Solar Panel Cost Guide in Hamlin, MI (2024 Update)
- Hamlin Solar Installation Cost: $16,603
- 25-Year Savings: $23,013
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Hamlin
See how much it might cost to make the switch to solar in Hamlin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hamlin, the average cost of solar panels is 4 per watt.The average solar panel system size in Hamlin is around 5.8 kilowatts, meaning a cost of about $16,603 for a solar installation, or $23,742 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Hamlin depending on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.Even with the high upfront cost, the average Hamlin homeowner can save around $22,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free estimate from a pre-vetted solar installer in Hamlin, you can click the button below.
Solar savings over time in Hamlin
| Year | Return on Investment |
|---|---|
| 1 years | $-15,349 |
| 3 years | $-12,842 |
| 5 years | $-10,334 |
| 7 years | $-7,827 |
| 9 years | $-5,320 |
| 11 years | $-2,812 |
| 13 years | $-305 |
| 15 years | $2,203 |
| 17 years | $4,710 |
| 19 years | $7,217 |
| 21 years | $9,725 |
| 23 years | $12,232 |
| 25 years | $14,740 |
Top Solar Installers in Hamlin
Trying to put up solar panels by yourself can be a stressful task, which is why hiring a solar installer is a good option for many homeowners. A solar company can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
If you’d like to start using solar energy but still aren’t certain which solar panel company to go with, here are our recommendations for providers in Hamlin:
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 Hamlin
Factors that Affect Solar Panel Costs in Hamlin
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that will push your cost above or below the average in Hamlin: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most important 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 power your household consumes, the larger your system will likely need to be. You can expect to spend around $4,060 per kilowatt in Hamlin.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Hamlin, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Hamlin, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you hire to handle your switch to sustainable energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Hamlin, and each can charge different amounts for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,704 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $24,060 | 12.3 years |
| 10 kW | $4.06 | $28,420 | $30,643 | 12.0 years |
| 12 kW | $3.98 | $33,422 | $37,454 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,492 | 11.5 years |
| 16 kW | $3.82 | $42,744 | $51,757 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $59,250 | 11.1 years |
| 20 kW | $3.65 | $51,156 | $66,970 | 10.8 years |
How to Save on Solar Panels
The solar panel company you choose will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Warranty: If you care about the durability of your solar panels, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
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 Hamlin, MI Solar Cost FAQs
How much does it cost to install solar panels in Hamlin?
This is a difficult 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
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 Hamlin is currently $213,545, which means you can expect a value of about $8,755 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hamlin is a fruitful investment.
What solar power system size is right for 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 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.