Solar Panel Cost Guide in Fraser, MI (2024 Update)
- Fraser Solar Installation Cost: $17,270
- 25-Year Savings: $13,167
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Fraser
Let’s have a look at the average cost of solar panels in Fraser.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Fraser, the typical cost of solar panels is 4 per watt.The average Fraser homeowner needs a 6.1-kilowatt system, which would cost about $17,270 with the federal tax credit, or $24,696 before the 0 tax credit is applied.
The actual price you pay can go higher or lower than the average in Fraser based on several factors, such as the type of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $16,000 over 20 years on power bills.
You can click the button below to get connected with a vetted solar company in Fraser that can help you get a more accurate cost estimate for your home.
Solar savings over time in Fraser
| Year | Return on Investment |
|---|---|
| 1 years | $-15,878 |
| 3 years | $-13,093 |
| 5 years | $-10,308 |
| 7 years | $-7,524 |
| 9 years | $-4,739 |
| 11 years | $-1,954 |
| 13 years | $830 |
| 15 years | $3,615 |
| 17 years | $6,400 |
| 19 years | $9,185 |
| 21 years | $11,969 |
| 23 years | $14,754 |
| 25 years | $17,539 |
Top Solar Installers in Fraser
Many homeowners opt for a solar installation company since trying to install solar panels yourself can be a labor-intensive endeavor. Another good thing about going with a vetted solar installer is that it'll likely provide warranties and free repairs, which help protect your investment.
There are various licensed solar professionals that can help you install your solar system. 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Fraser
Factors that Affect Solar Panel Costs in Fraser
For many Fraser homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Fraser, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Fraser, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also changes the cost. Typically, the brands that have better efficiency tend to also be more expensive. In addition, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they decrease your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Fraser have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $4.22 | $17,734 | $7,069 | 17.9 years |
| 8 kW | $4.14 | $23,191 | $9,880 | 17.5 years |
| 10 kW | $4.06 | $28,420 | $12,918 | 17.2 years |
| 12 kW | $3.98 | $33,422 | $16,184 | 16.8 years |
| 14 kW | $3.90 | $38,196 | $19,677 | 16.5 years |
| 16 kW | $3.82 | $42,744 | $23,397 | 16.2 years |
| 18 kW | $3.74 | $47,064 | $27,345 | 15.8 years |
| 20 kW | $3.65 | $51,156 | $31,520 | 15.5 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 find the right company for you, here are some tips to keep in mind:
- Contract: Review the contract terms closely to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Fraser, MI Solar Cost FAQs
What is the average cost of installing solar panels in Fraser?
The average cost of solar panels in Fraser is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual 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.
Can you get solar panels for free in Fraser?
You can’t get solar panels for free in Fraser. However, you may still be able to install 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.
Does Fraser have a net metering program?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How long do solar panels last in Fraser?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.