Solar Panel Cost Guide in Buchanan, MI (2024 Update)
- Buchanan Solar Installation Cost: $16,836
- 25-Year Savings: $13,529
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Buchanan
Find out what the average cost of solar panels are in Buchanan.
In Buchanan, solar panels cost about 4 per watt on average.Since a 5.9-kW system is needed to cover the energy usage of a typical home in Buchanan, the average price of going solar will be about $16,836 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Buchanan homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $16,000 over 20 years on energy bills.
You can click the button below to get connected with a vetted solar company in Buchanan for a quote for your home.
Solar savings over time in Buchanan
Year | Return on Investment |
---|---|
1 years | $-15,611 |
3 years | $-13,163 |
5 years | $-10,714 |
7 years | $-8,265 |
9 years | $-5,816 |
11 years | $-3,367 |
13 years | $-918 |
15 years | $1,531 |
17 years | $3,979 |
19 years | $6,428 |
21 years | $8,877 |
23 years | $11,326 |
25 years | $13,775 |
Top Solar Installers in Buchanan
Many homeowners choose to use a solar installation company since installing solar panels on your own can be time-consuming. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and component replacements.
You can work with a local solar installer to get a free estimate on how much your investment in solar 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Buchanan
Factors that Affect Solar Panel Costs in Buchanan
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Buchanan: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Buchanan, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Buchanan homeowners choose to finance their solar panel systems to offset upfront costs.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Buchanan, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.Some companies 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 come at a higher cost. It’s best to do some research and decide on the company that provides the products, warranties and services you want 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 | $7,770 | 17.4 years |
8 kW | $4.14 | $23,191 | $10,815 | 17.0 years |
10 kW | $4.06 | $28,420 | $14,087 | 16.7 years |
12 kW | $3.98 | $33,422 | $17,587 | 16.4 years |
14 kW | $3.90 | $38,196 | $21,314 | 16.0 years |
16 kW | $3.82 | $42,744 | $25,268 | 15.7 years |
18 kW | $3.74 | $47,064 | $29,449 | 15.4 years |
20 kW | $3.65 | $51,156 | $33,858 | 15.0 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: If you’re concerned about the durability of your solar system, verifying that your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Buchanan, MI Solar Cost FAQs
How much does it cost to install solar panels in Buchanan?
This is a tough question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than 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 it worth going solar in Buchanan?
Solar panels can be a good investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Buchanan?
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 their energy production will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use 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.