Solar Panel Cost Guide in Algonac, MI (Mar 2023)
- Algonac Solar Installation Cost: $11,704
- 25-Year Savings: $13,416
- Payback Period: 11.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated March 14, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Algonac
We go over average solar pricing in Algonac.
The national average cost of solar panels is $2.66 per watt, but in Algonac it's 2.81 per watt. The average solar panel system size in Algonac is around 6.0 kilowatts, meaning a cost of about $11,704 for a solar installation, or $16,737 before the 30% federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will most likely look different based on your energy needs and what company you choose to go with. But, once you've paid the upfront cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar company in your area for a personalized estimate.
Solar savings over time in Algonac
| Year | Return on Investment |
|---|---|
| 1 years | $-10,699 |
| 3 years | $-8,689 |
| 5 years | $-6,680 |
| 7 years | $-4,670 |
| 9 years | $-2,661 |
| 11 years | $-651 |
| 13 years | $1,359 |
| 15 years | $3,368 |
| 17 years | $5,378 |
| 19 years | $7,387 |
| 21 years | $9,397 |
| 23 years | $11,407 |
| 25 years | $13,416 |
Top Solar Installers in Algonac
When switching to solar energy, many homeowners prefer to use a solar company since putting up a solar system yourself can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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
See all of the solar companies in Algonac
Factors that Affect Solar Panel Costs in Algonac
For many Algonac homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Algonac, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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 $2,810. There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Algonac have solar loans, which reduce the initial cost of installing solar. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Algonac is the company you choose to install your solar panel system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services at different costs. Additionally, some companies in Algonac have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.92 | $12,274 | $13,040 | 12.1 years |
| 8 kW | $2.87 | $16,051 | $17,702 | 11.9 years |
| 10 kW | $2.81 | $19,670 | $22,520 | 11.7 years |
| 12 kW | $2.75 | $23,132 | $27,496 | 11.4 years |
| 14 kW | $2.70 | $26,436 | $32,630 | 11.2 years |
| 16 kW | $2.64 | $29,584 | $37,921 | 11.0 years |
| 18 kW | $2.59 | $32,574 | $43,369 | 10.7 years |
| 20 kW | $2.53 | $35,406 | $48,975 | 10.5 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you care about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established 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.
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which company you should choose, since different companies have different panels.
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
EcoWatch's Algonac, MI Solar Cost FAQs
How much does it cost to install solar panels in Algonac?
This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important thing to think about when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Algonac, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.