Solar Panel Cost Guide in Alma, MI (2023 Update)
- Alma Solar Installation Cost: $17,489
- 25-Year Savings: $21,584
- Payback Period: 13.0 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Alma
We break down average solar pricing in Alma.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Alma, the average cost of solar panels is 2.81 per watt.Because a 6.2-kW system is needed to cover the energy consumption of a typical home in Alma, the average price of going solar will be about $12,097 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average energy use of Alma homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Many homeowners find installing solar panels is a solid investment. The average homeowner in Alma can save around $21,000 on their power bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Alma for a quote for your home.
Solar savings over time in Alma
| Year | Return on Investment |
|---|---|
| 1 years | $-16,235 |
| 3 years | $-13,728 |
| 5 years | $-11,220 |
| 7 years | $-8,713 |
| 9 years | $-6,206 |
| 11 years | $-3,698 |
| 13 years | $-1,191 |
| 15 years | $1,317 |
| 17 years | $3,824 |
| 19 years | $6,331 |
| 21 years | $8,839 |
| 23 years | $11,346 |
| 25 years | $13,854 |
Top Solar Installers in Alma
Many homeowners choose to hire a solar panel company since installing solar panels on your own can be a labor-intensive endeavor. The expertise that solar installers offer can be valuable as well, especially if you don't quite know what brand of solar equipment would be right for your home.
If you're searching for a solar company in Alma, we've put together a list of our top suggestions here:
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 Alma
Factors that Affect Solar Panel Costs in Alma
There are several factors that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,810. The model of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on 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
Most solar companies in Alma offer solar loans, which reduce the initial cost of installing solar panels.You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The final major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Alma, you'll have plenty of options to choose from, but each comes at various price points for labor and equipment.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $15,113 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,605 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,325 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,272 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,446 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,848 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,477 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,333 | 11.7 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
- Warranty: If you're concerned about the durability of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process will go and the completion timeline.
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 Alma, MI Solar Cost FAQs
How much does it cost to install solar panels in Alma?
The average cost of solar panels in Alma 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 things like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Alma?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Alma have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Alma?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.