Solar Panel Cost Guide in Genoa, MI (2024 Update)
- Genoa Solar Installation Cost: $17,582
- 25-Year Savings: $16,071
- Payback Period: 16.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Genoa
Find out how much it might cost to install solar panels in Genoa.
In Genoa, solar panels cost about 4 per watt on average.Using this figure, a typical 6.2-kW system would cost about $17,582 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of solar panels you want, your solar contractor and more.For most homeowners, the upfront cost of solar is worth paying. On average Genoa homeowners see about $16,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a top solar installer in Genoa that can help you get a more accurate cost estimate for your home.
Solar savings over time in Genoa
| Year | Return on Investment |
|---|---|
| 1 years | $-16,236 |
| 3 years | $-13,543 |
| 5 years | $-10,851 |
| 7 years | $-8,159 |
| 9 years | $-5,467 |
| 11 years | $-2,774 |
| 13 years | $-82 |
| 15 years | $2,610 |
| 17 years | $5,302 |
| 19 years | $7,995 |
| 21 years | $10,687 |
| 23 years | $13,379 |
| 25 years | $16,071 |
Top Solar Installers in Genoa
Trying to install solar panels yourself can be a challenging project, which is why using a solar installation company is a good option for many homeowners. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are a number of licensed solar professionals that can install solar panels for you. 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 Genoa
Factors that Affect Solar Panel Costs in Genoa
For many Genoa homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Genoa, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,060. The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Further, solar equipment goes beyond 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 searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over five to seven years on average.It’s a good idea to add 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 how long it’ll take to pay off the loan.
Solar Panel Installation Company
The solar installer you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.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 choose a company that provides the products, warranties and services you’re looking for 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 | $8,040 | 17.2 years |
| 8 kW | $4.14 | $23,191 | $11,174 | 16.9 years |
| 10 kW | $4.06 | $28,420 | $14,536 | 16.5 years |
| 12 kW | $3.98 | $33,422 | $18,126 | 16.2 years |
| 14 kW | $3.90 | $38,196 | $21,942 | 15.9 years |
| 16 kW | $3.82 | $42,744 | $25,986 | 15.5 years |
| 18 kW | $3.74 | $47,064 | $30,258 | 15.2 years |
| 20 kW | $3.65 | $51,156 | $34,757 | 14.9 years |
How to Save on Solar Panels
There are a lot of companies available in Genoa, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from previous customers.
- Warranty: If you care about the endurance of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Solar Panel Brands: The kind of solar panel you want to get plays a part in which installer you should choose, since different companies have access to different panels.
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 Genoa, MI Solar Cost FAQs
What is the average cost of installing solar panels in Genoa?
The average cost of solar panels in Genoa 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 stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Genoa?
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 option if you want to maximize your savings.
Is switching to solar power worth it?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Genoa?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.