Solar Panel Cost Guide in Coldwater, MI (2024 Update)
- Coldwater Solar Installation Cost: $17,237
- 25-Year Savings: $19,501
- Payback Period: 13.7 Years
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Average Cost of Solar Panels in Coldwater
Find out how much it might cost to install solar panels in Coldwater.
While the national average of solar panels is $2.66 per watt, solar panels in Coldwater typically cost around 4.The average Coldwater homeowner needs a 6.1-kilowatt system, which would cost about $17,237 with the federal tax credit, or $24,649 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $20,000 in savings on utility bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Coldwater for a quote for your home.
Solar savings over time in Coldwater
| Year | Return on Investment |
|---|---|
| 1 years | $-15,983 |
| 3 years | $-13,476 |
| 5 years | $-10,968 |
| 7 years | $-8,461 |
| 9 years | $-5,954 |
| 11 years | $-3,446 |
| 13 years | $-939 |
| 15 years | $1,568 |
| 17 years | $4,076 |
| 19 years | $6,583 |
| 21 years | $9,091 |
| 23 years | $11,598 |
| 25 years | $14,105 |
Top Solar Installers in Coldwater
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Using a solar panel installer can make switching to solar power much easier. Another upside of using a solar company is that they can help you maximize your return of investment by bringing down your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
If you're searching for a solar installer in Coldwater, we've compiled 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
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 Coldwater
Factors that Affect Solar Panel Costs in Coldwater
There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Coldwater, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Coldwater, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Coldwater is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices because of their bigger 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 | $13,359 | 14.3 years |
| 8 kW | $4.14 | $23,191 | $18,267 | 14.0 years |
| 10 kW | $4.06 | $28,420 | $23,402 | 13.7 years |
| 12 kW | $3.98 | $33,422 | $28,765 | 13.4 years |
| 14 kW | $3.90 | $38,196 | $34,355 | 13.2 years |
| 16 kW | $3.82 | $42,744 | $40,172 | 12.9 years |
| 18 kW | $3.74 | $47,064 | $46,217 | 12.6 years |
| 20 kW | $3.65 | $51,156 | $52,489 | 12.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project completion timeline.
- Warranty: If you’re worried about the endurance of your solar panels, verifying that your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. While 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 ask for their list of offerings before making your decision.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
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 Coldwater, MI Solar Cost FAQs
What is the average cost of installing solar panels in Coldwater?
This is a hard question to answer exactly, because the cost depends on a few different factors. Generally 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 other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider other than cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Coldwater is currently $202,055, so you could be looking at a value of about $8,284 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Coldwater is a rewarding investment.
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 household 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.