Solar Panel Cost Guide in Clay, MI (2024 Update)
- Clay Solar Installation Cost: $16,921
- 25-Year Savings: $13,409
- Payback Period: 16.8 Years
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Average Cost of Solar Panels in Clay
Find out what the average cost of solar panels are in Clay.
Although the national average of solar panels is $2.66 per watt, solar panels in Clay typically cost around 4.Using this figure, a typical 6.0-kW system would cost about $16,921 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Clay that can help you get a more accurate cost estimate for your home.
Solar savings over time in Clay
| Year | Return on Investment |
|---|---|
| 1 years | $-15,529 |
| 3 years | $-12,744 |
| 5 years | $-9,959 |
| 7 years | $-7,175 |
| 9 years | $-4,390 |
| 11 years | $-1,605 |
| 13 years | $1,179 |
| 15 years | $3,964 |
| 17 years | $6,749 |
| 19 years | $9,533 |
| 21 years | $12,318 |
| 23 years | $15,103 |
| 25 years | $17,887 |
Top Solar Installers in Clay
Trying to put up solar panels yourself can be a challenging project, which is why getting a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy needs, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Clay
Factors that Affect Solar Panel Costs in Clay
While the average cost of a solar system in Clay is $16,921, your actual cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Clay to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Even though solar loans make switching to solar energy more accessible for Clay homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Clay is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that offer a range of services for different budgets.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 promotions to compete with those major players.
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 | $7,580 | 17.5 years |
| 8 kW | $4.14 | $23,191 | $10,562 | 17.2 years |
| 10 kW | $4.06 | $28,420 | $13,770 | 16.8 years |
| 12 kW | $3.98 | $33,422 | $17,206 | 16.5 years |
| 14 kW | $3.90 | $38,196 | $20,870 | 16.2 years |
| 16 kW | $3.82 | $42,744 | $24,761 | 15.8 years |
| 18 kW | $3.74 | $47,064 | $28,879 | 15.5 years |
| 20 kW | $3.65 | $51,156 | $33,225 | 15.2 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:
- Solar Panel Brands: The brand of solar panel you want plays a part in which company you should opt for, since different companies offer different panels.
- Warranty: If you care about the endurance of your solar system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- 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: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
EcoWatch's Clay, MI Solar Cost FAQs
How much does it cost to install solar panels in Clay?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Clay?
A solar panel system isn’t free in Clay, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Does Clay have a net metering program?
Most states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates 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.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.