13 years | $-1,056 |
| 15 years | $1,451 |
| 17 years | $3,958 |
| 19 years | $6,466 |
| 21 years | $8,973 |
| 23 years | $11,480 |
| 25 years | $13,988 |
Top Solar Installers in Albion
Many homeowners opt for a solar installation company since trying to put up solar panels by yourself can be a labor-intensive endeavor. The expertise that solar companies offer can be valuable as well, especially if you aren’t sure what brand of solar equipment would be right for your home.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Albion
Factors that Affect Solar Panel Costs in Albion
The cost of installing a solar system in Albion can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are offered by most installers in Albion, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your overall costs, so it’s important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of green energy solutions in Albion, you’ll have lots of options to choose from, but each comes at various price points for labor and equipment.Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $4.22 | $17,734 | $16,955 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,061 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,395 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $35,956 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,744 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,760 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $57,003 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,473 | 11.1 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 decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can check your installer’s reputation is by reading reviews.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Contract: Before signing a contract with a solar company, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- Outstanding customer service
- Representatives are experts on local policies
- Educational, no-pressure sales approach
- Limited warranty coverage
- No leases or PPAs
- Limited brands of solar equipment available
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Albion, MI Solar Cost FAQs
How much does it cost to install solar panels in Albion?
The average cost of solar panels in Albion is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Albion?
Solar panels aren’t free in Albion, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is switching to solar power worth it?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can opt 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.