Solar Panel Cost Guide in Gaines, MI (2024 Update)
- Gaines Solar Installation Cost: $17,551
- 25-Year Savings: $22,624
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Gaines
Let’s have a look at the average cost of solar panels in Gaines.
The average cost of solar panels in Gaines is 4 per watt.To cover the typical energy usage of the average home in Gaines, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $17,551, or $25,098 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Gaines 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.But, once you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar installer in Gaines that can help you get a more accurate cost estimate for your home.
Solar savings over time in Gaines
| Year | Return on Investment |
|---|---|
| 1 years | $-16,297 |
| 3 years | $-13,790 |
| 5 years | $-11,282 |
| 7 years | $-8,775 |
| 9 years | $-6,268 |
| 11 years | $-3,760 |
| 13 years | $-1,253 |
| 15 years | $1,255 |
| 17 years | $3,762 |
| 19 years | $6,269 |
| 21 years | $8,777 |
| 23 years | $11,284 |
| 25 years | $13,792 |
Top Solar Installers in Gaines
Putting up solar panels by yourself can be a stressful task, which is why getting a solar installation company is a good option for many homeowners. Companies can also provide access to various kinds of the best solar panels and help you pick which one will be right for your home.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Gaines
Factors that Affect Solar Panel Costs in Gaines
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that affect your total cost in Gaines: 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 size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The brand and kind of equipment you choose for your solar system can increase or decrease 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Gaines, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can affect how much it costs. Gaines’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 choose a company that provides the products, warranties and services you want and also is 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 | $4.22 | $17,734 | $16,048 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,853 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,884 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,143 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,629 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,343 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $54,284 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,452 | 11.4 years |
How to Save on Solar Panels
There are numerous companies to choose from in Gaines, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- 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 mark of a good company.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be done and what the project timeline is.
EcoWatch's Gaines, MI Solar Cost FAQs
How much does it cost to install solar panels in Gaines?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.