Solar Panel Cost Guide in Oakfield, MI (2024 Update)
- Oakfield Solar Installation Cost: $17,551
- 25-Year Savings: $21,871
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Oakfield
We break down average solar pricing in Oakfield.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Oakfield, the typical cost of a solar system is 4 per watt.The average solar panel system size in Oakfield is around 6.2 kilowatts, meaning a cost of about $17,551 for a solar installation, or $25,098 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with.For most homeowners, the upfront cost of solar is worth paying. On average Oakfield homeowners see about $21,000 in savings on energy bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Oakfield
| Year | Return on Investment |
|---|---|
| 1 years | $-16,297 |
| 3 years | $-13,790 |
| 5 years | $-11,282 |
| 7 years | $-8,775 |
| 9 years | $-6,268 |
| 11 years | $-3,760 |
| 13 years | $-1,253 |
| 15 years | $1,255 |
| 17 years | $3,762 |
| 19 years | $6,269 |
| 21 years | $8,777 |
| 23 years | $11,284 |
| 25 years | $13,792 |
Top Solar Installers in Oakfield
Installing solar panels on your own can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also provide access to quality options of the best solar panels and help you pick which one will be right for you.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
See all of the solar companies in Oakfield
Factors that Affect Solar Panel Costs in Oakfield
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few major factors that determine your overall cost in Oakfield: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Oakfield, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, 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
If paying for a solar system in cash is too expensive, solar loans are a solid route because they reduce your upfront costs and allow you to 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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar installer you choose will impact your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $15,317 | 13.4 years |
| 8 kW | $4.14 | $23,191 | $20,877 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,665 | 12.9 years |
| 12 kW | $3.98 | $33,422 | $32,680 | 12.6 years |
| 14 kW | $3.90 | $38,196 | $38,922 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $45,392 | 12.1 years |
| 18 kW | $3.74 | $47,064 | $52,089 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $59,014 | 11.6 years |
How to Save on Solar Panels
There are numerous companies available in Oakfield, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Warranty: If you’re worried about the endurance of your solar system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you’re considering has it.
EcoWatch's Oakfield, MI Solar Cost FAQs
How much does it cost to install solar panels in Oakfield?
This is a tough question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Oakfield?
You can’t get solar panels for free in Oakfield. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Oakfield?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Oakfield?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.