Solar Panel Cost Guide in Marathon, MI (2023 Update)
- Marathon Solar Installation Cost: $12,195
- 25-Year Savings: $15,881
- Payback Period: 10.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marathon
Find out what the average cost of installing solar panels is in Marathon.
The national average cost of solar panels is $2.66 per watt, but in Marathon it's 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,195 before the 30% federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you may look different based on the amount of energy your home requires and what company you go with. Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Marathon can save around $17,000 on their electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Marathon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,072 |
| 3 years | $-8,826 |
| 5 years | $-6,580 |
| 7 years | $-4,334 |
| 9 years | $-2,088 |
| 11 years | $158 |
| 13 years | $2,404 |
| 15 years | $4,650 |
| 17 years | $6,896 |
| 19 years | $9,142 |
| 21 years | $11,388 |
| 23 years | $13,635 |
| 25 years | $15,881 |
Top Solar Installers in Marathon
Although it's possible to install solar panels by yourself, it involves extra effort and expertise. For that reason, almost all homeowners choose to go with a solar panel installer. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.
If you're looking for a solar company in Marathon, we've organized a list of our top suggestions here:
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 Marathon
Factors that Affect Solar Panel Costs in Marathon
There are many factors that can determine your 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
When it comes to estimating the cost of a solar energy system in Marathon, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can gauge by looking at past energy bills. Your overall cost can increase by about $2,810 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Marathon to be prohibitively costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. However, the interest on solar loans also adds to your total costs, so it's vital to take that into consideration as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can impact your pricing. Marathon's solar companies all have different labor costs and add varying upcharges to equipment. 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 come with an above-average cost. It's best to do some research and choose a company that has the products, warranties and services you want and also fit into 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 | $14,878 | 11.3 years |
| 8 kW | $2.87 | $16,051 | $20,152 | 11.1 years |
| 10 kW | $2.81 | $19,670 | $25,583 | 10.9 years |
| 12 kW | $2.75 | $23,132 | $31,172 | 10.6 years |
| 14 kW | $2.70 | $26,436 | $36,918 | 10.4 years |
| 16 kW | $2.64 | $29,584 | $42,821 | 10.2 years |
| 18 kW | $2.59 | $32,574 | $48,882 | 10.0 years |
| 20 kW | $2.53 | $35,406 | $55,100 | 9.8 years |
How to Save on Solar Panels
There are many companies available in Marathon, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be challenging, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will have different brands and models of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When looking through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: If you care about the endurance of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Marathon, MI Solar Cost FAQs
What is the average cost of installing solar panels in Marathon?
The average cost of solar panels in Marathon 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is switching to solar power worth it?
Solar panels can be a good investment for most 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 fairly low, solar panels might not be for you.
How long do solar panels last in Marathon?
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 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.