Solar Panel Cost Guide in Cutlerville, MI (2023 Update)
- Cutlerville Solar Installation Cost: $12,156
- 25-Year Savings: $22,748
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Cutlerville
Find out what the average cost of a solar system is in Cutlerville.
The average cost of a solar system in Cutlerville is 2.81 per watt. The average Cutlerville homeowner needs a 6.2-kilowatt system, which would cost about $12,156 with the federal tax credit, or $17,383 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The actual cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Cutlerville
| Year | Return on Investment |
|---|---|
| 1 years | $-10,760 |
| 3 years | $-7,968 |
| 5 years | $-5,175 |
| 7 years | $-2,383 |
| 9 years | $409 |
| 11 years | $3,202 |
| 13 years | $5,994 |
| 15 years | $8,786 |
| 17 years | $11,579 |
| 19 years | $14,371 |
| 21 years | $17,164 |
| 23 years | $19,956 |
| 25 years | $22,748 |
Top Solar Installers in Cutlerville
Many homeowners choose to use a solar installation company since installing solar panels yourself can be hard. Also, if you'd like to maximize your investment in solar, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you'd like to make the switch to solar but still aren't sure which solar panel installer to go with, here are our recommendations for providers nearby:
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 Cutlerville
Factors that Affect Solar Panel Costs in Cutlerville
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Cutlerville. The model of solar panels and equipment you want is another factor that will considerably impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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 solar panels out of pocket can be challenging. Solar loans are offered by most installers in Cutlerville, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies operating in Cutlerville, and each can charge different amounts for labor and equipment. Additionally, some companies in Cutlerville 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 end up saving you 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 | $21,638 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,165 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,850 | 8.7 years |
| 12 kW | $2.75 | $23,132 | $44,692 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $52,692 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,848 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $69,163 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $77,634 | 7.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While 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 make sure you take a look at their list of options before making your decision.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
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 Cutlerville, MI Solar Cost FAQs
How much does it cost to install solar panels in Cutlerville?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Cutlerville?
Leasing solar panels can be an attractive choice, as it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, solar panels can last 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.