Solar Panel Cost Guide in Cooper, MI (2023 Update)
- Cooper Solar Installation Cost: $11,986
- 25-Year Savings: $22,700
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Cooper
Let's take a look at the average cost of solar panels in Cooper.
While the national average of solar panels is $2.66 per watt, solar panels in Cooper generally cost about 2.81. Using this figure, a typical 6.1-kW system would cost about $11,979 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit depending on a few factors, such as what size system you need, your energy consumption and what installation company you go with. But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $22,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar installer in Cooper for a quote for your home.
Solar savings over time in Cooper
| Year | Return on Investment |
|---|---|
| 1 years | $-11,871 |
| 3 years | $-11,639 |
| 5 years | $-11,408 |
| 7 years | $-11,177 |
| 9 years | $-10,946 |
| 11 years | $-10,714 |
| 13 years | $-10,483 |
| 15 years | $-10,252 |
| 17 years | $-10,021 |
| 19 years | $-9,790 |
| 21 years | $-9,558 |
| 23 years | $-9,327 |
| 25 years | $-9,096 |
Top Solar Installers in Cooper
Although you can install solar panels yourself, it takes extra energy and handiness. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you want, a solar expert can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can install solar panels for you. 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 Cooper
Factors that Affect Solar Panel Costs in Cooper
For many Cooper homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Cooper, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy 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 around $2,810. The model of solar panels and equipment you want is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to decide on 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 for a solar system that's in your budget.
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 Cooper, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. Though solar loans make switching to solar energy more accessible for Cooper homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can impact the cost. Cooper's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $21,878 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,486 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,251 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,173 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $53,252 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,489 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $69,884 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,435 | 7.8 years |
How to Save on Solar Panels
There are many companies to choose from in Cooper, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Contract: Before signing a contract with a solar company, make sure you read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
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 Cooper, MI Solar Cost FAQs
What is the average cost of installing solar panels in Cooper?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Cooper?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $1,138.41 per year.
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 level 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.