Solar Panel Cost Guide in Bridgeport, MI (2023 Update)
- Bridgeport Solar Installation Cost: $12,193
- 25-Year Savings: $18,785
- Payback Period: 9.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Bridgeport
Find out what the average cost of solar panels are in Bridgeport.
In Bridgeport, solar panels cost about 2.81 per watt on average. The average Bridgeport homeowner needs a 6.2-kilowatt system, which would cost about $12,195 with the federal tax credit, or $17,439 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary quite a bit depending on several factors, such as how many panels you need, your energy usage and what company you go with. Despite the large upfront cost, the average Bridgeport homeowner can save around $19,000 on their energy bills over 20 years, which is one of the perks of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Bridgeport
| Year | Return on Investment |
|---|---|
| 1 years | $-12,090 |
| 3 years | $-11,884 |
| 5 years | $-11,677 |
| 7 years | $-11,471 |
| 9 years | $-11,264 |
| 11 years | $-11,058 |
| 13 years | $-10,851 |
| 15 years | $-10,645 |
| 17 years | $-10,438 |
| 19 years | $-10,231 |
| 21 years | $-10,025 |
| 23 years | $-9,818 |
| 25 years | $-9,612 |
Top Solar Installers in Bridgeport
Trying to put up solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for you.
You can get a free quote from a local solar installer on how much solar panels could cost 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 Bridgeport
Factors that Affect Solar Panel Costs in Bridgeport
The cost of installing a solar system in Bridgeport can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,810. The kind of solar panels and equipment you choose is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable choice 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. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies operating in Bridgeport, and each can charge varying amounts for labor and equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials 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 | $17,709 | 10.2 years |
| 8 kW | $2.87 | $16,051 | $23,927 | 10.0 years |
| 10 kW | $2.81 | $19,670 | $30,303 | 9.8 years |
| 12 kW | $2.75 | $23,132 | $36,835 | 9.6 years |
| 14 kW | $2.70 | $26,436 | $43,525 | 9.4 years |
| 16 kW | $2.64 | $29,584 | $50,372 | 9.2 years |
| 18 kW | $2.59 | $32,574 | $57,377 | 9.1 years |
| 20 kW | $2.53 | $35,406 | $64,539 | 8.9 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, including:
- Solar Panel Brands: The kind of solar panel you'd like plays a part in which installer you should opt for, since different companies have different panels.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Bridgeport, MI Solar Cost FAQs
What is the average cost of installing solar panels in Bridgeport?
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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Bridgeport?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The drawback 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 get the most savings.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Bridgeport is currently $64,012, which means you can look forward to a value of about $2,624 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Bridgeport is a rewarding investment.
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 stop working completely 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 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.