Solar Panel Cost Guide in Hastings, MI (2023 Update)
- Hastings Solar Installation Cost: $12,058
- 25-Year Savings: $21,636
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Hastings
We go over average solar pricing in Hastings.
In Hastings, solar panels cost about 2.81 per watt on average. The average solar panel system size in Hastings is around 6.1 kilowatts, meaning a cost of about $12,058 for a solar installation, or $17,243 before the 30% federal solar tax credit is applied.
The actual price you pay can be higher or lower than the average in Hastings depending on a few factors, such as the kind of solar panels you choose and the solar company you hire. Despite the large initial cost, the average Hastings homeowner can save around $21,000 on their power bills over 20 years, which is one of the advantages of solar.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Hastings
| Year | Return on Investment |
|---|---|
| 1 years | $-10,710 |
| 3 years | $-8,014 |
| 5 years | $-5,319 |
| 7 years | $-2,623 |
| 9 years | $72 |
| 11 years | $2,768 |
| 13 years | $5,463 |
| 15 years | $8,159 |
| 17 years | $10,854 |
| 19 years | $13,550 |
| 21 years | $16,245 |
| 23 years | $18,941 |
| 25 years | $21,636 |
Top Solar Installers in Hastings
Although you can install solar panels on your own, it involves extra energy and expertise. That's why most homeowners choose a solar panel installer. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your home.
There are various licensed solar professionals that can help you install your solar system. 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 Hastings
Factors that Affect Solar Panel Costs in Hastings
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that determine your overall cost in Hastings: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. For that reason, it's a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That's why many Hastings homeowners choose to finance their solar panel systems to offset upfront costs. While solar loans make going solar more accessible for Hastings homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar panel companies in Hastings, and each can charge different amounts for labor and equipment. Some companies 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 choose a company that offers the products, warranties and services you want and also fit into 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 | $2.92 | $12,274 | $20,699 | 9.3 years |
| 8 kW | $2.87 | $16,051 | $27,913 | 9.1 years |
| 10 kW | $2.81 | $19,670 | $35,285 | 8.9 years |
| 12 kW | $2.75 | $23,132 | $42,814 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $50,501 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $58,344 | 8.4 years |
| 18 kW | $2.59 | $32,574 | $66,345 | 8.2 years |
| 20 kW | $2.53 | $35,406 | $74,504 | 8.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you opt for.
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar system is installed, such as updating your electrical system or roof.
- Contract: Even though reading through a contract can take a lot of time, 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.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Hastings, MI Solar Cost FAQs
How much does it cost to install solar panels in Hastings?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Hastings?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Hastings?
Most states have net metering programs of some kind. Through these, you can get paid for the extra power your system produces 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 Hastings?
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 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.