Solar Panel Cost Guide in Exeter, MI (Mar 2023)
- Exeter Solar Installation Cost: $11,822
- 25-Year Savings: $13,298
- Payback Period: 11.8 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Exeter
We go over average solar pricing in Exeter.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Exeter, the typical cost of solar panels is 2.81 per watt. Using this figure, a typical 6.0-kW system would cost about $11,822 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Exeter homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Exeter find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in your area for a custom estimate.
Solar savings over time in Exeter
| Year | Return on Investment |
|---|---|
| 1 years | $-10,817 |
| 3 years | $-8,807 |
| 5 years | $-6,798 |
| 7 years | $-4,788 |
| 9 years | $-2,779 |
| 11 years | $-769 |
| 13 years | $1,241 |
| 15 years | $3,250 |
| 17 years | $5,260 |
| 19 years | $7,269 |
| 21 years | $9,279 |
| 23 years | $11,288 |
| 25 years | $13,298 |
Top Solar Installers in Exeter
When going solar, many homeowners opt to go with a solar installation company since installing a solar system yourself can be a time-consuming project. The expertise that solar companies offer can be useful as well, particularly if you aren't sure what brand of solar equipment would be right for your home.
If you'd like to start using solar energy but still aren't certain which solar installer to go with, here are our recommendations for providers near you:
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 Exeter
Factors that Affect Solar Panel Costs in Exeter
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that determine your overall cost in Exeter: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $2,810. The brand of solar panels and equipment you get is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond 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 searching for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are offered by most installers in Exeter, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Exeter, you'll have lots of options to choose from, but each comes at various price points for labor and equipment. The company's size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due 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 promotion 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 | $12,818 | 12.2 years |
| 8 kW | $2.87 | $16,051 | $17,405 | 12.0 years |
| 10 kW | $2.81 | $19,670 | $22,150 | 11.8 years |
| 12 kW | $2.75 | $23,132 | $27,052 | 11.5 years |
| 14 kW | $2.70 | $26,436 | $32,112 | 11.3 years |
| 16 kW | $2.64 | $29,584 | $37,328 | 11.1 years |
| 18 kW | $2.59 | $32,574 | $42,703 | 10.8 years |
| 20 kW | $2.53 | $35,406 | $48,234 | 10.6 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 satisfied reviews from past customers.
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you want a specific brand, make sure the solar installer you're considering has it.
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Exeter, MI Solar Cost FAQs
How much does it cost to install solar panels in Exeter?
The average cost of solar panels in Exeter 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 kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Exeter?
Solar panels aren't free in Exeter, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $836.40 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.