Solar Panel Cost Guide in Almena, MI (Mar 2023)
- Almena Solar Installation Cost: $11,409
- 25-Year Savings: $21,645
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Almena
Find out what the average cost of a solar system is in Almena.
The national average cost of solar panels is $2.66 per watt, but in Almena it's 2.81 per watt. The average Almena homeowner needs a 5.8-kilowatt system, which would cost about $11,409 with the federal tax credit, or $16,315 before the 30% tax credit is applied.
The actual price you pay can go higher or lower than the average in Almena based on several factors, such as the kind of solar panels you choose and the solar contractor you hire. Despite the significant initial cost, the average Almena homeowner can save around $22,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Almena
| Year | Return on Investment |
|---|---|
| 1 years | $-10,086 |
| 3 years | $-7,442 |
| 5 years | $-4,798 |
| 7 years | $-2,153 |
| 9 years | $491 |
| 11 years | $3,135 |
| 13 years | $5,779 |
| 15 years | $8,424 |
| 17 years | $11,068 |
| 19 years | $13,712 |
| 21 years | $16,357 |
| 23 years | $19,001 |
| 25 years | $21,645 |
Top Solar Installers in Almena
Many homeowners choose to use a solar installer since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Companies can also provide access to a large variety of the best solar panels and help you pick which one will be right for your home.
Working with a professional solar company can help your solar project go smoothly. 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
See all of the solar companies in Almena
Factors that Affect Solar Panel Costs in Almena
For many Almena homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Almena, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Almena, 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 figure out by looking at past electricity bills. Your total cost can increase by about $2,810 for each additional kilowatt you need. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your all-in costs, so it's vital 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 installer you go with to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Almena, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $21,900 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,515 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,287 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,216 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $53,303 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,547 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $69,948 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,507 | 7.8 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Almena, MI Solar Cost FAQs
How much does it cost to install solar panels in Almena?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Almena?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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 maximize your savings.
How will having solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt 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 long do solar panels last in Almena?
Even 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 once you've had them for that long or you can keep using 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.