Solar Panel Cost Guide in Menominee, MI (2024 Update)
- Menominee Solar Installation Cost: $17,321
- 25-Year Savings: $33,842
- Payback Period: 9.4 Years
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Average Cost of Solar Panels in Menominee
We break down average solar pricing in Menominee.
Although the national average of solar panels is $2.66 per watt, solar panels in Menominee typically cost about 4.The average solar panel system size in Menominee is around 6.1 kilowatts, meaning a cost of about $17,321 for a solar installation, or $24,769 before the 0 federal solar tax credit is applied.
The actual price you pay can go higher or lower than the average in Menominee depending on several factors, such as the model of solar panels you choose and the solar contractor you hire.With average savings of about $29,000 on utility bills over 20 years, many homeowners in Menominee find going solar can be quite rewarding.
To receive a free estimate from a pre-vetted solar installation company in Menominee, you can click the button below.
Solar savings over time in Menominee
| Year | Return on Investment |
|---|---|
| 1 years | $-15,686 |
| 3 years | $-12,416 |
| 5 years | $-9,146 |
| 7 years | $-5,877 |
| 9 years | $-2,607 |
| 11 years | $663 |
| 13 years | $3,933 |
| 15 years | $7,203 |
| 17 years | $10,473 |
| 19 years | $13,743 |
| 21 years | $17,013 |
| 23 years | $20,283 |
| 25 years | $23,553 |
Top Solar Installers in Menominee
Many homeowners choose to hire a solar panel company since figuring out how to install solar panels yourself can be time-consuming. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Menominee
Factors that Affect Solar Panel Costs in Menominee
For many Menominee homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Menominee, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Menominee to be too costly, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest.However, the interest on solar loans also increases your overall costs, so it’s crucial to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating in Menominee, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $27,383 | 9.8 years |
| 8 kW | $4.14 | $23,191 | $36,966 | 9.6 years |
| 10 kW | $4.06 | $28,420 | $46,775 | 9.4 years |
| 12 kW | $3.98 | $33,422 | $56,813 | 9.3 years |
| 14 kW | $3.90 | $38,196 | $67,077 | 9.1 years |
| 16 kW | $3.82 | $42,744 | $77,569 | 8.9 years |
| 18 kW | $3.74 | $47,064 | $88,288 | 8.7 years |
| 20 kW | $3.65 | $51,156 | $99,235 | 8.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel installer. Make sure you understand how the installation process works and the project completion 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 Menominee, MI Solar Cost FAQs
How much does it cost to install solar panels in Menominee?
This is a tough question to answer exactly, 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Menominee?
Solar panels aren’t free in Menominee, 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 you can take advantage of.
Can you sell solar power back to the grid in Menominee?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future energy bills.
How long do solar panels last in Menominee?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using 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.