Solar Panel Cost Guide in Coloma, MI (2024 Update)

  • Coloma Solar Installation Cost: $16,836
  • 25-Year Savings: $19,377
  • Payback Period: 13.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Coloma

Find out what the average cost of solar panels are in Coloma.

In Coloma, solar panels cost about 4 per watt on average.The average Coloma homeowner needs a 5.9-kilowatt system, which would cost about $16,836 with the federal tax credit, or $24,075 before the 0 tax credit is applied.

The prices above are just estimates to give you an idea of how much a solar panel system could cost. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy usage and what company you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $20,000 over 20 years on power bills.

For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Coloma

Year Return on Investment
1 years $-15,597
3 years $-13,119
5 years $-10,641
7 years $-8,162
9 years $-5,684
11 years $-3,206
13 years $-728
15 years $1,750
17 years $4,228
19 years $6,706
21 years $9,184
23 years $11,663
25 years $14,141

Top Solar Installers in Coloma

Putting up solar panels on your own can be a challenging undertaking, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for your family.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Coloma

Factors that Affect Solar Panel Costs in Coloma

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Coloma: 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

The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, extra products, such as solar batteries, can bump up your total well above the Coloma average.

Solar Financing Terms

For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Coloma, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.While solar loans make going solar more accessible for Coloma homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Coloma is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Some companies only sell high-quality, high-efficiency and high-price 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 find a company that provides the products, warranties and services you’re looking for and also fits 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 $4.22 $17,734 $13,693 14.1 years
8 kW $4.14 $23,191 $18,712 13.8 years
10 kW $4.06 $28,420 $23,959 13.6 years
12 kW $3.98 $33,422 $29,433 13.3 years
14 kW $3.90 $38,196 $35,134 13.0 years
16 kW $3.82 $42,744 $41,063 12.8 years
18 kW $3.74 $47,064 $47,219 12.5 years
20 kW $3.65 $51,156 $53,602 12.2 years

How to Save on Solar Panels

Since the kind of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Contract: Before signing a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
  • Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can research your installer’s reputation is by reading reviews.
  • Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should opt for, since different companies have access to different panels.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be completed and how long it will take.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Coloma, MI Solar Cost FAQs

How much does it cost to install solar panels in Coloma?

This is a difficult question to answer exactly, because the cost depends on a variety of 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.

What other factors should I consider in addition to cost when buying solar panels?

The initial cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.

Can solar panels eliminate my power bills?

Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,047.58 per year.

How long do solar panels last in Coloma?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can continue to use them at a lower efficiency.

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.

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