Solar Panel Cost Guide in Norton Shores, MI (2023 Update)
- Norton Shores Solar Installation Cost: $11,310
- 25-Year Savings: $23,354
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Norton Shores
Let's have a look at the average cost of solar in Norton Shores.
In Norton Shores, solar panels cost about 2.81 per watt on average. The average Norton Shores homeowner needs a 5.8-kilowatt system, which would cost about $11,310 with the federal tax credit, or $16,173 before the 30% tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you want, your solar contractor and more. Even with the significant initial cost, the average Norton Shores homeowner can save around $23,000 on their electricity bills over 20 years, which is one of the benefits of solar.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Norton Shores
| Year | Return on Investment |
|---|---|
| 1 years | $-9,924 |
| 3 years | $-7,151 |
| 5 years | $-4,377 |
| 7 years | $-1,604 |
| 9 years | $1,169 |
| 11 years | $3,942 |
| 13 years | $6,715 |
| 15 years | $9,488 |
| 17 years | $12,262 |
| 19 years | $15,035 |
| 21 years | $17,808 |
| 23 years | $20,581 |
| 25 years | $23,354 |
Top Solar Installers in Norton Shores
Many homeowners opt for a solar installer since trying to install solar panels yourself can be a lot of work. Another advantage of working with a solar installer is that they can help you optimize your ROI by lowering your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
There are a number of licensed solar professionals that can install solar panels for you. 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 Norton Shores
Factors that Affect Solar Panel Costs in Norton Shores
For many Norton Shores homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Norton Shores, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are many different solar panel brands and the one you choose also affects the cost. In general, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are offered by most installers in Norton Shores, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. Although solar loans make going solar more accessible for Norton Shores homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Norton Shores are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $23,882 | 8.5 years |
| 8 kW | $2.87 | $16,051 | $32,157 | 8.3 years |
| 10 kW | $2.81 | $19,670 | $40,590 | 8.2 years |
| 12 kW | $2.75 | $23,132 | $49,180 | 8.0 years |
| 14 kW | $2.70 | $26,436 | $57,927 | 7.8 years |
| 16 kW | $2.64 | $29,584 | $66,832 | 7.7 years |
| 18 kW | $2.59 | $32,574 | $75,894 | 7.5 years |
| 20 kW | $2.53 | $35,406 | $85,113 | 7.3 years |
How to Save on Solar Panels
There are many companies available in Norton Shores, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: Different companies will carry different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
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 Norton Shores, MI Solar Cost FAQs
How much does it cost to install solar panels in Norton Shores?
The average cost of solar panels in Norton Shores is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Norton Shores?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside 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.
Do solar panels increase your property value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don't opt for 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 a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.