Solar Panel Cost Guide in Houghton Lake, MI (2024 Update)
- Houghton Lake Solar Installation Cost: $17,735
- 25-Year Savings: $23,029
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Houghton Lake
Find out what the average cost of a solar system is in Houghton Lake.
In Houghton Lake, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Houghton Lake, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs around $17,735, or $25,361 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Houghton Lake homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the large upfront cost, the average Houghton Lake homeowner can save about $21,000 on their energy bills over 20 years, which is one of the perks of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Houghton Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,482 |
| 3 years | $-13,974 |
| 5 years | $-11,467 |
| 7 years | $-8,959 |
| 9 years | $-6,452 |
| 11 years | $-3,945 |
| 13 years | $-1,437 |
| 15 years | $1,070 |
| 17 years | $3,578 |
| 19 years | $6,085 |
| 21 years | $8,592 |
| 23 years | $11,100 |
| 25 years | $13,607 |
Top Solar Installers in Houghton Lake
When switching to solar energy, many homeowners choose to hire a solar installer since putting up a solar system yourself can be a challenging project. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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 Houghton Lake
Factors that Affect Solar Panel Costs in Houghton Lake
There are many factors that can affect your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Houghton Lake, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Houghton Lake offer solar loans, which reduce your upfront costs of installing a solar system.Even though solar loans make adopting solar energy more accessible for Houghton Lake 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
Finally, the company you opt for to install your solar panels can play a role in determining your pricing. Houghton Lake’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their larger 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 | $16,210 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $22,068 | 12.8 years |
| 10 kW | $4.06 | $28,420 | $28,153 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,466 | 12.3 years |
| 14 kW | $3.90 | $38,196 | $41,006 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,774 | 11.8 years |
| 18 kW | $3.74 | $47,064 | $54,769 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,991 | 11.3 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a good reputation as a company and have demonstrated 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 satisfied reviews from previous customers.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: When making the switch to solar power, it’s essential to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand how much it will cost, completion timeline rebates and warranties.
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 Houghton Lake, MI Solar Cost FAQs
How much does it cost to install solar panels in Houghton Lake?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally 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 other 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.
Is it better to lease or buy solar panels in Houghton Lake?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
Can you sell solar power back to the grid in Houghton Lake?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How long do solar panels last in Houghton Lake?
On average, solar panels can last 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.