Solar Panel Cost Guide in Greenville, MI (2024 Update)
- Greenville Solar Installation Cost: $17,474
- 25-Year Savings: $21,600
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Greenville
Let’s have a look at the average cost of solar panels in Greenville.
The national average cost of solar panels is $2.66 per watt, but in Greenville it’s 4 per watt.The average Greenville homeowner needs a 6.1-kilowatt system, which would cost about $17,474 with the federal tax credit, or $24,988 before the 0 tax credit is applied.
The true cost of your system can go higher or lower than the average in Greenville depending on several factors, such as the brand of solar panels you choose and the solar company you hire.For most homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $21,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Greenville for a quote for your home.
Solar savings over time in Greenville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,220 |
| 3 years | $-13,713 |
| 5 years | $-11,205 |
| 7 years | $-8,698 |
| 9 years | $-6,191 |
| 11 years | $-3,683 |
| 13 years | $-1,176 |
| 15 years | $1,332 |
| 17 years | $3,839 |
| 19 years | $6,346 |
| 21 years | $8,854 |
| 23 years | $11,361 |
| 25 years | $13,868 |
Top Solar Installers in Greenville
Although you can install solar panels by yourself, it involves extra energy and expertise. Because of that, most people choose to hire a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for you.
Working with a vetted solar installer can make going solar easier. 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 Greenville
Factors that Affect Solar Panel Costs in Greenville
Even though the average cost of a solar system in Greenville is $17,474, your final cost may be higher or lower than that. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar panel system in Greenville, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can determine by looking at past electricity bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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 over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Greenville average.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Greenville is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, you’ll have many options for solar installers that offer a range of services at different costs.Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,146 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,649 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,380 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,338 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,524 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $44,937 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,577 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,444 | 11.7 years |
How to Save on Solar Panels
There are many companies to choose from in Greenville, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, be sure to read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: The model of solar panel you’d like plays a part in which company you should go with, since different companies have different panels.
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 Greenville, MI Solar Cost FAQs
How much does it cost to install solar panels in Greenville?
The average cost of solar panels in Greenville is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Greenville?
You can’t get solar panels for free in Greenville. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greenville is currently $235,036, so you could be looking at a value of about $9,636 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Greenville is a worthwhile investment.
How long do solar panels last in Greenville?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.