Solar Panel Cost Guide in Georgetown, MI (2024 Update)
- Georgetown Solar Installation Cost: $16,853
- 25-Year Savings: $22,840
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Georgetown
See how much it might cost to go solar in Georgetown.
The average cost of a solar panel system in Georgetown is 4 per watt.The average solar panel system size in Georgetown is around 5.9 kilowatts, meaning a cost of about $16,853 for a solar installation, or $24,100 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Georgetown homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, 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 usually fruitful, with a net average savings of about $22,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-15,600 |
| 3 years | $-13,092 |
| 5 years | $-10,585 |
| 7 years | $-8,078 |
| 9 years | $-5,570 |
| 11 years | $-3,063 |
| 13 years | $-555 |
| 15 years | $1,952 |
| 17 years | $4,459 |
| 19 years | $6,967 |
| 21 years | $9,474 |
| 23 years | $11,982 |
| 25 years | $14,489 |
Top Solar Installers in Georgetown
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be a labor-intensive endeavor. Another great thing about using a vetted solar installer is that it'll usually provide warranties and free repairs, which help protect your solar system over time.
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 nearby:
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 Georgetown
Factors that Affect Solar Panel Costs in Georgetown
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Georgetown: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Georgetown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, 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
Most solar companies in Georgetown have solar loans, which reduce the initial cost of installing solar.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Georgetown is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, you’ll have no shortage of solar installers that provide a range of services at different costs.The size of the company sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater 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 lower to compete with bigger names.
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 | $17,177 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,357 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,764 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,399 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,262 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,352 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,669 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,213 | 11.0 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. Two 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 good reviews from previous customers.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a good company.
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 Georgetown, MI Solar Cost FAQs
How much does it cost to install solar panels in Georgetown?
This is a tough question to answer exactly, because the cost depends on many 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Solar panels can increase your property’s value significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Georgetown?
On average, solar panels can last 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 higher 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.