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
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 Fair Plain
Let’s take a look at the average cost of solar in Fair Plain.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fair Plain, the average cost of a solar system 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 prices above are just estimates to give you an idea of the cost of a solar panel system. The actual cost of going solar can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $19,000 over 20 years on utility bills.
To calculate your potential savings and connect with a local solar company, 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
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Taking advantage of an installer can make switching to solar power much easier. Plus, if you’d like to maximize your investment in solar power, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Fair Plain
Factors that Affect Solar Panel Costs in Fair Plain
Though the average cost of a solar system in Fair Plain is $16,836, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. There are many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Fair Plain to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to paying more over time due to interest.It’s wise to add 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 back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can play a role in your total costs. There are about 3 solar installation companies in Fair Plain, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: The type of solar panel you need to get plays a role in which installer you should go with, since different companies have access to different panels.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Contract: When looking through your solar installer’s contract, ask for clarification 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.
EcoWatch's Fair Plain, MI Solar Cost FAQs
How much does it cost to install solar panels in Fair Plain?
The average cost of solar panels in Fair Plain 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Fair Plain?
Leasing solar panels can be an option if you can’t pay upfront or secure 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 financial benefits from going solar.
Can you sell solar power back to the grid in Fair Plain?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 get between 20 and 35 panels to account for 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.