Solar Panel Cost Guide in North Branch, MI (2023 Update)
- North Branch Solar Installation Cost: $12,204
- 25-Year Savings: $12,916
- Payback Period: 12.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in North Branch
Find out what the average cost of a solar system is in North Branch.
The average cost of a solar panel system in North Branch is 2.81 per watt. The average North Branch homeowner needs a 6.2-kilowatt system, which would cost about $12,195 with the federal tax credit, or $17,439 before the 30% tax credit is applied.
These figures are only averages, and how much solar costs for you will vary based on your specific situation and what company you choose to go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in North Branch can save about $15,000 on their energy bills over 20 years.
To receive a free quote from a top solar installer in North Branch, you can click the button below.
Solar savings over time in North Branch
| Year | Return on Investment |
|---|---|
| 1 years | $-10,811 |
| 3 years | $-8,027 |
| 5 years | $-5,242 |
| 7 years | $-2,457 |
| 9 years | $327 |
| 11 years | $3,112 |
| 13 years | $5,897 |
| 15 years | $8,681 |
| 17 years | $11,466 |
| 19 years | $14,251 |
| 21 years | $17,035 |
| 23 years | $19,820 |
| 25 years | $22,605 |
Top Solar Installers in North Branch
Although you can install solar panels on your own, it takes extra labor and knowledge. For that reason, almost all homeowners choose to go with a solar panel installer. A solar company can also help save you money in the long run by offering warranties, repairs and component replacements.
Working with a professional solar company can make going solar easier. 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 North Branch
Factors that Affect Solar Panel Costs in North Branch
For many North Branch homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in North Branch, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most significant 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 electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in North Branch. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you're only able to 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 getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The last significant cost factor you should consider is the installer you choose. Given the growing popularity of renewable energy solutions in North Branch, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. You may see national solar installers that have lower prices because of their larger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $12,019 | 12.6 years |
| 8 kW | $2.87 | $16,051 | $16,340 | 12.4 years |
| 10 kW | $2.81 | $19,670 | $20,818 | 12.1 years |
| 12 kW | $2.75 | $23,132 | $25,454 | 11.9 years |
| 14 kW | $2.70 | $26,436 | $30,247 | 11.7 years |
| 16 kW | $2.64 | $29,584 | $35,198 | 11.4 years |
| 18 kW | $2.59 | $32,574 | $40,306 | 11.2 years |
| 20 kW | $2.53 | $35,406 | $45,571 | 10.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: An important thing to understand when adopting solar energy is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Though reading through a contract can be tedious, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 North Branch, MI Solar Cost FAQs
What is the average cost of installing solar panels in North Branch?
The average cost of solar panels in North Branch 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 North Branch?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to 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 financial benefits from going solar.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located 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 $809.77 per year.
How many solar panels do I need to power 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 take a 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 account for 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.