Solar Panel Cost Guide in Ishpeming, MI (2024 Update)
- Ishpeming Solar Installation Cost: $17,972
- 25-Year Savings: $35,400
- Payback Period: 9.4 Years
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Average Cost of Solar Panels in Ishpeming
Find out how much it might cost to go solar in Ishpeming.
In Ishpeming, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in Ishpeming, most homeowners require a 6.3-kilowatt system. Using the figure above, a solar installation costs about $17,972, or $25,700 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy consumption and what company you go with.Despite the large initial cost, the average Ishpeming homeowner can save about $29,000 on their power bills over 20 years, which is one of the perks of solar.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Ishpeming
| Year | Return on Investment |
|---|---|
| 1 years | $-16,178 |
| 3 years | $-12,588 |
| 5 years | $-8,999 |
| 7 years | $-5,409 |
| 9 years | $-1,820 |
| 11 years | $1,769 |
| 13 years | $5,359 |
| 15 years | $8,948 |
| 17 years | $12,538 |
| 19 years | $16,127 |
| 21 years | $19,717 |
| 23 years | $23,306 |
| 25 years | $26,895 |
Top Solar Installers in Ishpeming
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar panel installer can make converting to solar power much easier. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money after your initial investment.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Ishpeming
Factors that Affect Solar Panel Costs in Ishpeming
The cost of installing a solar system in Ishpeming can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest 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
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Ishpeming.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Ishpeming, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.While solar loans make adopting solar energy more accessible for Ishpeming homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installer you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Companies that 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 cost more. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also is 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 | $4.22 | $17,734 | $27,654 | 9.8 years |
| 8 kW | $4.14 | $23,191 | $37,327 | 9.6 years |
| 10 kW | $4.06 | $28,420 | $47,228 | 9.4 years |
| 12 kW | $3.98 | $33,422 | $57,355 | 9.2 years |
| 14 kW | $3.90 | $38,196 | $67,710 | 9.0 years |
| 16 kW | $3.82 | $42,744 | $78,292 | 8.8 years |
| 18 kW | $3.74 | $47,064 | $89,102 | 8.6 years |
| 20 kW | $3.65 | $51,156 | $100,139 | 8.5 years |
How to Save on Solar Panels
The solar panel company you opt for will be a major factor in determining not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: Different companies will offer various brands and kinds of panels. If you know you want a specific brand, make sure the solar panel installer you’re considering has it.
- 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 secure and what the project timeline is.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years most likely offer high-quality solar panel installation and expertise.
- Contract: It’s important to read through your solar installer’s contract carefully 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 Ishpeming, MI Solar Cost FAQs
How much does it cost to install solar panels in Ishpeming?
This is a tough question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Are solar panels free in Ishpeming?
Solar panels aren’t free in Ishpeming, 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 further reduce the cost.
Can solar panels eliminate my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Ishpeming, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
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 goes down 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.