Solar Panel Cost Guide in Byron, MI (2023 Update)
- Byron Solar Installation Cost: $12,147
- 25-Year Savings: $22,557
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Byron
Here's how much it might cost to make the switch to solar in Byron.
Although the national average of solar panels is $2.66 per watt, solar panels in Byron typically cost about 2.81. Since a 6.2-kW system is needed to cover the energy costs of a typical home in Byron, the average price of going solar will be about $12,156 after claiming the federal solar tax credit of 30%.
These figures are only estimates, and your own solar costs will differ based on factors unique to your home and what company you want to go with. Many homeowners find installing solar panels is a sound investment. The average homeowner in Byron can save around $21,000 on their electricity bills over 20 years.
To receive a free estimate from a top solar installer in Byron, you can click the button below.
Solar savings over time in Byron
| Year | Return on Investment |
|---|---|
| 1 years | $-10,894 |
| 3 years | $-8,386 |
| 5 years | $-5,879 |
| 7 years | $-3,371 |
| 9 years | $-864 |
| 11 years | $1,643 |
| 13 years | $4,151 |
| 15 years | $6,658 |
| 17 years | $9,166 |
| 19 years | $11,673 |
| 21 years | $14,180 |
| 23 years | $16,688 |
| 25 years | $19,195 |
Top Solar Installers in Byron
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be right for you.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Byron
Factors that Affect Solar Panel Costs in Byron
There are many criteria that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. The brand and type of equipment you choose 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Byron to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. 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 securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar company you pick will impact your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 | $21,444 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $28,906 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,526 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $44,304 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $52,238 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,330 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $68,580 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,986 | 7.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- 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 Panel Brands: The type of solar panel you need to install plays a role in which company you should go with, since different companies provide different panels.
- Warranty: If you're concerned about the endurance of your solar panels, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar company, make sure to read it through completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Byron, MI Solar Cost FAQs
What is the average cost of installing solar panels in Byron?
This is a tough question to answer precisely, because the cost depends on many factors. Generally 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Byron?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to 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 savings from going solar.
Is making the switch to solar worth it?
Solar panels can be a great 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 energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.