Solar Panel Cost Guide in Iosco, MI (2024 Update)
- Iosco Solar Installation Cost: $17,582
- 25-Year Savings: $16,939
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Iosco
Find out how much it might cost to install solar panels in Iosco.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Iosco, the typical cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in Iosco, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,582, or $25,142 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar company in Iosco for a quote for your home.
Solar savings over time in Iosco
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Iosco
Although it's possible to install solar panels on your own, it takes extra effort and expertise. Because of that, most homeowners choose to hire a solar panel installer. Companies can also provide access to quality options of the best solar panels and help you decide which one will be best for your family.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Iosco
Factors that Affect Solar Panel Costs in Iosco
The cost of installing a solar system in Iosco can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.There are a lot of different solar panel brands and the one you pick also affects the cost. In many cases, the brands that offer higher efficiency tend to also be more expensive. Plus, 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 utility bills over many years, but they can also be a big investment. That’s why many Iosco homeowners opt to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to 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 getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Iosco, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $10,496 | 15.7 years |
| 8 kW | $4.14 | $23,191 | $14,450 | 15.4 years |
| 10 kW | $4.06 | $28,420 | $18,631 | 15.1 years |
| 12 kW | $3.98 | $33,422 | $23,039 | 14.8 years |
| 14 kW | $3.90 | $38,196 | $27,674 | 14.5 years |
| 16 kW | $3.82 | $42,744 | $32,537 | 14.2 years |
| 18 kW | $3.74 | $47,064 | $37,628 | 13.9 years |
| 20 kW | $3.65 | $51,156 | $42,945 | 13.6 years |
How to Save on Solar Panels
There are numerous companies to choose from in Iosco, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you choose.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you should know with your solar company, such as what permits you should acquire and how long the project will take.
- 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.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer’s reputation is by reading reviews.
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 Iosco, MI Solar Cost FAQs
What is the average cost of installing solar panels in Iosco?
This is a hard 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Iosco?
You can’t get solar panels for free in Iosco. However, you may still be able to afford 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.
Is it worth going solar in Iosco?
Solar panels can be a fruitful 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 power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
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.