Solar Panel Cost Guide in Handy, MI (2024 Update)
- Handy Solar Installation Cost: $17,582
- 25-Year Savings: $16,854
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Handy
Find out what the average cost of a solar system is in Handy.
In Handy, solar panels cost about 4 per watt on average.The average solar panel system size in Handy is around 6.2 kilowatts, meaning a cost of about $17,582 for a solar installation, or $25,142 before the 0 federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Handy based on several factors, such as the model of solar panels you choose and the solar contractor you hire.But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Handy
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Handy
Many homeowners opt for a solar installation company since installing solar panels yourself can be a labor-intensive endeavor. Plus, warranties and repairs from your solar panel company can protect your investment and reduce the cost of maintenance over time.
You can get a free quote from a local solar installer on the cost of solar panels 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 Handy
Factors that Affect Solar Panel Costs in Handy
The cost of installing a solar system in Handy can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require 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 $4,060.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Handy, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, 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
Most solar companies in Handy provide solar loans, which reduce your upfront costs of installing a solar system.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Handy is the company you choose to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different costs.Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and decide on the company that provides the products, warranties and services you’re looking for and also is within your budget.
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 | $10,414 | 15.8 years |
| 8 kW | $4.14 | $23,191 | $14,340 | 15.4 years |
| 10 kW | $4.06 | $28,420 | $18,494 | 15.1 years |
| 12 kW | $3.98 | $33,422 | $22,874 | 14.8 years |
| 14 kW | $3.90 | $38,196 | $27,483 | 14.5 years |
| 16 kW | $3.82 | $42,744 | $32,318 | 14.2 years |
| 18 kW | $3.74 | $47,064 | $37,381 | 13.9 years |
| 20 kW | $3.65 | $51,156 | $42,671 | 13.6 years |
How to Save on Solar Panels
Since the brand of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Warranty: If you care about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
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 Handy, MI Solar Cost FAQs
What is the average cost of installing solar panels in Handy?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the flip side, you can spend less if you want a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
How will installing solar panels impact my property value?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.