Solar Panel Cost Guide in Iosco, MI (2023 Update)
- Iosco Solar Installation Cost: $12,169
- 25-Year Savings: $16,939
- Payback Period: 10.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Iosco
Find out how much it might cost to make the switch to solar in Iosco.
The average cost of a solar panel system in Iosco is 2.81 per watt. The average solar panel system size in Iosco is around 6.2 kilowatts, meaning a cost of about $12,176 for a solar installation, or $17,412 before the 30% federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Iosco based on a few factors, such as the brand of solar panels you choose and the solar company you hire. But, once you've paid the upfront cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on electricity 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 | $-10,915 |
| 3 years | $-8,408 |
| 5 years | $-5,900 |
| 7 years | $-3,393 |
| 9 years | $-885 |
| 11 years | $1,622 |
| 13 years | $4,129 |
| 15 years | $6,637 |
| 17 years | $9,144 |
| 19 years | $11,652 |
| 21 years | $14,159 |
| 23 years | $16,666 |
| 25 years | $19,174 |
Top Solar Installers in Iosco
Although you can install solar panels yourself, it requires extra energy and knowledge. Because of that, almost all homeowners choose to hire a solar panel installer. The payback period on an investment in solar panels will vary based on factors like your roof configuration and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
If you'd like to go solar but still aren't sure which solar system company to go with, here are our recommendations for providers in Iosco:
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 Iosco
Factors that Affect Solar Panel Costs in Iosco
There are a number of 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 performs the installation.
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 with better 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 $2,810. The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more pricey. Further, solar equipment goes beyond 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 searching for a solar system that's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a popular choice because they cut back your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also increases your overall costs, so it's vital to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Iosco is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for example, there are plenty of solar installers that provide a range of services at different costs. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and go with the company that provides the products, warranties and services you're looking for 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 | $15,956 | 10.9 years |
| 8 kW | $2.87 | $16,051 | $21,590 | 10.7 years |
| 10 kW | $2.81 | $19,670 | $27,381 | 10.5 years |
| 12 kW | $2.75 | $23,132 | $33,329 | 10.2 years |
| 14 kW | $2.70 | $26,436 | $39,434 | 10.0 years |
| 16 kW | $2.64 | $29,584 | $45,697 | 9.8 years |
| 18 kW | $2.59 | $32,574 | $52,118 | 9.6 years |
| 20 kW | $2.53 | $35,406 | $58,695 | 9.4 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:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Solar Panel Brands: Not all solar companies 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.
- 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: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Iosco, MI Solar Cost FAQs
How much does it cost to install solar panels in Iosco?
The average cost of solar panels in Iosco is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Iosco?
A solar panel system isn't free in Iosco, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
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 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.