Solar Panel Cost Guide in Cambridge, MI (2024 Update)
- Cambridge Solar Installation Cost: $17,337
- 25-Year Savings: $23,023
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Cambridge
Let’s have a look at the average cost of solar panels in Cambridge.
The national average cost of solar panels is $2.66 per watt, but in Cambridge it’s 4 per watt.Using this figure, a typical 6.1-kW system would cost about $17,337 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Cambridge depending on a few factors, such as the type of solar panels you choose and the solar company you hire.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Cambridge find investing in solar can pay off big.
You can click the button below to get connected with a top solar installer in Cambridge that can help you get a more accurate cost estimate for your home.
Solar savings over time in Cambridge
| Year | Return on Investment |
|---|---|
| 1 years | $-16,083 |
| 3 years | $-13,576 |
| 5 years | $-11,068 |
| 7 years | $-8,561 |
| 9 years | $-6,053 |
| 11 years | $-3,546 |
| 13 years | $-1,039 |
| 15 years | $1,469 |
| 17 years | $3,976 |
| 19 years | $6,484 |
| 21 years | $8,991 |
| 23 years | $11,498 |
| 25 years | $14,006 |
Top Solar Installers in Cambridge
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar panel installer can make converting to solar power much easier. Since solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free quote 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
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 Cambridge
Factors that Affect Solar Panel Costs in Cambridge
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Cambridge: 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
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you choose also affects the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Cambridge provide solar loans, which reduce your upfront costs of installing solar.When figuring out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Cambridge is the company you hire to install your solar panel system. Similar to choosing a company to build a deck or pool, for instance, you’ll have many options for solar installers that offer a range of services at different costs.You may come across national solar installers that have lower prices due to their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $16,713 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,739 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $28,992 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,472 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,180 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,115 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,277 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,667 | 11.1 years |
How to Save on Solar Panels
The solar company you choose will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: When looking over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Cambridge, MI Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
The average cost of solar panels in Cambridge is about $20,300 for a 5-kW system and $40,600 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 consume.
Are solar panels free in Cambridge?
A solar panel system isn’t free in Cambridge, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Cambridge?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 higher 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.