Solar Panel Cost Guide in Bay City, MI (2023 Update)
- Bay City Solar Installation Cost: $12,117
- 25-Year Savings: $20,123
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bay City
We go over average solar pricing in Bay City.
Although the national average of solar panels is $2.66 per watt, solar panels in Bay City typically cost around 2.81. Because a 6.2-kW system is needed to cover the energy costs of a typical home in Bay City, the average price of going solar will be about $12,117 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 Bay City homeowners. The cost 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. Even with the large upfront cost, the average Bay City homeowner can save about $20,000 on their energy bills over 20 years, which is one of the benefits of solar.
You can click the button below to get connected with a top solar installer in Bay City for a quote for your home.
Solar savings over time in Bay City
| Year | Return on Investment |
|---|---|
| 1 years | $-10,827 |
| 3 years | $-8,248 |
| 5 years | $-5,669 |
| 7 years | $-3,090 |
| 9 years | $-510 |
| 11 years | $2,069 |
| 13 years | $4,648 |
| 15 years | $7,227 |
| 17 years | $9,806 |
| 19 years | $12,385 |
| 21 years | $14,965 |
| 23 years | $17,544 |
| 25 years | $20,123 |
Top Solar Installers in Bay City
Although it's possible to install solar panels on your own, it requires extra effort and handiness. For that reason, most people choose to hire a solar panel installer. Plus, warranties and repairs from your solar panel installer can protect your investment and reduce the cost of maintenance over time.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some 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 Bay City
Factors that Affect Solar Panel Costs in Bay City
For many Bay City homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Bay City, with typical prices between $20,000 to $40,000. There are various factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are an affordable option because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can affect how much it costs. Bay City's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $19,150 | 9.8 years |
| 8 kW | $2.87 | $16,051 | $25,847 | 9.6 years |
| 10 kW | $2.81 | $19,670 | $32,703 | 9.4 years |
| 12 kW | $2.75 | $23,132 | $39,715 | 9.2 years |
| 14 kW | $2.70 | $26,436 | $46,885 | 9.0 years |
| 16 kW | $2.64 | $29,584 | $54,213 | 8.8 years |
| 18 kW | $2.59 | $32,574 | $61,697 | 8.6 years |
| 20 kW | $2.53 | $35,406 | $69,339 | 8.5 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: The brand of solar panel you'd like to install plays a role in which company you should opt for, since different companies provide different panels.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 Bay City, MI Solar Cost FAQs
How much does it cost to install solar panels in Bay City?
This is a hard question to answer exactly, 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.