Solar Panel Cost Guide in Michigan Center, MI (2024 Update)
- Michigan Center Solar Installation Cost: $17,403
- 25-Year Savings: $22,451
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Michigan Center
Let’s take a look at the average cost of solar panels in Michigan Center.
In Michigan Center, solar panels cost about 4 per watt on average.The average Michigan Center homeowner needs a 6.1-kilowatt system, which would cost about $17,403 with the federal tax credit, or $24,886 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary quite a bit depending on a few factors, such as what size system you need, your energy usage and what solar installer you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Michigan Center can save about $21,000 on their power bills over 20 years.
To get a free quote from a vetted solar installer in Michigan Center, you can click the button below.
Solar savings over time in Michigan Center
| Year | Return on Investment |
|---|---|
| 1 years | $-16,149 |
| 3 years | $-13,642 |
| 5 years | $-11,135 |
| 7 years | $-8,627 |
| 9 years | $-6,120 |
| 11 years | $-3,612 |
| 13 years | $-1,105 |
| 15 years | $1,402 |
| 17 years | $3,910 |
| 19 years | $6,417 |
| 21 years | $8,925 |
| 23 years | $11,432 |
| 25 years | $13,939 |
Top Solar Installers in Michigan Center
Although you can install solar panels by yourself, it involves extra effort and expertise. For that reason, most homeowners choose a solar panel installer. Another upside of going with a solar installer is that they can help you optimize your return of investment by reducing your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our suggestions for providers in Michigan Center:
See all of the solar companies in Michigan Center
Factors that Affect Solar Panel Costs in Michigan Center
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Michigan Center: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The size of the solar system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. There are many different solar panel brands and the one you pick also affects the cost. In many cases, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far 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 Michigan Center to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also lead to paying more over time because of interest.However, the interest on solar loans also increases your total costs, so it’s vital to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you select will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and choose a company that offers the products, warranties and services you want and also fits within 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 | $4.22 | $17,734 | $16,066 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,876 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,914 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,179 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,671 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,390 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $54,337 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,511 | 11.4 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Michigan Center, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the completion timeline.
- Contract: When looking over your solar company’s contract, ask questions about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
EcoWatch's Michigan Center, MI Solar Cost FAQs
What is the average cost of installing solar panels in Michigan Center?
This is a tough question to answer exactly, because the cost depends on a variety of 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 other solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Michigan Center?
Solar panels aren’t free in Michigan Center, 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 you can take advantage of.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Michigan Center is currently $189,199, which means you could be looking at a value of about $7,757 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Michigan Center is a rewarding investment.
How long do solar panels last in Michigan Center?
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 choose to replace them once you've had 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.