Solar Panel Cost Guide in Houghton, MI (2024 Update)
- Houghton Solar Installation Cost: $17,893
- 25-Year Savings: $41,772
- Payback Period: 8.3 Years
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Average Cost of Solar Panels in Houghton
We go over average solar pricing in Houghton.
The average cost of solar panels in Houghton is 4 per watt.The average solar panel system size in Houghton is around 6.3 kilowatts, meaning a cost of about $17,893 for a solar installation, or $25,587 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 Houghton homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $33,000 on energy bills over 20 years, many homeowners in Houghton find investing in solar has a decent ROI.
To receive a free estimate from a top solar installer in Houghton, you can click the button below.
Solar savings over time in Houghton
| Year | Return on Investment |
|---|---|
| 1 years | $-16,098 |
| 3 years | $-12,509 |
| 5 years | $-8,919 |
| 7 years | $-5,330 |
| 9 years | $-1,741 |
| 11 years | $1,849 |
| 13 years | $5,438 |
| 15 years | $9,028 |
| 17 years | $12,617 |
| 19 years | $16,207 |
| 21 years | $19,796 |
| 23 years | $23,385 |
| 25 years | $26,975 |
Top Solar Installers in Houghton
When making the switch to solar, many homeowners prefer to hire a solar company since installing solar panels yourself can be a challenging project. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term due to their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Houghton
Factors that Affect Solar Panel Costs in Houghton
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few major factors that will push your cost above or below the average in Houghton: 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 going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Houghton.The brand of solar panels and equipment you get is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they decrease your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay off the loan.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Houghton, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger 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 | $33,876 | 8.6 years |
| 8 kW | $4.14 | $23,191 | $45,623 | 8.4 years |
| 10 kW | $4.06 | $28,420 | $57,597 | 8.3 years |
| 12 kW | $3.98 | $33,422 | $69,799 | 8.1 years |
| 14 kW | $3.90 | $38,196 | $82,228 | 7.9 years |
| 16 kW | $3.82 | $42,744 | $94,884 | 7.8 years |
| 18 kW | $3.74 | $47,064 | $107,768 | 7.6 years |
| 20 kW | $3.65 | $51,156 | $120,879 | 7.4 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- Solar Panel Brands: The kind of solar panel you’d like plays a role in which installer you should opt for, since different companies provide different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from past customers.
- Contract: It’s important to read your solar installer’s contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
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 Houghton, MI Solar Cost FAQs
What is the average cost of installing solar panels in Houghton?
The average cost of solar panels in Houghton is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Houghton?
You can’t get solar panels for free in Houghton. 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.
How will solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Houghton is currently $230,207, which means you could be looking at a value of about $9,438 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Houghton is a fruitful investment.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.