Solar Panel Cost Guide in Monitor, MI (2025 Update)
- Monitor Solar Installation Cost: $17,495
- 25-Year Savings: $21,664
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Monitor
Find out what the average cost of a solar system is in Monitor.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Monitor, the typical cost of a solar system is 4 per watt.The average Monitor homeowner needs a 6.2-kilowatt system, which would cost about $17,495 with the federal tax credit, or $25,018 before the 0 tax credit is applied.
The true cost of your system can be above or below the average in Monitor based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is usually fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
Click the button below to get connected to a vetted solar panel company in Monitor for a custom quote.
Solar savings over time in Monitor
| Year | Return on Investment |
|---|---|
| 1 years | $-16,241 |
| 3 years | $-13,734 |
| 5 years | $-11,226 |
| 7 years | $-8,719 |
| 9 years | $-6,212 |
| 11 years | $-3,704 |
| 13 years | $-1,197 |
| 15 years | $1,311 |
| 17 years | $3,818 |
| 19 years | $6,325 |
| 21 years | $8,833 |
| 23 years | $11,340 |
| 25 years | $13,848 |
Top Solar Installers in Monitor
DIY solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Taking advantage of an installer can make swapping over to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and bring down the cost of maintenance over time.
If you're searching for a solar company in Monitor, we've put together a list of our top suggestions here:
See all of the solar companies in Monitor
Factors that Affect Solar Panel Costs in Monitor
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Monitor: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make adopting solar energy more accessible for Monitor homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies operating in Monitor, and each can charge varying amounts for labor and equipment.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 is 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 | $15,183 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,699 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,442 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,412 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,610 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $45,035 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,688 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,568 | 11.7 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose considerably influences your costs and your system’s durability and efficiency, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a sound 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 satisfied reviews from past customers.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
EcoWatch's Monitor, MI Solar Cost FAQs
What is the average cost of installing solar panels in Monitor?
The average cost of solar panels in Monitor is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is it worth going solar in Monitor?
Solar panels can be a fruitful investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already reasonably low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.