Solar Panel Cost Guide in Belding, MI (2023 Update)
- Belding Solar Installation Cost: $12,127
- 25-Year Savings: $22,378
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Belding
Find out what the average cost of solar panel installation is in Belding.
The national average cost of solar panels is $2.66 per watt, but in Belding it's 2.81 per watt. To account for the typical energy needs of the average home in Belding, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $12,136, or $17,354 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary based on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with. With typical savings of about $21,000 on energy bills over 20 years, many homeowners in Belding find investing in solar can be quite rewarding.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Belding
| Year | Return on Investment |
|---|---|
| 1 years | $-10,873 |
| 3 years | $-8,365 |
| 5 years | $-5,858 |
| 7 years | $-3,351 |
| 9 years | $-843 |
| 11 years | $1,664 |
| 13 years | $4,171 |
| 15 years | $6,679 |
| 17 years | $9,186 |
| 19 years | $11,694 |
| 21 years | $14,201 |
| 23 years | $16,708 |
| 25 years | $19,216 |
Top Solar Installers in Belding
Installing solar panels by yourself can be a stressful undertaking, which is why hiring a solar installation company is a good option for many homeowners. Some solar companies, particularly local ones, can help you better understand incentives in Belding, therefore optimizing your ROI.
If you're looking for a solar installer in Belding, the EcoWatch team has organized 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 Belding
Factors that Affect Solar Panel Costs in Belding
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Belding: 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
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Belding. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Belding, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Belding, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also increases your overall costs, so it's crucial to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Belding is the company you choose to install your solar system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies typically have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $21,307 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $28,724 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,298 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $44,029 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $51,918 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $59,965 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $68,169 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,530 | 7.9 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. 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 ask for their list of offerings before making your decision.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
- Warranty: Many companies offer different types of warranties that cover different things. 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 Belding, MI Solar Cost FAQs
What is the average cost of installing solar panels in Belding?
The average cost of solar panels in Belding is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Belding?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Does Belding have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of 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.