Solar Panel Cost Guide in Caledonia, MI (2023 Update)
- Caledonia Solar Installation Cost: $12,156
- 25-Year Savings: $22,229
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Caledonia
See how much it might cost to switch to solar power in Caledonia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Caledonia, the typical cost of solar panels is 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Caledonia homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $21,000 over 20 years on power bills.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Caledonia
| Year | Return on Investment |
|---|---|
| 1 years | $-10,781 |
| 3 years | $-8,030 |
| 5 years | $-5,279 |
| 7 years | $-2,528 |
| 9 years | $223 |
| 11 years | $2,974 |
| 13 years | $5,724 |
| 15 years | $8,475 |
| 17 years | $11,226 |
| 19 years | $13,977 |
| 21 years | $16,728 |
| 23 years | $19,479 |
| 25 years | $22,229 |
Top Solar Installers in Caledonia
Although you can install solar panels by yourself, it requires extra effort and knowledge. That's why most homeowners choose to go with a solar panel installer. Companies can also have access to a large variety of the best solar panels and help you choose which one will be best for you.
If you're looking for a solar installer in Caledonia, we've put together 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 Caledonia
Factors that Affect Solar Panel Costs in Caledonia
There are several factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy system you need for your home, 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 nearly $2,810. The brand of solar panels and equipment you choose is another factor that will significantly impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are offered by most installers in Caledonia, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to make the switch to solar power. Different companies will charge different amounts for the equipment and labor. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $21,134 | 9.2 years |
| 8 kW | $2.87 | $16,051 | $28,493 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,010 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $43,684 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $51,515 | 8.5 years |
| 16 kW | $2.64 | $29,584 | $59,504 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $67,650 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $75,954 | 7.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and how long the project will take.
- Contract: Review the contract terms carefully to make sure you understand the total cost, completion timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a quality company.
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 Caledonia, MI Solar Cost FAQs
How much does it cost to install solar panels in Caledonia?
The average cost of solar panels in Caledonia is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Caledonia?
Leasing solar panels can be an option if you can't 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 property 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.
Can you sell solar power back to the grid in Caledonia?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces 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.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.