Solar Panel Cost Guide in Cascade, MI (2023 Update)
- Cascade Solar Installation Cost: $12,156
- 25-Year Savings: $22,502
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cascade
Let's have a look at the average cost of solar in Cascade.
Although the national average of solar panels is $2.66 per watt, solar panels in Cascade generally cost around 2.81. Because a 6.2-kW system is needed to cover the energy needs of a typical home in Cascade, 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 the cost of a solar panel system. The true cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what company you go with. But, once you've paid the initial cost of installation, the ROI for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on power bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Cascade
| Year | Return on Investment |
|---|---|
| 1 years | $-10,770 |
| 3 years | $-7,997 |
| 5 years | $-5,224 |
| 7 years | $-2,452 |
| 9 years | $321 |
| 11 years | $3,093 |
| 13 years | $5,866 |
| 15 years | $8,639 |
| 17 years | $11,411 |
| 19 years | $14,184 |
| 21 years | $16,957 |
| 23 years | $19,729 |
| 25 years | $22,502 |
Top Solar Installers in Cascade
Many homeowners choose to hire a solar installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. The expertise that solar installers provide can be helpful as well, particularly if you aren't sure what kind of solar equipment you need.
If you're on the hunt for a solar company in Cascade, we've organized 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 Cascade
Factors that Affect Solar Panel Costs in Cascade
The cost of installing a solar system in Cascade can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Cascade homeowners decide to finance their solar panel systems to make going solar more affordable. 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can affect the cost. Cascade's solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 offers the products, warranties and services you want and also is within 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 | $2.92 | $12,274 | $21,399 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $28,846 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,451 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $44,213 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $52,133 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,210 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $68,444 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,836 | 7.9 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Look through the contract terms thoroughly to make sure you understand the total cost, project completion timeline rebates and warranties.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what needs to be done before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
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 Cascade, MI Solar Cost FAQs
What is the average cost of installing solar panels in Cascade?
This is a hard question to answer exactly, 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 higher quality panels, or if you have above-average energy consumption. On the flip side, 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 Cascade?
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 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 financial benefits from going solar.
Do solar panels increase how much your home is worth?
Solar panels can increase your property's value considerably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.