Solar Panel Cost Guide in Fenton, MI (2023 Update)
- Fenton Solar Installation Cost: $12,263
- 25-Year Savings: $17,949
- Payback Period: 10.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Fenton
Find out how much it might cost to make the switch to solar in Fenton.
In Fenton, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.2-kW system would cost about $12,254 before the 30% 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 true cost of going solar can vary quite a bit depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Fenton can save about $18,000 on their power bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Fenton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,009 |
| 3 years | $-8,502 |
| 5 years | $-5,994 |
| 7 years | $-3,487 |
| 9 years | $-979 |
| 11 years | $1,528 |
| 13 years | $4,035 |
| 15 years | $6,543 |
| 17 years | $9,050 |
| 19 years | $11,557 |
| 21 years | $14,065 |
| 23 years | $16,572 |
| 25 years | $19,080 |
Top Solar Installers in Fenton
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you'd like to make the switch to solar but still aren't certain which solar panel installer to go with, here are our suggestions for providers in Fenton:
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 Fenton
Factors that Affect Solar Panel Costs in Fenton
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Fenton: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Fenton average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Fenton, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your all-in costs, so it's important to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies operating throughout Fenton, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that provides the products, warranties and services you want and also is within your budget.
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 | $16,803 | 10.6 years |
| 8 kW | $2.87 | $16,051 | $22,718 | 10.4 years |
| 10 kW | $2.81 | $19,670 | $28,791 | 10.1 years |
| 12 kW | $2.75 | $23,132 | $35,022 | 9.9 years |
| 14 kW | $2.70 | $26,436 | $41,409 | 9.7 years |
| 16 kW | $2.64 | $29,584 | $47,955 | 9.5 years |
| 18 kW | $2.59 | $32,574 | $54,657 | 9.3 years |
| 20 kW | $2.53 | $35,406 | $61,517 | 9.1 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Although there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Although reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Fenton, MI Solar Cost FAQs
What is the average cost of installing solar panels in Fenton?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Fenton?
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 don't have access to 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.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $969.23 per year.
How long do solar panels last in Fenton?
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 level 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.