Solar Panel Cost Guide in Georgetown, MI (2023 Update)
- Georgetown Solar Installation Cost: $11,664
- 25-Year Savings: $22,840
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Georgetown
We break down average solar pricing in Georgetown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the typical cost of solar panels is 2.81 per watt. The average solar panel system size in Georgetown is around 5.9 kilowatts, meaning a cost of about $11,664 for a solar installation, or $16,680 before the 30% federal solar tax credit is applied.
The actual price you pay can go above or below the average in Georgetown based on a few factors, such as the model of solar panels you choose and the solar company you hire. With average savings of about $22,000 on utility bills over 20 years, many homeowners in Georgetown find investing in solar has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,284 |
| 3 years | $-7,524 |
| 5 years | $-4,763 |
| 7 years | $-2,003 |
| 9 years | $757 |
| 11 years | $3,518 |
| 13 years | $6,278 |
| 15 years | $9,038 |
| 17 years | $11,799 |
| 19 years | $14,559 |
| 21 years | $17,319 |
| 23 years | $20,080 |
| 25 years | $22,840 |
Top Solar Installers in Georgetown
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using a solar company can make swapping over to solar power much easier. The payback period on an investment in solar panels will vary based on factors like your location and energy consumption, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a vetted solar company can help your solar project go smoothly. Here are our recommendations:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that affect your total cost in Georgetown: 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 panels varies by thousands of dollars due to some different factors. One of the key 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 increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are several different solar panel brands and the one you choose also affects the cost. In many cases, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Georgetown, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can influence how much you pay. Georgetown's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $22,637 | 8.8 years |
| 8 kW | $2.87 | $16,051 | $30,497 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,514 | 8.5 years |
| 12 kW | $2.75 | $23,132 | $46,689 | 8.3 years |
| 14 kW | $2.70 | $26,436 | $55,022 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $63,512 | 7.9 years |
| 18 kW | $2.59 | $32,574 | $72,159 | 7.8 years |
| 20 kW | $2.53 | $35,406 | $80,963 | 7.6 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should take into account, such as:
- Contract: Before you sign a contract with a solar company, make sure to look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you hire.
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 Georgetown, MI Solar Cost FAQs
What is the average cost of installing solar panels in Georgetown?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Georgetown?
Leasing solar panels can be an appealing choice, as it often 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 tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Does Georgetown have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.