Solar Panel Cost Guide in Lake Fenton, MI (2024 Update)

  • Lake Fenton Solar Installation Cost: $17,718
  • 25-Year Savings: $16,252
  • Payback Period: 15.5 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lake Fenton

Find out what the average cost of solar panel installation is in Lake Fenton.

The average cost of a solar panel system in Lake Fenton is 4 per watt.The average solar panel system size in Lake Fenton is around 6.2 kilowatts, meaning a cost of about $17,718 for a solar installation, or $25,337 before the 0 federal solar tax credit is applied.

The true cost of your system can go higher or lower than the average in Lake Fenton based on a variety of factors, such as the kind of solar panels you choose and the solar installer you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite rewarding, with a net average savings of about $17,000 over 20 years on power bills.

For a personalized quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Lake Fenton

Year Return on Investment
1 years $-16,464
3 years $-13,957
5 years $-11,449
7 years $-8,942
9 years $-6,434
11 years $-3,927
13 years $-1,420
15 years $1,088
17 years $3,595
19 years $6,103
21 years $8,610
23 years $11,117
25 years $13,625

Top Solar Installers in Lake Fenton

Putting up solar panels on your own can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.

If you’d like to start using solar energy but still aren’t sure which solar panel installer to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Lake Fenton

Factors that Affect Solar Panel Costs in Lake Fenton

Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that affect your total cost in Lake Fenton: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.

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 Lake Fenton homeowners choose to finance their solar panel systems to offset upfront costs.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.

Solar Panel Installation Company

The solar panel installer you choose will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.

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 $9,709 16.2 years
8 kW $4.14 $23,191 $13,400 15.8 years
10 kW $4.06 $28,420 $17,319 15.5 years
12 kW $3.98 $33,422 $21,464 15.2 years
14 kW $3.90 $38,196 $25,838 14.9 years
16 kW $3.82 $42,744 $30,438 14.6 years
18 kW $3.74 $47,064 $35,266 14.3 years
20 kW $3.65 $51,156 $40,321 14.0 years

How to Save on Solar Panels

The solar panel company you opt for will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:

  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and what the project timeline is.
  • Solar Panel Brands: The type of solar panel you’d like to install plays a part in which company you should choose, since different companies provide different panels.
  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
  • Warranty: Many companies offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Lake Fenton, MI Solar Cost FAQs

How much does it cost to install solar panels in Lake Fenton?

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 be more expensive if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.

Are solar panels free in Lake Fenton?

You can’t get solar panels for free in Lake Fenton. However, you may still be able to install 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.

How much can I save on electricity bills after installing solar panels?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $914.77 per year.

How many solar panels should I get to power my home?

The exact number of solar panels you need depends on your household energy needs and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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.

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