Solar Panel Cost Guide in Escanaba, MI (2024 Update)
- Escanaba Solar Installation Cost: $16,935
- 25-Year Savings: $29,399
- Payback Period: 10.3 Years
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Average Cost of Solar Panels in Escanaba
Let’s have a look at the average cost of solar panels in Escanaba.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Escanaba, the typical cost of a solar system is 4 per watt.Using this figure, a typical 6.0-kW system would cost about $16,935 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more.With typical savings of about $26,000 on electricity bills over 20 years, many homeowners in Escanaba find going solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in Escanaba for a custom estimate.
Solar savings over time in Escanaba
| Year | Return on Investment |
|---|---|
| 1 years | $-15,140 |
| 3 years | $-11,551 |
| 5 years | $-7,961 |
| 7 years | $-4,372 |
| 9 years | $-782 |
| 11 years | $2,807 |
| 13 years | $6,397 |
| 15 years | $9,986 |
| 17 years | $13,576 |
| 19 years | $17,165 |
| 21 years | $20,754 |
| 23 years | $24,344 |
| 25 years | $27,933 |
Top Solar Installers in Escanaba
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with a solar company can make switching to solar power much easier. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Escanaba
Factors that Affect Solar Panel Costs in Escanaba
For many Escanaba homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Escanaba, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are a lot of different solar panel brands and the one you choose also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose 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
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, 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 securing a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Escanaba, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $23,670 | 10.7 years |
| 8 kW | $4.14 | $23,191 | $32,015 | 10.5 years |
| 10 kW | $4.06 | $28,420 | $40,587 | 10.3 years |
| 12 kW | $3.98 | $33,422 | $49,387 | 10.1 years |
| 14 kW | $3.90 | $38,196 | $58,414 | 9.9 years |
| 16 kW | $3.82 | $42,744 | $67,668 | 9.7 years |
| 18 kW | $3.74 | $47,064 | $77,150 | 9.5 years |
| 20 kW | $3.65 | $51,156 | $86,859 | 9.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Contract: Though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before making your decision.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Escanaba, MI Solar Cost FAQs
What is the average cost of installing solar panels in Escanaba?
The average cost of solar panels in Escanaba is about $20,300 for a 5-kW system and $40,600 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 cost the most important thing to consider when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on electricity bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Escanaba, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
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.