Solar Panel Cost Guide in Niles, MI (2023 Update)
- Niles Solar Installation Cost: $11,652
- 25-Year Savings: $15,617
- Payback Period: 10.7 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Niles
We go over average solar pricing in Niles.
The average cost of a solar panel system in Niles is 2.81 per watt. The average solar panel system size in Niles is around 5.9 kilowatts, meaning a cost of about $11,645 for a solar installation, or $16,652 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Niles 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 most homeowners, the upfront cost of solar panels is worth paying. On average Niles homeowners see about $17,000 in savings on utility bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Niles, you can click the button below.
Solar savings over time in Niles
| Year | Return on Investment |
|---|---|
| 1 years | $-11,562 |
| 3 years | $-11,380 |
| 5 years | $-11,198 |
| 7 years | $-11,016 |
| 9 years | $-10,834 |
| 11 years | $-10,653 |
| 13 years | $-10,471 |
| 15 years | $-10,289 |
| 17 years | $-10,107 |
| 19 years | $-9,925 |
| 21 years | $-9,744 |
| 23 years | $-9,562 |
| 25 years | $-9,380 |
Top Solar Installers in Niles
Many homeowners decide to use a solar installation company since installing solar panels on your own can be time-consuming. Companies can also provide access to various kinds of the best solar panels and help you decide which one will be best for your home.
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 Niles
Factors that Affect Solar Panel Costs in Niles
The cost of installing a solar system in Niles can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the price of a solar panel system in Niles, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $2,810 for each additional kilowatt you need. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Niles to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. However, the interest on solar loans also adds to your total costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can affect how much you pay. Niles' solar companies all have different labor costs and add varying upcharges to 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 specific equipment options like Tesla Powerwall batteries or additional 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 | $15,345 | 11.1 years |
| 8 kW | $2.87 | $16,051 | $20,775 | 10.9 years |
| 10 kW | $2.81 | $19,670 | $26,363 | 10.7 years |
| 12 kW | $2.75 | $23,132 | $32,107 | 10.5 years |
| 14 kW | $2.70 | $26,436 | $38,009 | 10.3 years |
| 16 kW | $2.64 | $29,584 | $44,069 | 10.0 years |
| 18 kW | $2.59 | $32,574 | $50,285 | 9.8 years |
| 20 kW | $2.53 | $35,406 | $56,659 | 9.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar company, make sure you look it over completely so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
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 Niles, MI Solar Cost FAQs
How much does it cost to install solar panels in Niles?
This is a tough question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $920.65 per year.
How long do solar panels last in Niles?
On average, the lifespan of solar panels is 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 larger level 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.