Solar Panel Cost Guide in Cooper, MI (2024 Update)
- Cooper Solar Installation Cost: $17,318
- 25-Year Savings: $22,700
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Cooper
Here’s how much it might cost to switch to solar power in Cooper.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Cooper, the typical cost of a solar system is 4 per watt.To account for the typical energy usage of the average home in Cooper, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,318, or $24,765 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Cooper homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Cooper find installing solar panels has a decent ROI.
To receive a free quote from a vetted solar installer in Cooper, you can click the button below.
Solar savings over time in Cooper
Year | Return on Investment |
---|---|
1 years | $-16,065 |
3 years | $-13,557 |
5 years | $-11,050 |
7 years | $-8,542 |
9 years | $-6,035 |
11 years | $-3,528 |
13 years | $-1,020 |
15 years | $1,487 |
17 years | $3,995 |
19 years | $6,502 |
21 years | $9,009 |
23 years | $11,517 |
25 years | $14,024 |
Top Solar Installers in Cooper
Installing solar panels on your own can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and system component replacements.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers nearby:
See all of the solar companies in Cooper
Factors that Affect Solar Panel Costs in Cooper
There are a number of factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
When it comes to estimating the cost of a solar system in Cooper, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past power bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.The kind of solar equipment you choose can increase or decrease your cost 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 in the long run on your electric bills. Additionally, extra products, like solar batteries, can bump up your total well above the Cooper average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Cooper homeowners opt to finance their solar panel systems to offset upfront costs.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
The remaining major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Cooper, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.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 go with the 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 | $16,418 | 13.0 years |
8 kW | $4.14 | $23,191 | $22,346 | 12.7 years |
10 kW | $4.06 | $28,420 | $28,501 | 12.5 years |
12 kW | $3.98 | $33,422 | $34,883 | 12.2 years |
14 kW | $3.90 | $38,196 | $41,492 | 12.0 years |
16 kW | $3.82 | $42,744 | $48,329 | 11.7 years |
18 kW | $3.74 | $47,064 | $55,394 | 11.5 years |
20 kW | $3.65 | $51,156 | $62,685 | 11.2 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: The model of solar panel you want to get plays a part in which installer you should go with, since different companies offer different panels.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
EcoWatch's Cooper, MI Solar Cost FAQs
What is the average cost of installing solar panels in Cooper?
The average cost of solar panels in Cooper is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Cooper?
Leasing solar panels can be an attractive choice, as it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Cooper, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Cooper?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
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.