Solar Panel Cost Guide in Commerce, MI (2023 Update)
- Commerce Solar Installation Cost: $12,151
- 25-Year Savings: $12,969
- Payback Period: 12.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Commerce
Find out what the average cost of solar panel installation is in Commerce.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Commerce, the typical cost of a solar system is 2.81 per watt. The average solar panel system size in Commerce is around 6.2 kilowatts, meaning a cost of about $12,156 for a solar installation, or $17,383 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Commerce based on several factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $15,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Commerce
| Year | Return on Investment |
|---|---|
| 1 years | $-12,067 |
| 3 years | $-11,899 |
| 5 years | $-11,732 |
| 7 years | $-11,565 |
| 9 years | $-11,397 |
| 11 years | $-11,230 |
| 13 years | $-11,062 |
| 15 years | $-10,895 |
| 17 years | $-10,727 |
| 19 years | $-10,560 |
| 21 years | $-10,392 |
| 23 years | $-10,225 |
| 25 years | $-10,057 |
Top Solar Installers in Commerce
When switching to solar energy, many homeowners choose to hire a solar installer since putting up solar panels yourself can be a time-consuming project. In addition, if you'd like to maximize your investment in solar power, going with a solar company can help with that as well. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Commerce
Factors that Affect Solar Panel Costs in Commerce
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Commerce. 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 get 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 in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Commerce average.
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 Commerce homeowners choose to finance their solar panel systems to make going solar more affordable. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Commerce, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Additionally, some companies in Commerce have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $12,125 | 12.6 years |
| 8 kW | $2.87 | $16,051 | $16,481 | 12.3 years |
| 10 kW | $2.81 | $19,670 | $20,995 | 12.1 years |
| 12 kW | $2.75 | $23,132 | $25,666 | 11.9 years |
| 14 kW | $2.70 | $26,436 | $30,494 | 11.6 years |
| 16 kW | $2.64 | $29,584 | $35,480 | 11.4 years |
| 18 kW | $2.59 | $32,574 | $40,623 | 11.1 years |
| 20 kW | $2.53 | $35,406 | $45,924 | 10.9 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which brand 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 take a look at their list of offerings before making your decision.
- Contract: Before you sign a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
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 Commerce, MI Solar Cost FAQs
What is the average cost of installing solar panels in Commerce?
The average cost of solar panels in Commerce is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can solar panels eliminate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $813.30 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.