Solar Panel Cost Guide in Geneva, MI (2023 Update)
- Geneva Solar Installation Cost: $11,415
- 25-Year Savings: $22,921
- Payback Period: 8.3 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Geneva
Find out what the average cost of solar panels are in Geneva.
In Geneva, solar panels cost about 2.81 per watt on average. Using this figure, a typical 5.8-kW system would cost about $11,409 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more. Many homeowners find going solar is a fruitful investment. The average homeowner in Geneva can save around $22,000 on their energy bills over 20 years.
To receive a free estimate from a top solar company in Geneva, you can click the button below.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-10,161 |
| 3 years | $-7,654 |
| 5 years | $-5,147 |
| 7 years | $-2,639 |
| 9 years | $-132 |
| 11 years | $2,376 |
| 13 years | $4,883 |
| 15 years | $7,390 |
| 17 years | $9,898 |
| 19 years | $12,405 |
| 21 years | $14,912 |
| 23 years | $17,420 |
| 25 years | $19,927 |
Top Solar Installers in Geneva
When making the switch to solar, many homeowners prefer to go with a solar company since DIY solar panel installation can be a challenging project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some in Geneva:
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 Geneva
Factors that Affect Solar Panel Costs in Geneva
The cost of installing a solar system in Geneva 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 company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The brand of solar panels and equipment you want is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to consider 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 for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Geneva, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. Even though solar loans make going solar more accessible for Geneva homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can affect your pricing. Geneva's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $23,226 | 8.6 years |
| 8 kW | $2.87 | $16,051 | $31,282 | 8.5 years |
| 10 kW | $2.81 | $19,670 | $39,496 | 8.3 years |
| 12 kW | $2.75 | $23,132 | $47,868 | 8.1 years |
| 14 kW | $2.70 | $26,436 | $56,397 | 8.0 years |
| 16 kW | $2.64 | $29,584 | $65,083 | 7.8 years |
| 18 kW | $2.59 | $32,574 | $73,926 | 7.6 years |
| 20 kW | $2.53 | $35,406 | $82,927 | 7.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be difficult, we have some tips to help you, such as:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of options before deciding.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Installation Process: When going solar, it's crucial to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project timeline.
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 Geneva, MI Solar Cost FAQs
How much does it cost to install solar panels in Geneva?
The average cost of solar panels in Geneva is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to 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.
Can you sell solar power back to the grid in Geneva?
The majority of states offer net metering programs of some kind. Through these, you can either 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 long do solar panels last in Geneva?
Although 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 their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.