Solar Panel Cost Guide in Cannon, MI (2023 Update)
- Cannon Solar Installation Cost: $12,156
- 25-Year Savings: $22,748
- Payback Period: 8.7 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Cannon
Let's take a look at the average cost of solar in Cannon.
The average cost of solar panels in Cannon is 2.81 per watt. Since a 6.2-kW system is needed to cover the energy needs of a typical home in Cannon, the average price of going solar will be about $12,156 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Despite the high upfront cost, the average Cannon homeowner can save around $21,000 on their power bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cannon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,760 |
| 3 years | $-7,968 |
| 5 years | $-5,175 |
| 7 years | $-2,383 |
| 9 years | $409 |
| 11 years | $3,202 |
| 13 years | $5,994 |
| 15 years | $8,786 |
| 17 years | $11,579 |
| 19 years | $14,371 |
| 21 years | $17,164 |
| 23 years | $19,956 |
| 25 years | $22,748 |
Top Solar Installers in Cannon
Installing solar panels by yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Some solar installers, particularly local ones, can help you better understand incentives in Cannon, therefore optimizing your ROI.
If you'd like to go solar but still aren't sure which solar installer to go with, here are our recommendations for providers nearby:
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 Cannon
Factors that Affect Solar Panel Costs in Cannon
There are several factors that can influence your solar panel 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 panel system you need, 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. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Cannon, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That's why many Cannon homeowners choose to finance their solar panel systems to offset upfront costs. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to 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 solar company you hire to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Cannon, and each can charge different amounts for labor and equipment. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion 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 | $21,638 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,165 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,850 | 8.7 years |
| 12 kW | $2.75 | $23,132 | $44,692 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $52,692 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,848 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $69,163 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $77,634 | 7.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability 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.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to get the job done well. Another way you can check your installer's reputation is by reading reviews.
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 Cannon, MI Solar Cost FAQs
What is the average cost of installing solar panels in Cannon?
This is a difficult question to answer precisely, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Cannon?
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 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.
Is switching to solar power worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Cannon?
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 amount 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.