Solar Panel Cost Guide in Mundy, MI (2024 Update)
- Mundy Solar Installation Cost: $17,718
- 25-Year Savings: $18,515
- Payback Period: 14.4 Years
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Average Cost of Solar Panels in Mundy
Find out what the average cost of a solar system is in Mundy.
The national average cost of solar panels is $2.66 per watt, but in Mundy it’s 4 per watt.The average Mundy homeowner needs a 6.2-kilowatt system, which would cost about $17,718 with the federal tax credit, or $25,337 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average Mundy homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the savings for most homeowners is typically good, with a net average savings of about $19,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Mundy
| Year | Return on Investment |
|---|---|
| 1 years | $-16,464 |
| 3 years | $-13,957 |
| 5 years | $-11,449 |
| 7 years | $-8,942 |
| 9 years | $-6,434 |
| 11 years | $-3,927 |
| 13 years | $-1,420 |
| 15 years | $1,088 |
| 17 years | $3,595 |
| 19 years | $6,103 |
| 21 years | $8,610 |
| 23 years | $11,117 |
| 25 years | $13,625 |
Top Solar Installers in Mundy
When going solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a time-consuming project. Another benefit of using a solar company is that they can help you maximize your ROI by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Mundy
Factors that Affect Solar Panel Costs in Mundy
For many Mundy homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Mundy, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, 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 type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bring your total well above the Mundy average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are provided by most installers in Mundy, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.While solar loans make switching to solar energy more accessible for Mundy homeowners, they can also add to 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 company you hire to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Mundy, and each can charge different amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It’s best to do some research and go with the company that provides the products, warranties and services you’re looking for and also fit into 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 | $11,887 | 15.0 years |
| 8 kW | $4.14 | $23,191 | $16,304 | 14.7 years |
| 10 kW | $4.06 | $28,420 | $20,949 | 14.4 years |
| 12 kW | $3.98 | $33,422 | $25,821 | 14.1 years |
| 14 kW | $3.90 | $38,196 | $30,920 | 13.8 years |
| 16 kW | $3.82 | $42,744 | $36,247 | 13.5 years |
| 18 kW | $3.74 | $47,064 | $41,801 | 13.2 years |
| 20 kW | $3.65 | $51,156 | $47,582 | 13.0 years |
How to Save on Solar Panels
The solar company you go with will be a major factor in determining not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven 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 positive reviews from past customers.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Contract: Although reading through a contract can be tedious, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
EcoWatch's Mundy, MI Solar Cost FAQs
What is the average cost of installing solar panels in Mundy?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Mundy?
Solar panels aren’t free in Mundy, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase your home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Mundy is currently $304,776, which means you could be looking at a value of about $12,496 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Mundy is a worthwhile investment.
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 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 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.