Solar Panel Cost Guide in Eaton Rapids, MI (2023 Update)
- Eaton Rapids Solar Installation Cost: $12,140
- 25-Year Savings: $21,549
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Eaton Rapids
Find out what the average cost of solar panels are in Eaton Rapids.
In Eaton Rapids, solar panels cost about 2.81 per watt on average. The average solar panel system size in Eaton Rapids is around 6.2 kilowatts, meaning a cost of about $12,136 for a solar installation, or $17,354 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely vary based on your energy needs and what company you want to go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Eaton Rapids can save about $21,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Eaton Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-10,886 |
| 3 years | $-8,378 |
| 5 years | $-5,871 |
| 7 years | $-3,364 |
| 9 years | $-856 |
| 11 years | $1,651 |
| 13 years | $4,158 |
| 15 years | $6,666 |
| 17 years | $9,173 |
| 19 years | $11,681 |
| 21 years | $14,188 |
| 23 years | $16,695 |
| 25 years | $19,203 |
Top Solar Installers in Eaton Rapids
Many homeowners opt for a solar panel installer since trying to install solar panels on your own can be hard. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Eaton Rapids, we've organized a list of our top suggestions here:
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 Eaton Rapids
Factors that Affect Solar Panel Costs in Eaton Rapids
Though the average cost of a solar system in Eaton Rapids is $12,136, your final cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production need 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. There are many different solar panel brands and the one you pick also changes the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Eaton Rapids have solar loans, which reduce the initial cost of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to figure out the cost of solar for your home or business in Eaton Rapids is the company you hire to install your solar system. As with choosing a company to install new cabinets, for instance, there's no shortage of solar installers that offer a range of services at different costs. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $20,477 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,618 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,916 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,371 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $49,983 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $57,753 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,681 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,765 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you want to install plays a role in which installer you should go with, since different companies provide different panels.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of 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 previous customers.
- Contract: It's important to read through your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Eaton Rapids, MI Solar Cost FAQs
How much does it cost to install solar panels in Eaton Rapids?
The average cost of solar panels in Eaton Rapids 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 kind 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 Eaton Rapids?
Leasing solar panels can be an option if you can't 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 bang for your buck from going solar.
Can you sell solar power back to the grid in Eaton Rapids?
The majority of states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 the amount of 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 account for 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.