Solar Panel Cost Guide in Almena, MI (2023 Update)
- Almena Solar Installation Cost: $11,415
- 25-Year Savings: $21,639
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Almena
We break down average solar pricing 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.
Bear in mind that the figures above are only estimates based on the average energy use of Almena 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 cost of solar panels is worth paying. On average homeowners in Almena see about $22,000 in savings on energy bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Almena, you can click the button below.
Solar savings over time in Almena
| Year | Return on Investment |
|---|---|
| 1 years | $-11,305 |
| 3 years | $-11,085 |
| 5 years | $-10,864 |
| 7 years | $-10,644 |
| 9 years | $-10,423 |
| 11 years | $-10,203 |
| 13 years | $-9,983 |
| 15 years | $-9,762 |
| 17 years | $-9,542 |
| 19 years | $-9,322 |
| 21 years | $-9,101 |
| 23 years | $-8,881 |
| 25 years | $-8,661 |
Top Solar Installers in Almena
When going solar, many homeowners prefer to hire a solar installer since overseeing your solar installation yourself can be a difficult project. The expertise that solar installers provide can be useful as well, particularly if you don't quite know what brand of solar equipment you need.
If you're searching for a solar installer in Almena, the EcoWatch team has 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 Almena
Factors that Affect Solar Panel Costs in Almena
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Almena: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
When it comes to estimating the cost of solar panels 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 primarily based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,810 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Almena, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they lower your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Almena, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also fit into your budget.
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 brand of solar panels and the installer you choose has an impact on 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:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and what the project timeline is.
- Contract: Review the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
- Warranty: Warranties that provide coverage for defective panels and repairs over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Solar Panel Brands: Different companies will have various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you're considering has it.
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.