Solar Panel Cost Guide in Homer, MI (2025 Update)
- Homer Solar Installation Cost: $17,459
- 25-Year Savings: $23,220
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Homer
Find out what the average cost of a solar system is in Homer.
The national average cost of solar panels is $2.66 per watt, but in Homer it’s 4 per watt.The average solar panel system size in Homer is around 6.1 kilowatts, meaning a cost of about $17,459 for a solar installation, or $24,966 before the 0 federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Homer homeowners. 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.Despite the significant initial cost, the average Homer homeowner can save around $22,000 on their electricity bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a top solar installation company in Homer, you can click the button below.
Solar savings over time in Homer
| Year | Return on Investment |
|---|---|
| 1 years | $-16,206 |
| 3 years | $-13,698 |
| 5 years | $-11,191 |
| 7 years | $-8,684 |
| 9 years | $-6,176 |
| 11 years | $-3,669 |
| 13 years | $-1,161 |
| 15 years | $1,346 |
| 17 years | $3,853 |
| 19 years | $6,361 |
| 21 years | $8,868 |
| 23 years | $11,376 |
| 25 years | $13,883 |
Top Solar Installers in Homer
Although it's possible to install solar panels yourself, it takes extra labor and handiness. Because of that, most homeowners choose a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy use, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you get the most out of incentives available in your area.
If you’d like to make the switch to solar but still aren’t sure which solar system company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Homer
Factors that Affect Solar Panel Costs in Homer
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few major factors that affect your total cost in Homer: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar system in Homer, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Homer, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.You’ll have to consider the long-term cost of loans, including the total 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 original cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The last significant 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 plenty of options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $16,746 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,783 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,047 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,539 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,258 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,204 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,377 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,778 | 11.1 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your overall 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:
- Reputation: Long-running companies 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.
- Warranty: Companies typically offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Different companies will have different brands and types of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project timeline rebates and warranties.
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 exactly, because the cost depends on a few different 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive 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’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Homer?
Solar panels can be a great investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.