Solar Panel Cost Guide in Imlay City, MI (2023 Update)
- Imlay City Solar Installation Cost: $12,195
- 25-Year Savings: $12,924
- Payback Period: 12.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Imlay City
Find out what the average cost of solar panels are in Imlay City.
The national average cost of solar panels is $2.66 per watt, but in Imlay City it's 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,195 before the 30% federal solar tax credit is applied.
The true cost of your system can go higher or lower than the average in Imlay City depending on several factors, such as the model of solar panels you choose and the solar contractor you hire. With typical savings of about $15,000 on energy bills over 20 years, many homeowners in Imlay City find investing in solar has a decent ROI.
For a free quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Imlay City
| Year | Return on Investment |
|---|---|
| 1 years | $-11,191 |
| 3 years | $-9,181 |
| 5 years | $-7,171 |
| 7 years | $-5,162 |
| 9 years | $-3,152 |
| 11 years | $-1,143 |
| 13 years | $867 |
| 15 years | $2,876 |
| 17 years | $4,886 |
| 19 years | $6,896 |
| 21 years | $8,905 |
| 23 years | $10,915 |
| 25 years | $12,924 |
Top Solar Installers in Imlay City
Although it's possible to install solar panels on your own, it involves extra energy and know-how. For that reason, almost all homeowners choose to go with a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your family.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some nearby:
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 Imlay City
Factors that Affect Solar Panel Costs in Imlay City
The cost of installing a solar system in Imlay City can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Imlay City, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past electricity bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you just 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 many years, but they can also be a significant investment. That's why many Imlay City homeowners decide to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your total costs, so it's crucial to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can impact the cost. Imlay City's solar companies all have different labor costs and add varying upcharges to 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 at a higher cost. It's best to do some research and decide on the company that provides the products, warranties and services you want and also fits within 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 | $12,019 | 12.6 years |
| 8 kW | $2.87 | $16,051 | $16,340 | 12.4 years |
| 10 kW | $2.81 | $19,670 | $20,818 | 12.1 years |
| 12 kW | $2.75 | $23,132 | $25,454 | 11.9 years |
| 14 kW | $2.70 | $26,436 | $30,247 | 11.7 years |
| 16 kW | $2.64 | $29,584 | $35,198 | 11.4 years |
| 18 kW | $2.59 | $32,574 | $40,306 | 11.2 years |
| 20 kW | $2.53 | $35,406 | $45,571 | 10.9 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 decide on the right company for you, here are some tips to keep in mind:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Contract: Before signing a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you're concerned about the durability of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Imlay City, MI Solar Cost FAQs
What is the average cost of installing solar panels in Imlay City?
This is a hard question to answer exactly, because the cost depends on a few different 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 cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Imlay City?
A solar panel system isn't free in Imlay City, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will solar panels impact the value of my home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Imlay City is currently $167,200, so you can expect a value of about $6,855 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Imlay City is a worthwhile investment.
How long do solar panels last in Imlay City?
On average, the lifespan of solar panels is 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 larger 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.