Solar Panel Cost Guide in Niles, MI (2024 Update)
- Niles Solar Installation Cost: $16,836
- 25-Year Savings: $15,617
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Niles
We break down average solar pricing in Niles.
The average cost of a solar system in Niles is 4 per watt.Using this figure, a typical 5.9-kW system would cost about $16,836 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy use, the type of equipment you want, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually good, with a net average savings of about $17,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar installer in your area for a customized estimate.
Solar savings over time in Niles
| Year | Return on Investment |
|---|---|
| 1 years | $-15,611 |
| 3 years | $-13,163 |
| 5 years | $-10,714 |
| 7 years | $-8,265 |
| 9 years | $-5,816 |
| 11 years | $-3,367 |
| 13 years | $-918 |
| 15 years | $1,531 |
| 17 years | $3,979 |
| 19 years | $6,428 |
| 21 years | $8,877 |
| 23 years | $11,326 |
| 25 years | $13,775 |
Top Solar Installers in Niles
Many homeowners decide to use a solar panel company since trying to put up solar panels on your own can be challenging. In addition, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives and net metering programs.
There are several licensed solar professionals that can help you install your solar system. 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Niles
Factors that Affect Solar Panel Costs in Niles
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Niles: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Niles offer solar loans, which reduce the initial cost of installing solar.Even though solar loans make switching to solar energy more accessible for Niles homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you select will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions 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 | $4.22 | $17,734 | $9,885 | 16.1 years |
| 8 kW | $4.14 | $23,191 | $13,635 | 15.7 years |
| 10 kW | $4.06 | $28,420 | $17,613 | 15.4 years |
| 12 kW | $3.98 | $33,422 | $21,817 | 15.1 years |
| 14 kW | $3.90 | $38,196 | $26,249 | 14.8 years |
| 16 kW | $3.82 | $42,744 | $30,909 | 14.5 years |
| 18 kW | $3.74 | $47,064 | $35,795 | 14.2 years |
| 20 kW | $3.65 | $51,156 | $40,909 | 13.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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: The type of solar panel you want plays a part in which company you should opt for, since different companies provide different panels.
- Installation Process: One of the most important things to understand when adopting solar energy is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, completion timeline rebates and warranties.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Niles, MI Solar Cost FAQs
How much does it cost to install solar panels in Niles?
The average cost of solar panels in Niles is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.