Solar Panel Cost Guide in Allegan, MI (2023 Update)
- Allegan Solar Installation Cost: $11,684
- 25-Year Savings: $22,821
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Allegan
Here's how much it might cost to make the switch to solar in Allegan.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Allegan, the typical cost of a solar system is 2.81 per watt. To cover the typical energy needs of the average home in Allegan, most homeowners require a 5.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,684, or $16,708 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit depending on several factors, such as what size system you need, your energy usage and what installation company you go with. Many homeowners find installing a solar panel system is a rewarding investment. The average homeowner in Allegan can save about $22,000 on their electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Allegan
| Year | Return on Investment |
|---|---|
| 1 years | $-10,304 |
| 3 years | $-7,543 |
| 5 years | $-4,783 |
| 7 years | $-2,023 |
| 9 years | $738 |
| 11 years | $3,498 |
| 13 years | $6,258 |
| 15 years | $9,019 |
| 17 years | $11,779 |
| 19 years | $14,539 |
| 21 years | $17,300 |
| 23 years | $20,060 |
| 25 years | $22,821 |
Top Solar Installers in Allegan
Although it's possible to install solar panels yourself, it takes extra energy and expertise. That's one of the reasons most homeowners choose to hire a solar panel installer. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to make the switch to solar but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
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 Allegan
Factors that Affect Solar Panel Costs in Allegan
The cost of installing a solar system in Allegan can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Allegan, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy consumption, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,810 for each additional kilowatt you need. The model of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment consists of more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Allegan, which can bring down, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your all-in costs, so it's important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Allegan, and each can charge different amounts for labor and equipment. Additionally, some companies in Allegan are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $22,552 | 8.8 years |
| 8 kW | $2.87 | $16,051 | $30,384 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,373 | 8.5 years |
| 12 kW | $2.75 | $23,132 | $46,520 | 8.3 years |
| 14 kW | $2.70 | $26,436 | $54,824 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $63,285 | 8.0 years |
| 18 kW | $2.59 | $32,574 | $71,904 | 7.8 years |
| 20 kW | $2.53 | $35,406 | $80,680 | 7.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Solar Panel Brands: The type of solar panel you need to install plays a role in which installer you should choose, since different companies offer 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 Allegan, MI Solar Cost FAQs
How much does it cost to install solar panels in Allegan?
The average cost of solar panels in Allegan is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your property's value significantly as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can 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.