Solar Panel Cost Guide in Fenton, MI (2023 Update)
- Fenton Solar Installation Cost: $12,254
- 25-Year Savings: $17,958
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fenton
We go over average solar pricing in Fenton.
While the national average of solar panels is $2.66 per watt, solar panels in Fenton generally cost around 2.81. The average Fenton homeowner needs a 6.2-kilowatt system, which would cost about $12,254 with the federal tax credit, or $17,523 before the 30% tax credit is applied.
The actual price you pay can go above or below the average in Fenton based on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. With typical savings of about $18,000 on electricity bills over 20 years, many homeowners in Fenton find installing solar panels has a decent ROI.
To receive a free quote from a top solar installer in Fenton, you can click the button below.
Solar savings over time in Fenton
| Year | Return on Investment |
|---|---|
| 1 years | $-11,046 |
| 3 years | $-8,629 |
| 5 years | $-6,212 |
| 7 years | $-3,795 |
| 9 years | $-1,378 |
| 11 years | $1,039 |
| 13 years | $3,456 |
| 15 years | $5,873 |
| 17 years | $8,290 |
| 19 years | $10,707 |
| 21 years | $13,124 |
| 23 years | $15,541 |
| 25 years | $17,958 |
Top Solar Installers in Fenton
When making the switch to solar, many homeowners decide to go with a solar company since installing a solar system yourself can be a difficult project. Plus, if you'd like to maximize your investment in solar, going with a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
You can get a free estimate from a local solar installer on how much solar panels 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 Fenton
Factors that Affect Solar Panel Costs in Fenton
There are a number of criteria that can determine 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
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,810. The brand of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider 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 falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Fenton, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
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. Additionally, some companies in Fenton are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $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 be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, including:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated 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 previous customers.
- Contract: When reading over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
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
How much does it cost to install solar panels in Fenton?
The average cost of solar panels in Fenton is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will solar panels impact how much my home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Fenton is currently $192,554, so you can look forward to a value of about $7,895 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Fenton is a rewarding investment.
How long do solar panels last in Fenton?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using them at a lower efficiency.
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.