Solar Panel Cost Guide in Frankenlust, MI (2023 Update)
- Frankenlust Solar Installation Cost: $12,108
- 25-Year Savings: $21,970
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Frankenlust
We break down average solar pricing in Frankenlust.
The average cost of a solar panel system in Frankenlust is 2.81 per watt. To account for the typical energy needs of the average home in Frankenlust, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $12,117, or $17,327 before the federal solar tax credit of 30% 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 installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what installation company you go with. For most homeowners, the upfront cost of solar is worth paying. On average Frankenlust homeowners see about $21,000 in savings on energy bills over 20 years.
To receive a free estimate from a highly rated solar company in Frankenlust, you can click the button below.
Solar savings over time in Frankenlust
| Year | Return on Investment |
|---|---|
| 1 years | $-10,855 |
| 3 years | $-8,347 |
| 5 years | $-5,840 |
| 7 years | $-3,333 |
| 9 years | $-825 |
| 11 years | $1,682 |
| 13 years | $4,190 |
| 15 years | $6,697 |
| 17 years | $9,204 |
| 19 years | $11,712 |
| 21 years | $14,219 |
| 23 years | $16,727 |
| 25 years | $19,234 |
Top Solar Installers in Frankenlust
Installing solar panels on your own can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Plus, if you're not certain what brand of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:
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 Frankenlust
Factors that Affect Solar Panel Costs in Frankenlust
The cost of installing a solar system in Frankenlust can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power generation require 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. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Frankenlust, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Frankenlust to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest. When figuring out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar panel installer you pick will affect your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $20,942 | 9.2 years |
| 8 kW | $2.87 | $16,051 | $28,237 | 9.1 years |
| 10 kW | $2.81 | $19,670 | $35,690 | 8.9 years |
| 12 kW | $2.75 | $23,132 | $43,300 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $51,067 | 8.5 years |
| 16 kW | $2.64 | $29,584 | $58,992 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $67,074 | 8.2 years |
| 20 kW | $2.53 | $35,406 | $75,313 | 8.0 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you go with.
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 Frankenlust, MI Solar Cost FAQs
What is the average cost of installing solar panels in Frankenlust?
The average cost of solar panels in Frankenlust 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Frankenlust?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Frankenlust, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.