Solar Panel Cost Guide in Michigan Center, MI (2023 Update)
- Michigan Center Solar Installation Cost: $12,038
- 25-Year Savings: $22,458
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Michigan Center
Let's have a look at the average cost of solar panels in Michigan Center.
While the national average of solar panels is $2.66 per watt, solar panels in Michigan Center generally cost about 2.81. Since a 6.1-kW system is needed to cover the energy usage of a typical home in Michigan Center, the average price of going solar will be about $12,038 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of making the switch to solar can vary quite a bit depending on a few factors, such as how many panels you need, your energy usage and what installation company you go with. But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
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 | $-10,658 |
| 3 years | $-7,898 |
| 5 years | $-5,139 |
| 7 years | $-2,379 |
| 9 years | $381 |
| 11 years | $3,140 |
| 13 years | $5,900 |
| 15 years | $8,660 |
| 17 years | $11,420 |
| 19 years | $14,179 |
| 21 years | $16,939 |
| 23 years | $19,699 |
| 25 years | $22,458 |
Top Solar Installers in Michigan Center
Although you can install solar panels yourself, it involves extra energy and handiness. For that reason, almost all homeowners choose a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what kind of solar equipment you need.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some nearby:
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 Michigan Center
Factors that Affect Solar Panel Costs in Michigan Center
For many Michigan Center homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Michigan Center, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use 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 $2,810. The type of solar panels and equipment you choose is another factor that will greatly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about 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's in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over five to seven years on average. When figuring out your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can impact your pricing. Michigan Center's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $21,526 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $29,016 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,664 | 8.7 years |
| 12 kW | $2.75 | $23,132 | $44,469 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $52,431 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,550 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $68,827 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $77,261 | 7.9 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly impacts your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Contract: When looking through your solar installer'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 component breaking or the company going out of business.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects 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 Michigan Center, MI Solar Cost FAQs
What is the average cost of installing solar panels in Michigan Center?
The average cost of solar panels in Michigan Center 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 certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in Michigan Center?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Is it worth going solar in Michigan Center?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.