Solar Panel Cost Guide in Ecorse, MI (2024 Update)
- Ecorse Solar Installation Cost: $17,379
- 25-Year Savings: $13,091
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Ecorse
We break down average solar pricing in Ecorse.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ecorse, the average cost of solar panels is 4 per watt.The average Ecorse homeowner needs a 6.1-kilowatt system, which would cost about $17,379 with the federal tax credit, or $24,852 before the 0 tax credit is applied.
The true cost of your system can go above or below the average in Ecorse depending on a variety of factors, such as the type of solar panels you choose and the solar installer you hire.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $16,000 in savings on utility bills over 20 years.
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Solar savings over time in Ecorse
| Year | Return on Investment |
|---|---|
| 1 years | $-15,987 |
| 3 years | $-13,202 |
| 5 years | $-10,417 |
| 7 years | $-7,633 |
| 9 years | $-4,848 |
| 11 years | $-2,063 |
| 13 years | $721 |
| 15 years | $3,506 |
| 17 years | $6,291 |
| 19 years | $9,075 |
| 21 years | $11,860 |
| 23 years | $14,645 |
| 25 years | $17,429 |
Top Solar Installers in Ecorse
Many homeowners opt for a solar panel company since trying to install solar panels yourself can be a lot of work. Local solar installers can also help you maximize your return on investment by assisting with any local incentives and by offering warranties and repairs.
There are various licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Ecorse
Factors that Affect Solar Panel Costs in Ecorse
Though the average cost of a solar system in Ecorse is $17,379, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar energy 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 of solar panels and equipment you get is another factor that will greatly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Ecorse to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also result in a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Ecorse is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services at different price points.Additionally, some companies in Ecorse 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 | $4.22 | $17,734 | $6,913 | 18.0 years |
| 8 kW | $4.14 | $23,191 | $9,672 | 17.6 years |
| 10 kW | $4.06 | $28,420 | $12,658 | 17.3 years |
| 12 kW | $3.98 | $33,422 | $15,872 | 17.0 years |
| 14 kW | $3.90 | $38,196 | $19,313 | 16.6 years |
| 16 kW | $3.82 | $42,744 | $22,981 | 16.3 years |
| 18 kW | $3.74 | $47,064 | $26,877 | 15.9 years |
| 20 kW | $3.65 | $51,156 | $31,000 | 15.6 years |
How to Save on Solar Panels
The solar installer you opt for will affect 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 a few important things you should take into account, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The model of solar panel you’d like plays a role in which company you should go with, since different companies offer different panels.
- Contract: Before signing a contract with a solar company, make sure you read it through 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 component breaks or malfunctions and what services you can expect from them.
EcoWatch's Ecorse, MI Solar Cost FAQs
How much does it cost to install solar panels in Ecorse?
The average cost of solar panels in Ecorse is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ecorse is currently $68,320, so you can expect a value of about $2,801 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Ecorse is a rewarding investment.
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 goes down 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.