Solar Panel Cost Guide in Erie, MI (2024 Update)
- Erie Solar Installation Cost: $17,071
- 25-Year Savings: $17,589
- Payback Period: 14.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Erie
Let’s have a look at the average cost of solar panels in Erie.
The average cost of solar panels in Erie is 4 per watt.Using this figure, a typical 6.0-kW system would cost about $17,071 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary quite a bit based on a few factors, such as what size system you need, your energy consumption and what company you go with.With average savings of about $19,000 on power bills over 20 years, many homeowners in Erie find investing in solar can be quite rewarding.
You can click the button below to get connected with a top solar company in Erie that can help you get a more accurate cost estimate for your home.
Solar savings over time in Erie
| Year | Return on Investment |
|---|---|
| 1 years | $-15,817 |
| 3 years | $-13,310 |
| 5 years | $-10,802 |
| 7 years | $-8,295 |
| 9 years | $-5,788 |
| 11 years | $-3,280 |
| 13 years | $-773 |
| 15 years | $1,735 |
| 17 years | $4,242 |
| 19 years | $6,749 |
| 21 years | $9,257 |
| 23 years | $11,764 |
| 25 years | $14,272 |
Top Solar Installers in Erie
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Using a solar panel installer can make converting to solar power much easier. Local solar installers can also help you optimize your return on investment by walking you through any local incentives you can benefit from and by providing warranties and repairs.
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
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 Erie
Factors that Affect Solar Panel Costs in Erie
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power production use 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 $4,060.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your energy bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Erie average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average.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 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 securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies operating throughout Erie, and each can charge different amounts for labor and equipment.Additionally, some companies in Erie are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $11,637 | 15.1 years |
| 8 kW | $4.14 | $23,191 | $15,971 | 14.8 years |
| 10 kW | $4.06 | $28,420 | $20,532 | 14.5 years |
| 12 kW | $3.98 | $33,422 | $25,321 | 14.2 years |
| 14 kW | $3.90 | $38,196 | $30,337 | 13.9 years |
| 16 kW | $3.82 | $42,744 | $35,580 | 13.6 years |
| 18 kW | $3.74 | $47,064 | $41,051 | 13.4 years |
| 20 kW | $3.65 | $51,156 | $46,749 | 13.1 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining 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 consider, including:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
- 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 if the company goes out of business.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
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 Erie, MI Solar Cost FAQs
What is the average cost of installing solar panels in Erie?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Erie?
Leasing solar panels can be an appealing choice, because it typically comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily 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 buy 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.