Solar Panel Cost Guide in Egelston, MI (2023 Update)
- Egelston Solar Installation Cost: $11,315
- 25-Year Savings: $23,189
- Payback Period: 8.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Egelston
Let's take a look at the average cost of solar panels in Egelston.
In Egelston, solar panels cost about 2.81 per watt on average. Using this figure, a typical 5.8-kW system would cost about $11,310 before the 30% federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Egelston depending on a few factors, such as the model of solar panels you choose and the solar installer you hire. Despite the significant upfront cost, the average Egelston homeowner can save about $23,000 on their electricity bills over 20 years, which is one of the benefits of solar.
Click the button below to get connected to a top solar company in your area for a personalized quote.
Solar savings over time in Egelston
| Year | Return on Investment |
|---|---|
| 1 years | $-10,061 |
| 3 years | $-7,554 |
| 5 years | $-5,047 |
| 7 years | $-2,539 |
| 9 years | $-32 |
| 11 years | $2,476 |
| 13 years | $4,983 |
| 15 years | $7,490 |
| 17 years | $9,998 |
| 19 years | $12,505 |
| 21 years | $15,012 |
| 23 years | $17,520 |
| 25 years | $20,027 |
Top Solar Installers in Egelston
Although you can install solar panels on your own, it requires extra labor and know-how. That's why most people choose to go with a solar panel installer. Another good thing about using a reliable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
If you'd like to go solar but still aren't certain which solar system company 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 Egelston
Factors that Affect Solar Panel Costs in Egelston
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Egelston: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Egelston. There are many different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Egelston to be prohibitively expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When trying to figure out 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 lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you choose will play a role in your total cost to go solar. Different companies will charge different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $23,715 | 8.5 years |
| 8 kW | $2.87 | $16,051 | $31,934 | 8.4 years |
| 10 kW | $2.81 | $19,670 | $40,311 | 8.2 years |
| 12 kW | $2.75 | $23,132 | $48,846 | 8.0 years |
| 14 kW | $2.70 | $26,436 | $57,538 | 7.9 years |
| 16 kW | $2.64 | $29,584 | $66,387 | 7.7 years |
| 18 kW | $2.59 | $32,574 | $75,393 | 7.5 years |
| 20 kW | $2.53 | $35,406 | $84,557 | 7.4 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: The model of solar panel you want to install plays a part in which company you should go with, since different companies provide different panels.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should secure and what the project timeline is.
- Warranty: If you're worried about the longevity of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Egelston, MI Solar Cost FAQs
What is the average cost of installing solar panels in Egelston?
The average cost of solar panels in Egelston 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 things like the type 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 Egelston?
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 don't have access to 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 savings from going solar.
Can you sell solar power back to the grid in Egelston?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 higher 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.