Solar Panel Cost Guide in Hamburg, MI (2023 Update)
- Hamburg Solar Installation Cost: $12,176
- 25-Year Savings: $14,399
- Payback Period: 11.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hamburg
Find out what the average cost of solar panels are in Hamburg.
In Hamburg, solar panels cost about 2.81 per watt on average. The average Hamburg homeowner needs a 6.2-kilowatt system, which would cost about $12,176 with the federal tax credit, or $17,412 before the 30% tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Hamburg homeowner. The cost of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $16,000 over 20 years on electricity bills.
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Solar savings over time in Hamburg
| Year | Return on Investment |
|---|---|
| 1 years | $-11,113 |
| 3 years | $-8,987 |
| 5 years | $-6,861 |
| 7 years | $-4,735 |
| 9 years | $-2,609 |
| 11 years | $-483 |
| 13 years | $1,643 |
| 15 years | $3,769 |
| 17 years | $5,895 |
| 19 years | $8,021 |
| 21 years | $10,147 |
| 23 years | $12,273 |
| 25 years | $14,399 |
Top Solar Installers in Hamburg
Installing solar panels by yourself can be a dangerous task, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be helpful as well, particularly if you aren't sure what kind of solar equipment you need.
There are a number of licensed solar professionals that can help you install your solar panels. 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
See all of the solar companies in Hamburg
Factors that Affect Solar Panel Costs in Hamburg
There are many factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better 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 many different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want 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
Most solar installers in Hamburg provide solar loans, which reduce the initial cost of installing a solar system. 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 back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Hamburg is the company you get to install your PV system. Similar to choosing a company to install new cabinets, for instance, there are plenty of solar installers that provide a range of services for different budgets. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better 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 | $2.92 | $12,274 | $13,500 | 11.9 years |
| 8 kW | $2.87 | $16,051 | $18,314 | 11.7 years |
| 10 kW | $2.81 | $19,670 | $23,286 | 11.4 years |
| 12 kW | $2.75 | $23,132 | $28,416 | 11.2 years |
| 14 kW | $2.70 | $26,436 | $33,702 | 11.0 years |
| 16 kW | $2.64 | $29,584 | $39,146 | 10.8 years |
| 18 kW | $2.59 | $32,574 | $44,748 | 10.5 years |
| 20 kW | $2.53 | $35,406 | $50,507 | 10.3 years |
How to Save on Solar Panels
The solar company you opt for will be a major factor in determining not only your total 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 consider, such as:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so make sure you peruse their list of offerings before deciding.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: When reading over your solar installer's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Hamburg, MI Solar Cost FAQs
What is the average cost of installing solar panels in Hamburg?
The average cost of solar panels in Hamburg is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Hamburg?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Hamburg?
On average, the lifespan of solar panels is 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 amount 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.