Solar Panel Cost Guide in Forsyth, MI (2023 Update)
- Forsyth Solar Installation Cost: $12,439
- 25-Year Savings: $36,575
- Payback Period: 6.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Forsyth
Find out what the average cost of solar panels are in Forsyth.
The average cost of a solar system in Forsyth is 2.81 per watt. Using this figure, a typical 6.3-kW system would cost about $12,431 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Forsyth homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront investment in solar is worth paying. On average Forsyth homeowners see about $29,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Forsyth that can help you get a more accurate cost estimate for your home.
Solar savings over time in Forsyth
| Year | Return on Investment |
|---|---|
| 1 years | $-10,644 |
| 3 years | $-7,055 |
| 5 years | $-3,465 |
| 7 years | $124 |
| 9 years | $3,713 |
| 11 years | $7,303 |
| 13 years | $10,892 |
| 15 years | $14,482 |
| 17 years | $18,071 |
| 19 years | $21,661 |
| 21 years | $25,250 |
| 23 years | $28,839 |
| 25 years | $32,429 |
Top Solar Installers in Forsyth
When making the switch to solar, many homeowners decide to use a solar installation company since installing solar panels yourself can be a time-consuming project. In addition, if you'd like to maximize your investment in solar power, using a solar company can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Forsyth
Factors that Affect Solar Panel Costs in Forsyth
For many Forsyth homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Forsyth, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important 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 uses, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Forsyth. The kind of solar panels and equipment you choose is another factor that will substantially influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more pricey. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in Forsyth, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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're only able to 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 considerably.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Forsyth, and each can charge different amounts for labor and 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 come with an above-average cost. It's best to do some research and find a company that has the products, warranties and services you want 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 | $34,229 | 6.6 years |
| 8 kW | $2.87 | $16,051 | $45,954 | 6.5 years |
| 10 kW | $2.81 | $19,670 | $57,836 | 6.3 years |
| 12 kW | $2.75 | $23,132 | $69,875 | 6.2 years |
| 14 kW | $2.70 | $26,436 | $82,072 | 6.1 years |
| 16 kW | $2.64 | $29,584 | $94,426 | 6.0 years |
| 18 kW | $2.59 | $32,574 | $106,937 | 5.8 years |
| 20 kW | $2.53 | $35,406 | $119,606 | 5.7 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining 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 several important things you should consider, such as:
- Contract: When reading through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or the company going out of business.
- Warranty: If you care about the durability of your solar energy system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- 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 likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
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 Forsyth, MI Solar Cost FAQs
How much does it cost to install solar panels in Forsyth?
The average cost of solar panels in Forsyth 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Forsyth?
You can't get solar panels for free in Forsyth. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Forsyth?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Forsyth?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.