Solar Panel Cost Guide in Bagley, MI (2024 Update)
- Bagley Solar Installation Cost: $17,888
- 25-Year Savings: $22,650
- Payback Period: 12.8 Years
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Average Cost of Solar Panels in Bagley
Find out how much it might cost to make the switch to solar in Bagley.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Bagley, the typical cost of a solar system is 4 per watt.The average Bagley homeowner needs a 6.3-kilowatt system, which would cost about $17,888 with the federal tax credit, or $25,580 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Bagley homeowners. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront cost of solar panels is worth paying. On average Bagley homeowners see about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a vetted solar installer in your area for a custom quote.
Solar savings over time in Bagley
| Year | Return on Investment |
|---|---|
| 1 years | $-16,635 |
| 3 years | $-14,127 |
| 5 years | $-11,620 |
| 7 years | $-9,113 |
| 9 years | $-6,605 |
| 11 years | $-4,098 |
| 13 years | $-1,590 |
| 15 years | $917 |
| 17 years | $3,424 |
| 19 years | $5,932 |
| 21 years | $8,439 |
| 23 years | $10,947 |
| 25 years | $13,454 |
Top Solar Installers in Bagley
When going solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a difficult project. Another good thing about choosing a reputable solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
If you're searching for a solar installer in Bagley, we've put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Bagley
Factors that Affect Solar Panel Costs in Bagley
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Bagley: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.The type of solar panels and equipment you get is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than 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 researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they reduce your upfront costs and let you pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Bagley is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that offer a range of services for different budgets.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that offers 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 | $4.22 | $17,734 | $15,659 | 13.3 years |
| 8 kW | $4.14 | $23,191 | $21,333 | 13.0 years |
| 10 kW | $4.06 | $28,420 | $27,235 | 12.8 years |
| 12 kW | $3.98 | $33,422 | $33,364 | 12.5 years |
| 14 kW | $3.90 | $38,196 | $39,720 | 12.3 years |
| 16 kW | $3.82 | $42,744 | $46,304 | 12.0 years |
| 18 kW | $3.74 | $47,064 | $53,115 | 11.7 years |
| 20 kW | $3.65 | $51,156 | $60,154 | 11.5 years |
How to Save on Solar Panels
There are many companies to choose from in Bagley, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you want plays a part in which company you should go with, since different companies have access to different panels.
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
- Installation Process: When going solar, it’s essential to keep an open line of communication with your solar panel company. Make sure you understand how the installation process works and the project timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Bagley, MI Solar Cost FAQs
How much does it cost to install solar panels in Bagley?
The average cost of solar panels in Bagley is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places 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 significantly reduce my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,113.10 per year.
How long do solar panels last in Bagley?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.