Solar Panel Cost Guide in Larkin, MI (2024 Update)
- Larkin Solar Installation Cost: $17,459
- 25-Year Savings: $23,220
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Larkin
Let’s have a look at the average cost of solar panels in Larkin.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Larkin, the average cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in Larkin, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $17,459, or $24,966 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 look quite different based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.Many homeowners find going solar is a fruitful investment. The average homeowner in Larkin can save about $22,000 on their energy bills over 20 years.
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 Larkin
| Year | Return on Investment |
|---|---|
| 1 years | $-16,206 |
| 3 years | $-13,698 |
| 5 years | $-11,191 |
| 7 years | $-8,684 |
| 9 years | $-6,176 |
| 11 years | $-3,669 |
| 13 years | $-1,161 |
| 15 years | $1,346 |
| 17 years | $3,853 |
| 19 years | $6,361 |
| 21 years | $8,868 |
| 23 years | $11,376 |
| 25 years | $13,883 |
Top Solar Installers in Larkin
Trying to put up solar panels on your own can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
If you’d like to switch to solar energy but still aren’t sure which solar system installer to go with, here are our recommendations for providers in Larkin:
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 Larkin
Factors that Affect Solar Panel Costs in Larkin
The cost of installing a solar system in Larkin can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The brand of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a solid route because they cut back your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar company you select will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $16,746 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,783 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,047 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,539 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,258 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,204 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,377 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,778 | 11.1 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project timeline rebates and warranties.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Warranty: Warranties that cover defective panels and repairs over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
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 Larkin, MI Solar Cost FAQs
What is the average cost of installing solar panels in Larkin?
The average cost of solar panels in Larkin is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a beneficial investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How long do solar panels last in Larkin?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.