Solar Panel Cost Guide in Homer, MI (2023 Update)
- Homer Solar Installation Cost: $12,084
- 25-Year Savings: $23,220
- Payback Period: 8.6 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Homer
Find out how much it might cost to switch to solar power in Homer.
Although the national average of solar panels is $2.66 per watt, solar panels in Homer typically cost around 2.81. The average solar panel system size in Homer is around 6.1 kilowatts, meaning a cost of about $12,077 for a solar installation, or $17,270 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy needs, the type of solar system you want to get, your solar contractor and more. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $22,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar company in Homer for a quote for your home.
Solar savings over time in Homer
| Year | Return on Investment |
|---|---|
| 1 years | $-11,966 |
| 3 years | $-11,731 |
| 5 years | $-11,496 |
| 7 years | $-11,260 |
| 9 years | $-11,025 |
| 11 years | $-10,789 |
| 13 years | $-10,554 |
| 15 years | $-10,319 |
| 17 years | $-10,083 |
| 19 years | $-9,848 |
| 21 years | $-9,613 |
| 23 years | $-9,377 |
| 25 years | $-9,142 |
Top Solar Installers in Homer
Many homeowners choose to hire a solar installation company since trying to install solar panels by yourself can be a lot of work. Plus, if you're unsure what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
If you're searching for a solar company in Homer, the EcoWatch team has compiled a list of our top suggestions here:
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 Homer
Factors that Affect Solar Panel Costs in Homer
Though the average cost of a solar system in Homer is $12,077, your actual cost may be higher or lower than that. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. There are many different solar panel brands and the one you pick also affects the cost. Generally, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Homer homeowners choose to finance their solar panel systems to make paying for solar more affordable. Although solar loans make switching to solar energy more accessible for Homer homeowners, they can also add to 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 avoid paying as much in interest.
Solar Panel Installation Company
The last key cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Homer, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 find a company that provides the products, warranties and services you're looking for 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 | $22,206 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $29,923 | 8.7 years |
| 10 kW | $2.81 | $19,670 | $37,797 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,829 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $54,018 | 8.2 years |
| 16 kW | $2.64 | $29,584 | $62,364 | 8.0 years |
| 18 kW | $2.59 | $32,574 | $70,867 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $79,528 | 7.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. Even though there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Contract: Although reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When going solar, it's necessary to maintain an open line of communication with your solar company. See to it that you understand how the installation process will go and the project completion timeline.
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 Homer, MI Solar Cost FAQs
What is the average cost of installing solar panels in Homer?
This is a hard question to answer precisely, because the cost depends on a variety of 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. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Homer?
You can't get solar panels for free in Homer. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my electricity bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Homer, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy usage 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 cover 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.