Solar Panel Cost Guide in Muskegon, MI (2023 Update)
- Muskegon Solar Installation Cost: $11,315
- 25-Year Savings: $23,532
- Payback Period: 8.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Muskegon
Let's have a look at the average cost of solar in Muskegon.
The average cost of a solar panel system in Muskegon is 2.81 per watt. The average solar panel system size in Muskegon is around 5.8 kilowatts, meaning a cost of about $11,310 for a solar installation, or $16,173 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Muskegon homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually rewarding, with a net average savings of about $23,000 over 20 years on energy bills.
To get a free estimate from a vetted solar installation company in Muskegon, you can click the button below.
Solar savings over time in Muskegon
| Year | Return on Investment |
|---|---|
| 1 years | $-11,199 |
| 3 years | $-10,967 |
| 5 years | $-10,734 |
| 7 years | $-10,502 |
| 9 years | $-10,270 |
| 11 years | $-10,037 |
| 13 years | $-9,805 |
| 15 years | $-9,573 |
| 17 years | $-9,340 |
| 19 years | $-9,108 |
| 21 years | $-8,876 |
| 23 years | $-8,643 |
| 25 years | $-8,411 |
Top Solar Installers in Muskegon
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Using a solar panel installer can make your swap to solar power much easier. The expertise that solar companies provide can be invaluable as well, particularly if you aren't sure what type of solar equipment would be right for your home.
If you'd like to go solar but still aren't sure which solar system installer to go with, here are our recommendations for providers near you:
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 Muskegon
Factors that Affect Solar Panel Costs in Muskegon
Cost is often one of the most important factors for homeowners considering investing in solar. There are a few primary factors that determine your overall cost in Muskegon: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in Muskegon. The type of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond 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 for a solar system that's in your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are offered by most installers in Muskegon, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable. When figuring out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The final key cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Muskegon, you'll have many options to choose from, but each comes at different price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $24,072 | 8.4 years |
| 8 kW | $2.87 | $16,051 | $32,411 | 8.3 years |
| 10 kW | $2.81 | $19,670 | $40,907 | 8.1 years |
| 12 kW | $2.75 | $23,132 | $49,561 | 8.0 years |
| 14 kW | $2.70 | $26,436 | $58,372 | 7.8 years |
| 16 kW | $2.64 | $29,584 | $67,340 | 7.6 years |
| 18 kW | $2.59 | $32,574 | $76,466 | 7.5 years |
| 20 kW | $2.53 | $35,406 | $85,749 | 7.3 years |
How to Save on Solar Panels
There are numerous companies available in Muskegon, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- 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 how long it will take.
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 Muskegon, MI Solar Cost FAQs
How much does it cost to install solar panels in Muskegon?
The average cost of solar panels in Muskegon 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 certain factors 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 Muskegon?
Leasing solar panels can be an option if you can't pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on electricity bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,211.55 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.