Solar Panel Cost Guide in Fraser, MI (2023 Update)
- Fraser Solar Installation Cost: $11,959
- 25-Year Savings: $13,160
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Fraser
We go over average solar pricing in Fraser.
The national average cost of solar panels is $2.66 per watt, but in Fraser it's 2.81 per watt. Since a 6.1-kW system is needed to cover the energy costs of a typical home in Fraser, the average price of going solar will be about $11,959 after claiming the federal solar tax credit of 30%.
Keep in mind that the figures above are only estimates based on the average Fraser homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Fraser can save around $16,000 on their energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Fraser for a quote for your home.
Solar savings over time in Fraser
| Year | Return on Investment |
|---|---|
| 1 years | $-10,955 |
| 3 years | $-8,945 |
| 5 years | $-6,935 |
| 7 years | $-4,926 |
| 9 years | $-2,916 |
| 11 years | $-907 |
| 13 years | $1,103 |
| 15 years | $3,112 |
| 17 years | $5,122 |
| 19 years | $7,132 |
| 21 years | $9,141 |
| 23 years | $11,151 |
| 25 years | $13,160 |
Top Solar Installers in Fraser
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of an installer can make converting to solar power much easier. Another perk of using a solar installer is that they can help you maximize your investment by reducing your future costs of repairs and replacements because of warranties and giving you information on local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much solar panels 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 Fraser
Factors that Affect Solar Panel Costs in Fraser
Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Fraser: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,810. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Fraser, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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 reduce the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Fraser is the company you get to install your solar system. As with choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that provide a range of services for different budgets. The company's size can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $12,529 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $17,020 | 12.1 years |
| 10 kW | $2.81 | $19,670 | $21,668 | 11.9 years |
| 12 kW | $2.75 | $23,132 | $26,474 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,437 | 11.4 years |
| 16 kW | $2.64 | $29,584 | $36,557 | 11.2 years |
| 18 kW | $2.59 | $32,574 | $41,835 | 10.9 years |
| 20 kW | $2.53 | $35,406 | $47,270 | 10.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: If you're worried about the durability of your solar system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: The brand of solar panel you need plays a role in which installer you should go with, since different companies provide different panels.
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 Fraser, MI Solar Cost FAQs
What is the average cost of installing solar panels in Fraser?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.