Solar Panel Cost Guide in New Baltimore, MI (2023 Update)

  • New Baltimore Solar Installation Cost: $11,959
  • 25-Year Savings: $13,160
  • Payback Period: 11.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated May 04, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in New Baltimore

Find out how much it might cost to switch to solar power in New Baltimore.

Currently, the national average cost of solar panels is $2.66 per watt. However, in New Baltimore, the average cost of a solar system is 2.81 per watt. To account for the typical energy needs of the average home in New Baltimore, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $11,959, or $17,101 before the federal solar tax credit of 30% is applied.

Keep in mind that the figures above are only estimates based on the average energy use of New Baltimore homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on energy bills over 20 years.

To get a free estimate from a pre-vetted solar company in New Baltimore, you can click the button below.

Solar savings over time in New Baltimore

Year Return on Investment
1 years $-10,955
3 years $-8,945
5 years $-6,935
7 years $-4,926
9 years $-2,916
11 years $-907
13 years $1,103
15 years $3,112
17 years $5,122
19 years $7,132
21 years $9,141
23 years $11,151
25 years $13,160

Top Solar Installers in New Baltimore

Many homeowners choose to use a solar panel installer since trying to put up solar panels on your own can be time-consuming. The expertise that solar installers provide can be valuable as well, particularly if you don't quite know what type of solar equipment would be right for your home.

You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some nearby:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 New Baltimore

Factors that Affect Solar Panel Costs in New Baltimore

Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in New Baltimore: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.

Solar Equipment

The size of the solar energy 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 about $2,810. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like New Baltimore, where sunlight is relatively abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a significant investment. That's why many New Baltimore homeowners decide to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs significantly.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panel system can impact your pricing. New Baltimore's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies compete with them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle 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 $12,529 12.4 years
8 kW $2.87 $16,051 $17,020 12.1 years
10 kW $2.81 $19,670 $21,668 11.9 years
12 kW $2.75 $23,132 $26,474 11.7 years
14 kW $2.70 $26,436 $31,437 11.4 years
16 kW $2.64 $29,584 $36,557 11.2 years
18 kW $2.59 $32,574 $41,835 10.9 years
20 kW $2.53 $35,406 $47,270 10.7 years

How to Save on Solar Panels

There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:

  • Contract: It's important to read your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Solar Panel Brands: The model of solar panel you need plays a part in which installer you should choose, since different companies have different panels.
  • Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
  • Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 New Baltimore, MI Solar Cost FAQs

What is the average cost of installing solar panels in New Baltimore?

The average cost of solar panels in New Baltimore 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 model of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in New Baltimore?

A solar panel system isn't free in New Baltimore, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.

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 New Baltimore is currently $202,255, so you could be looking at a value of about $8,292 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in New Baltimore is a worthwhile investment.

How long do solar panels last in New Baltimore?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.

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.

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