Solar Panel Cost Guide in Middleville, MI (2024 Update)
- Middleville Solar Installation Cost: $17,425
- 25-Year Savings: $22,444
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Middleville
Let’s have a look at the average cost of solar panels in Middleville.
The average cost of solar panels in Middleville is 4 per watt.The average Middleville homeowner needs a 6.1-kilowatt system, which would cost about $17,425 with the federal tax credit, or $24,918 before the 0 tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely differ based on the amount of energy your home requires and what company you choose to go with.With typical savings of about $21,000 on utility bills over 20 years, many homeowners in Middleville find investing in solar can be quite rewarding.
You can click the button below to get connected with a pre-vetted solar company in Middleville that can help you get a more accurate cost estimate for your home.
Solar savings over time in Middleville
| Year | Return on Investment |
|---|---|
| 1 years | $-16,171 |
| 3 years | $-13,664 |
| 5 years | $-11,156 |
| 7 years | $-8,649 |
| 9 years | $-6,141 |
| 11 years | $-3,634 |
| 13 years | $-1,127 |
| 15 years | $1,381 |
| 17 years | $3,888 |
| 19 years | $6,396 |
| 21 years | $8,903 |
| 23 years | $11,410 |
| 25 years | $13,918 |
Top Solar Installers in Middleville
Trying to install solar panels on your own can be a challenging undertaking, which is why getting a solar installer is a good option for many homeowners. Plus, if you’re unsure what kind of solar panels and equipment you may need, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Middleville, the EcoWatch team has organized a list of our top suggestions here:
See all of the solar companies in Middleville
Factors that Affect Solar Panel Costs in Middleville
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Middleville: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s important to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, solar equipment consists of more than 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 into a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are provided by most installers in Middleville, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can affect your pricing. Middleville’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $16,032 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,831 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,857 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,111 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,591 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,300 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $54,235 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,398 | 11.4 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get detailed information 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.
- Contract: Before you sign a contract with a solar installer, make sure you look it over fully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of options before deciding.
EcoWatch's Middleville, MI Solar Cost FAQs
How much does it cost to install solar panels in Middleville?
The average cost of solar panels in Middleville is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Middleville?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and how much direct sunlight your roof gets.
How long do solar panels last in Middleville?
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 their energy production will have decreased significantly after that point. You can 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.