Solar Panel Cost Guide in Grayling, MI (2024 Update)
- Grayling Solar Installation Cost: $17,957
- 25-Year Savings: $22,302
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Grayling
Find out how much it might cost to install solar panels in Grayling.
Although the national average of solar panels is $2.66 per watt, solar panels in Grayling generally cost about 4.Using this figure, a typical 6.3-kW system would cost about $17,957 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy usage and what installation company you go with.For many homeowners, the upfront investment in solar is worth paying. On average Grayling homeowners see about $21,000 in savings on utility bills over 20 years.
To get a free quote from a vetted solar installation company in Grayling, you can click the button below.
Solar savings over time in Grayling
| Year | Return on Investment |
|---|---|
| 1 years | $-16,703 |
| 3 years | $-14,195 |
| 5 years | $-11,688 |
| 7 years | $-9,181 |
| 9 years | $-6,673 |
| 11 years | $-4,166 |
| 13 years | $-1,658 |
| 15 years | $849 |
| 17 years | $3,356 |
| 19 years | $5,864 |
| 21 years | $8,371 |
| 23 years | $10,878 |
| 25 years | $13,386 |
Top Solar Installers in Grayling
Putting up solar panels on your own can be a challenging project, which is why hiring a solar installation company is a good option for many homeowners. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance over the lifespan of your panels.
Working with a licensed 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 Grayling
Factors that Affect Solar Panel Costs in Grayling
The cost of installing a solar system in Grayling can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay around $4,060 per kilowatt in Grayling.There are many different solar panel brands and the one you choose also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to install 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 challenging. Solar loans are available from most installers in Grayling, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.When estimating your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Grayling, and each can charge varying amounts for labor and equipment.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have 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 discount 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 | $4.22 | $17,734 | $15,246 | 13.4 years |
| 8 kW | $4.14 | $23,191 | $20,783 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,548 | 12.9 years |
| 12 kW | $3.98 | $33,422 | $32,539 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,758 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $45,204 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,878 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,779 | 11.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
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 Grayling, MI Solar Cost FAQs
What is the average cost of installing solar panels in Grayling?
This is a tough question to answer precisely, 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Grayling?
Leasing solar panels can be an appealing choice, because it commonly 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.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Grayling is currently $174,629, so you can look forward to a value of about $7,160 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Grayling is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can 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 buy between 20 and 35 panels to cover 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.