Solar Panel Cost Guide in Corunna, MI (2023 Update)
- Corunna Solar Installation Cost: $12,210
- 25-Year Savings: $23,094
- Payback Period: 8.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Corunna
Find out what the average cost of installing solar panels is in Corunna.
In Corunna, solar panels cost about 2.81 per watt on average. The average solar panel system size in Corunna is around 6.2 kilowatts, meaning a cost of about $12,215 for a solar installation, or $17,467 before the 30% federal solar tax credit is applied.
Keep in mind 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 equipment you choose, your solar contractor and more. But, once you've paid the initial cost of installation, the savings for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on electricity bills.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Corunna
| Year | Return on Investment |
|---|---|
| 1 years | $-10,956 |
| 3 years | $-8,449 |
| 5 years | $-5,942 |
| 7 years | $-3,434 |
| 9 years | $-927 |
| 11 years | $1,581 |
| 13 years | $4,088 |
| 15 years | $6,595 |
| 17 years | $9,103 |
| 19 years | $11,610 |
| 21 years | $14,118 |
| 23 years | $16,625 |
| 25 years | $19,132 |
Top Solar Installers in Corunna
Installing solar panels yourself can be a dangerous task, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your family.
Working with a professional solar installer can help your solar project go smoothly. Here are our recommendations:
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 Corunna
Factors that Affect Solar Panel Costs in Corunna
For many Corunna homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Corunna, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main 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 $2,810. 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, more efficient panels could save you more in the long run on your energy bills. Additionally, add-on products, such as solar batteries, can bring your total well above the Corunna average.
Solar Financing Terms
Most solar installers in Corunna provide solar loans, which reduce your upfront costs of installing solar panels. Though solar loans make switching to solar energy more accessible for Corunna homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar system can affect your pricing. Corunna's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Corunna are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, 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 | $21,850 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,448 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,204 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,117 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $53,187 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,415 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $69,799 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $78,342 | 7.8 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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 Corunna, MI Solar Cost FAQs
What is the average cost of installing solar panels in Corunna?
This is a hard question to answer exactly, because the cost depends on a variety of 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 needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Corunna?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 financial benefits from going solar.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses 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.