Solar Panel Cost Guide in Fair Plain, MI (2024 Update)
- Fair Plain Solar Installation Cost: $16,836
- 25-Year Savings: $18,308
- Payback Period: 14.0 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Fair Plain
Let’s take a look at the average cost of solar in Fair Plain.
The average cost of solar panels in Fair Plain is 4 per watt.Using this figure, a typical 5.9-kW system would cost about $16,836 before the 0 federal solar tax credit is applied.
The actual price you pay can go above or below the average in Fair Plain based on several factors, such as the brand of solar panels you choose and the solar contractor you hire.Many homeowners find going solar is a solid investment. The average homeowner in Fair Plain can save about $19,000 on their energy bills over 20 years.
To get a free estimate from a top solar installer in Fair Plain, you can click the button below.
Solar savings over time in Fair Plain
Year | Return on Investment |
---|---|
1 years | $-15,611 |
3 years | $-13,163 |
5 years | $-10,714 |
7 years | $-8,265 |
9 years | $-5,816 |
11 years | $-3,367 |
13 years | $-918 |
15 years | $1,531 |
17 years | $3,979 |
19 years | $6,428 |
21 years | $8,877 |
23 years | $11,326 |
25 years | $13,775 |
Top Solar Installers in Fair Plain
Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be challenging. Some solar installers, particularly local ones, can help you make the most of incentives in Fair Plain, thereby optimizing your ROI.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
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 Fair Plain
Factors that Affect Solar Panel Costs in Fair Plain
For many Fair Plain homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Fair Plain, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Fair Plain, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past electricity bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Fair Plain, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Fair Plain, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s vital to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of green energy solutions in Fair Plain, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.Additionally, some companies in Fair Plain are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $12,611 | 14.6 years |
8 kW | $4.14 | $23,191 | $17,269 | 14.3 years |
10 kW | $4.06 | $28,420 | $22,155 | 14.0 years |
12 kW | $3.98 | $33,422 | $27,268 | 13.8 years |
14 kW | $3.90 | $38,196 | $32,608 | 13.5 years |
16 kW | $3.82 | $42,744 | $38,176 | 13.2 years |
18 kW | $3.74 | $47,064 | $43,971 | 12.9 years |
20 kW | $3.65 | $51,156 | $49,994 | 12.6 years |
How to Save on Solar Panels
The solar company you go with 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 several important things you should consider, including:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been operating for many years most likely provide good-quality solar panel installation and expertise.
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
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 Fair Plain, MI Solar Cost FAQs
How much does it cost to install solar panels in Fair Plain?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Fair Plain?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of 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 bang for your buck from going solar.
Does Fair Plain have a net metering program?
Most states have net metering programs of some kind. Through these, you can receive compensation for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.