Solar Panel Cost Guide in Ferrysburg, MI (2023 Update)
- Ferrysburg Solar Installation Cost: $11,665
- 25-Year Savings: $22,840
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Ferrysburg
We break down average solar pricing in Ferrysburg.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Ferrysburg, the average cost of solar panels is 2.81 per watt. Because a 5.9-kW system is needed to cover the energy consumption of a typical home in Ferrysburg, the average price of going solar will be about $11,664 after claiming the federal solar tax credit of 30%.
These figures are only averages, and how much solar costs for you may differ based on the amount of energy your home requires and what company you choose to go with. Despite the significant upfront cost, the average Ferrysburg homeowner can save around $22,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Ferrysburg
| Year | Return on Investment |
|---|---|
| 1 years | $-11,550 |
| 3 years | $-11,320 |
| 5 years | $-11,090 |
| 7 years | $-10,859 |
| 9 years | $-10,629 |
| 11 years | $-10,399 |
| 13 years | $-10,169 |
| 15 years | $-9,939 |
| 17 years | $-9,709 |
| 19 years | $-9,479 |
| 21 years | $-9,249 |
| 23 years | $-9,019 |
| 25 years | $-8,789 |
Top Solar Installers in Ferrysburg
Many homeowners choose to hire a solar installer since trying to install solar panels by yourself can be challenging. Another benefit of going with a solar installer is that they can help you maximize your return of investment by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
If you're on the hunt for a solar company in Ferrysburg, we've compiled a list of our top suggestions here:
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 Ferrysburg
Factors that Affect Solar Panel Costs in Ferrysburg
There are many factors 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 performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Ferrysburg. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Ferrysburg average.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a popular option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can impact the cost. Ferrysburg's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and choose a company that has the products, warranties and services you're looking for and also fits 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 | $22,637 | 8.8 years |
| 8 kW | $2.87 | $16,051 | $30,497 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,514 | 8.5 years |
| 12 kW | $2.75 | $23,132 | $46,689 | 8.3 years |
| 14 kW | $2.70 | $26,436 | $55,022 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $63,512 | 7.9 years |
| 18 kW | $2.59 | $32,574 | $72,159 | 7.8 years |
| 20 kW | $2.53 | $35,406 | $80,963 | 7.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Ferrysburg, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before deciding.
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Reputation: Your solar installer should have a sound 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 that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
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 Ferrysburg, MI Solar Cost FAQs
How much does it cost to install solar panels in Ferrysburg?
The average cost of solar panels in Ferrysburg 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Ferrysburg?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Ferrysburg?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires 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 house 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.