Solar Panel Cost Guide in Montrose, MI (2023 Update)
- Montrose Solar Installation Cost: $12,254
- 25-Year Savings: $18,724
- Payback Period: 9.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Montrose
Let's take a look at the average cost of solar panels in Montrose.
The national average cost of solar panels is $2.66 per watt, but in Montrose it's 2.81 per watt. To account for the typical energy needs of the average home in Montrose, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,254, or $17,523 before the federal solar tax credit of 30% is applied.
These figures are only averages, and how much solar costs for you will differ based on your energy needs and what company you choose to go with. For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $19,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Montrose
| Year | Return on Investment |
|---|---|
| 1 years | $-11,015 |
| 3 years | $-8,537 |
| 5 years | $-6,059 |
| 7 years | $-3,581 |
| 9 years | $-1,102 |
| 11 years | $1,376 |
| 13 years | $3,854 |
| 15 years | $6,333 |
| 17 years | $8,811 |
| 19 years | $11,289 |
| 21 years | $13,767 |
| 23 years | $16,246 |
| 25 years | $18,724 |
Top Solar Installers in Montrose
Trying to install solar panels on your own can be a difficult project, which is why using a solar installer is a good option for many homeowners. Local solar installers can also help you optimize your return on investment by walking you through any local incentives and by offering warranties and repairs.
If you'd like to switch to solar energy but still aren't certain which solar system installer to go with, here are our suggestions for providers 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 Montrose
Factors that Affect Solar Panel Costs in Montrose
For many Montrose homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Montrose, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use. There are several different solar panel brands and the one you pick also changes the cost. Generally, the brands that are more efficient tend to also cost more. Plus, the type of equipment you choose 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
Solar panels can save you money on utility bills over time, but they can also be a big investment. That's why many Montrose homeowners choose to finance their solar panel systems to make going solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Montrose is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that offer a range of services at different costs. You may come across national solar installers that have lower prices because of 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 | $2.92 | $12,274 | $17,540 | 10.3 years |
| 8 kW | $2.87 | $16,051 | $23,701 | 10.1 years |
| 10 kW | $2.81 | $19,670 | $30,020 | 9.9 years |
| 12 kW | $2.75 | $23,132 | $36,496 | 9.7 years |
| 14 kW | $2.70 | $26,436 | $43,130 | 9.5 years |
| 16 kW | $2.64 | $29,584 | $49,921 | 9.3 years |
| 18 kW | $2.59 | $32,574 | $56,869 | 9.1 years |
| 20 kW | $2.53 | $35,406 | $63,974 | 8.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: When reading through your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- 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.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: If you're worried about the endurance of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Montrose, MI Solar Cost FAQs
How much does it cost to install solar panels in Montrose?
The average cost of solar panels in Montrose 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 things such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact how much my home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Montrose is currently $125,559, which means you could be looking at a value of about $5,148 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Montrose is a rewarding investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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 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.