Solar Panel Cost Guide in Mundy, MI (2023 Update)
- Mundy Solar Installation Cost: $12,263
- 25-Year Savings: $18,515
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Mundy
Find out what the average cost of installing solar panels is in Mundy.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Mundy, the typical cost of solar panels is 2.81 per watt. The average Mundy homeowner needs a 6.2-kilowatt system, which would cost about $12,254 with the federal tax credit, or $17,523 before the 30% tax credit is applied.
These figures are only averages, and how much solar costs for you will vary based on your energy needs and what company you go with. For many homeowners, the upfront investment in solar is worth paying. On average Mundy homeowners see about $19,000 in savings on energy bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Mundy
| Year | Return on Investment |
|---|---|
| 1 years | $-12,160 |
| 3 years | $-11,955 |
| 5 years | $-11,750 |
| 7 years | $-11,545 |
| 9 years | $-11,339 |
| 11 years | $-11,134 |
| 13 years | $-10,929 |
| 15 years | $-10,724 |
| 17 years | $-10,519 |
| 19 years | $-10,313 |
| 21 years | $-10,108 |
| 23 years | $-9,903 |
| 25 years | $-9,698 |
Top Solar Installers in Mundy
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Using an installer can make converting to solar power much easier. Also, companies with a good reputation that cost more upfront could actually save you money in the long term due to their warranties, repair services and expert design.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Mundy
Factors that Affect Solar Panel Costs in Mundy
Though the average cost of a solar system in Mundy is $12,254, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Mundy, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can figure out by looking at past electricity bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Mundy, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Mundy offer solar loans, which reduce your upfront costs of installing solar. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panels can influence your pricing. Mundy's solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $17,347 | 10.4 years |
| 8 kW | $2.87 | $16,051 | $23,444 | 10.2 years |
| 10 kW | $2.81 | $19,670 | $29,699 | 10.0 years |
| 12 kW | $2.75 | $23,132 | $36,111 | 9.8 years |
| 14 kW | $2.70 | $26,436 | $42,680 | 9.6 years |
| 16 kW | $2.64 | $29,584 | $49,407 | 9.4 years |
| 18 kW | $2.59 | $32,574 | $56,291 | 9.2 years |
| 20 kW | $2.53 | $35,406 | $63,332 | 9.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you opt for.
- Contract: When looking through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Warranty: If you're worried about the longevity of your solar system, verifying that 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 Mundy, MI Solar Cost FAQs
How much does it cost to install solar panels in Mundy?
The average cost of solar panels in Mundy is about $14,050 for a 5-kW system and $28,100 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 consume.
Is it better to lease or buy solar panels in Mundy?
Leasing solar panels can be an attractive choice, because it usually comes with low or $0 upfront payments. The drawback 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 maximize your savings.
How much can I save on electricity bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Mundy, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.