Solar Panel Cost Guide in Freeland, MI (2024 Update)
- Freeland Solar Installation Cost: $17,618
- 25-Year Savings: $23,111
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Freeland
We go over average solar pricing in Freeland.
Although the national average of solar panels is $2.66 per watt, solar panels in Freeland generally cost about 4.The average solar panel system size in Freeland is around 6.2 kilowatts, meaning a cost of about $17,618 for a solar installation, or $25,194 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Freeland homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.Despite the significant initial cost, the average Freeland homeowner can save around $22,000 on their energy bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Freeland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,364 |
| 3 years | $-13,856 |
| 5 years | $-11,349 |
| 7 years | $-8,842 |
| 9 years | $-6,334 |
| 11 years | $-3,827 |
| 13 years | $-1,319 |
| 15 years | $1,188 |
| 17 years | $3,695 |
| 19 years | $6,203 |
| 21 years | $8,710 |
| 23 years | $11,217 |
| 25 years | $13,725 |
Top Solar Installers in Freeland
Although you can install solar panels by yourself, it requires extra labor and handiness. Because of that, the majority of homeowners choose to hire a solar panel installer. Also, if you’d like to maximize your investment in solar, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Freeland
Factors that Affect Solar Panel Costs in Freeland
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Freeland: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production use 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 $4,060.The brand of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Freeland to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.When trying to figure out 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
The solar company you go with to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Freeland, and each can charge different amounts for labor and equipment.Additionally, some companies in Freeland know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $16,437 | 13.0 years |
| 8 kW | $4.14 | $23,191 | $22,370 | 12.7 years |
| 10 kW | $4.06 | $28,420 | $28,531 | 12.5 years |
| 12 kW | $3.98 | $33,422 | $34,920 | 12.2 years |
| 14 kW | $3.90 | $38,196 | $41,535 | 12.0 years |
| 16 kW | $3.82 | $42,744 | $48,378 | 11.7 years |
| 18 kW | $3.74 | $47,064 | $55,449 | 11.5 years |
| 20 kW | $3.65 | $51,156 | $62,747 | 11.2 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a good company.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
EcoWatch's Freeland, MI Solar Cost FAQs
How much does it cost to install solar panels in Freeland?
The average cost of solar panels in Freeland is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Freeland have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 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.