Solar Panel Cost Guide in Decatur, MI (2023 Update)
- Decatur Solar Installation Cost: $11,415
- 25-Year Savings: $20,327
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Decatur
Find out what the average cost of installing solar panels is in Decatur.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Decatur, the average cost of a solar system is 2.81 per watt. Since a 5.8-kW system is needed to cover the energy consumption of a typical home in Decatur, the average price of going solar will be about $11,409 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary depending on several factors, such as what size system you need, your energy usage and what solar installer you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average homeowners in Decatur see about $21,000 in savings on utility bills over 20 years.
To get a free quote from a pre-vetted solar installer in Decatur, you can click the button below.
Solar savings over time in Decatur
| Year | Return on Investment |
|---|---|
| 1 years | $-11,309 |
| 3 years | $-11,098 |
| 5 years | $-10,886 |
| 7 years | $-10,674 |
| 9 years | $-10,463 |
| 11 years | $-10,251 |
| 13 years | $-10,040 |
| 15 years | $-9,828 |
| 17 years | $-9,616 |
| 19 years | $-9,405 |
| 21 years | $-9,193 |
| 23 years | $-8,981 |
| 25 years | $-8,770 |
Top Solar Installers in Decatur
Many homeowners opt for a solar panel company since trying to install solar panels by yourself can be hard. Another benefit of using a solar company is that they can help you make the most of your ROI by lowering your future costs of repairs and replacements due to warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some 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 Decatur
Factors that Affect Solar Panel Costs in Decatur
For many Decatur homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Decatur, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Decatur, 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 gauge by looking at past power bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Decatur, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Decatur to be prohibitively expensive, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides access to financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you can only 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installer you select will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also is 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 | $2.92 | $12,274 | $20,543 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,706 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $35,026 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,503 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $50,137 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $57,929 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,879 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,985 | 8.1 years |
How to Save on Solar Panels
The solar company you choose will impact not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, including:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Contract: Before signing a contract with a solar company, make sure you look it over carefully 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 Panel Brands: The type of solar panel you want plays a part in which installer you should go with, since different companies provide different panels.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
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 Decatur, MI Solar Cost FAQs
What is the average cost of installing solar panels in Decatur?
The average cost of solar panels in Decatur is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual 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.
Is it better to lease or buy solar panels in Decatur?
Leasing solar panels can be an option if you are unable 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 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 savings from going solar.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for 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 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.