Solar Panel Cost Guide in Geneva, MI (2024 Update)
- Geneva Solar Installation Cost: $16,493
- 25-Year Savings: $22,921
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Geneva
Let’s have a look at the average cost of solar in Geneva.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Geneva, the average cost of solar panels is 4 per watt.Since a 5.8-kW system is needed to cover the energy usage of a typical home in Geneva, the average price of going solar will be about $16,493 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what company you go with.Even with the high initial cost, the average Geneva homeowner can save about $22,000 on their power bills over 20 years, which is one of the positives of solar.
For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Geneva
| Year | Return on Investment |
|---|---|
| 1 years | $-15,239 |
| 3 years | $-12,732 |
| 5 years | $-10,225 |
| 7 years | $-7,717 |
| 9 years | $-5,210 |
| 11 years | $-2,702 |
| 13 years | $-195 |
| 15 years | $2,312 |
| 17 years | $4,820 |
| 19 years | $7,327 |
| 21 years | $9,835 |
| 23 years | $12,342 |
| 25 years | $14,849 |
Top Solar Installers in Geneva
When making the switch to solar, many homeowners choose to go with a solar installer since putting up a solar system yourself can be a challenging project. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
There are several factors that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Geneva.The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bump up your total well above the Geneva average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Geneva, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you get to install your solar system can impact your pricing. Geneva’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 at a higher cost. It’s best to do some research and go with the company that offers the products, warranties and services you’re looking for and also fit into 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 | $17,766 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $24,142 | 12.2 years |
| 10 kW | $4.06 | $28,420 | $30,746 | 12.0 years |
| 12 kW | $3.98 | $33,422 | $37,578 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,637 | 11.5 years |
| 16 kW | $3.82 | $42,744 | $51,923 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $59,436 | 11.0 years |
| 20 kW | $3.65 | $51,156 | $67,177 | 10.8 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 picking a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Different companies will have different brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Read the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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
What is the average cost of installing solar panels in Geneva?
This is a hard question to answer exactly, because the cost depends on a few different 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. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Geneva?
Leasing solar panels can be an appealing choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Geneva, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Geneva?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.