Solar Panel Cost Guide in Exeter, MI (2023 Update)
- Exeter Solar Installation Cost: $11,815
- 25-Year Savings: $13,305
- Payback Period: 11.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Exeter
Find out how much it might cost to go solar in Exeter.
The national average cost of solar panels is $2.66 per watt, but in Exeter it's 2.81 per watt. The average solar panel system size in Exeter is around 6.0 kilowatts, meaning a cost of about $11,822 for a solar installation, or $16,905 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of equipment you want, your solar contractor and more. With typical savings of about $16,000 on utility bills over 20 years, many homeowners in Exeter find installing solar panels has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Exeter
Year | Return on Investment |
---|---|
1 years | $-10,423 |
3 years | $-7,638 |
5 years | $-4,853 |
7 years | $-2,069 |
9 years | $716 |
11 years | $3,501 |
13 years | $6,285 |
15 years | $9,070 |
17 years | $11,855 |
19 years | $14,639 |
21 years | $17,424 |
23 years | $20,209 |
25 years | $22,993 |
Top Solar Installers in Exeter
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Using an installer can make your swap to solar power much easier. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some 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 Exeter
Factors that Affect Solar Panel Costs in Exeter
There are a number of criteria that can play into your solar panel 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
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar panels and equipment you want is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, 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 falls within your budget.
Solar Financing Terms
Most solar companies in Exeter offer solar loans, which reduce the initial cost of installing solar. When estimating 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
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.