Solar Panel Cost Guide in Decatur, MI (2024 Update)
- Decatur Solar Installation Cost: $16,493
- 25-Year Savings: $20,327
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Decatur
Let’s have a look at the average cost of solar in Decatur.
While the national average of solar panels is $2.66 per watt, solar panels in Decatur typically cost around 4.The average Decatur homeowner needs a 5.8-kilowatt system, which would cost about $16,493 with the federal tax credit, or $23,585 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on multiple factors, such as what size system you need, your energy usage and what company you go with.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Decatur find investing in solar can pay off big.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Decatur
| Year | Return on Investment |
|---|---|
| 1 years | $-15,239 |
| 3 years | $-12,732 |
| 5 years | $-10,225 |
| 7 years | $-7,717 |
| 9 years | $-5,210 |
| 11 years | $-2,702 |
| 13 years | $-195 |
| 15 years | $2,312 |
| 17 years | $4,820 |
| 19 years | $7,327 |
| 21 years | $9,835 |
| 23 years | $12,342 |
| 25 years | $14,849 |
Top Solar Installers in Decatur
When going solar, many homeowners opt to hire a solar installer since DIY solar panel installation can be a difficult project. Plus, if you’re not certain what brand of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some near you:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Decatur
Factors that Affect Solar Panel Costs in Decatur
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Decatur: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are provided by most installers in Decatur, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Decatur are more knowledgeable 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 | $4.22 | $17,734 | $15,083 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,566 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,276 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,213 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,377 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,769 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,389 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $58,235 | 11.7 years |
How to Save on Solar Panels
There are numerous companies available in Decatur, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Decatur, MI Solar Cost FAQs
How much does it cost to install solar panels in Decatur?
The average cost of solar panels in Decatur is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Decatur?
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.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.