Solar Panel Cost Guide in Marion, MI (2023 Update)
- Marion Solar Installation Cost: $12,176
- 25-Year Savings: $16,339
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Marion
Let's take a look at the average cost of solar in Marion.
Although the national average of solar panels is $2.66 per watt, solar panels in Marion typically cost about 2.81. To cover the typical energy needs of the average home in Marion, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $12,176, or $17,412 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. But, after you've paid the upfront cost of installation, the payback for most homeowners is typically fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Marion
| Year | Return on Investment |
|---|---|
| 1 years | $-11,035 |
| 3 years | $-8,754 |
| 5 years | $-6,473 |
| 7 years | $-4,192 |
| 9 years | $-1,910 |
| 11 years | $371 |
| 13 years | $2,652 |
| 15 years | $4,933 |
| 17 years | $7,214 |
| 19 years | $9,495 |
| 21 years | $11,777 |
| 23 years | $14,058 |
| 25 years | $16,339 |
Top Solar Installers in Marion
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make swapping over to solar power much easier. The expertise that solar companies offer can be helpful as well, especially if you aren't sure what type of solar equipment would be right for your home.
If you're searching for a solar company in Marion, the EcoWatch team has compiled 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 Marion
Factors that Affect Solar Panel Costs in Marion
Though the average cost of a solar system in Marion is $12,176, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. The kind of solar panels and equipment you want is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, 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 looking for a solar system that falls within your budget.
Solar Financing Terms
Most solar companies in Marion offer solar loans, which reduce the initial cost of installing solar. However, the interest on solar loans also increases your all-in costs, so it's crucial to include that in your estimate as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar system can influence your pricing. Marion's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Marion have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $15,381 | 11.1 years |
| 8 kW | $2.87 | $16,051 | $20,823 | 10.9 years |
| 10 kW | $2.81 | $19,670 | $26,422 | 10.7 years |
| 12 kW | $2.75 | $23,132 | $32,179 | 10.5 years |
| 14 kW | $2.70 | $26,436 | $38,092 | 10.2 years |
| 16 kW | $2.64 | $29,584 | $44,164 | 10.0 years |
| 18 kW | $2.59 | $32,574 | $50,392 | 9.8 years |
| 20 kW | $2.53 | $35,406 | $56,778 | 9.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- 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 how long it will take.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Marion, MI Solar Cost FAQs
What is the average cost of installing solar panels in Marion?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Are solar panels free in Marion?
A solar panel system isn't free in Marion, but there are some options that can make getting them more viable, 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 power bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Marion, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate 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 long do solar panels last in Marion?
On average, the lifespan of solar panels is 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 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.