Solar Panel Cost Guide in Muskegon, MI (Mar 2023)
- Muskegon Solar Installation Cost: $11,310
- 25-Year Savings: $23,537
- Payback Period: 8.1 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Muskegon
We go over average solar pricing in Muskegon.
The national average cost of solar panels is $2.66 per watt, but in Muskegon it's 2.81 per watt. Using this figure, a typical 5.8-kW system would cost about $11,310 before the 30% federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you may look different based on your energy needs and what company you want to go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Muskegon see about $23,000 in savings on utility bills over 20 years.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Muskegon
| Year | Return on Investment |
|---|---|
| 1 years | $-9,916 |
| 3 years | $-7,129 |
| 5 years | $-4,341 |
| 7 years | $-1,553 |
| 9 years | $1,235 |
| 11 years | $4,023 |
| 13 years | $6,810 |
| 15 years | $9,598 |
| 17 years | $12,386 |
| 19 years | $15,174 |
| 21 years | $17,961 |
| 23 years | $20,749 |
| 25 years | $23,537 |
Top Solar Installers in Muskegon
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be a labor-intensive endeavor. Plus, if you're not certain what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
For many Muskegon homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Muskegon, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,810. The brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a solid choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can play a part in determining the cost. Muskegon's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk 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 | $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
Since the kind of solar panels and the installation company you choose significantly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating your electrical system or roof.
- Contract: Read the contract terms carefully to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running for a long time and save you money on repairs and maintenance.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you go with.
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
What is the average cost of installing 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 real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Muskegon?
Leasing solar panels can be an appealing choice, as it commonly 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 option if you want to maximize your savings.
How will having solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.