Solar Panel Cost Guide in Oakfield, MI (2023 Update)
- Oakfield Solar Installation Cost: $12,156
- 25-Year Savings: $21,862
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oakfield
Here's how much it might cost to go solar in Oakfield.
The average cost of a solar panel system in Oakfield is 2.81 per watt. Because a 6.2-kW system is needed to cover the energy costs of a typical home in Oakfield, the average price of going solar will be about $12,156 after claiming the federal solar tax credit of 30%.
These figures are just averages, and how much solar costs for you will differ based on the amount of energy your home requires and what company you choose to go with. Many homeowners find installing a solar system is a sound investment. The average homeowner in Oakfield can save around $21,000 on their power bills over 20 years.
You can click the button below to get connected with a top solar company in Oakfield for a quote for your home.
Solar savings over time in Oakfield
| Year | Return on Investment |
|---|---|
| 1 years | $-10,795 |
| 3 years | $-8,074 |
| 5 years | $-5,352 |
| 7 years | $-2,631 |
| 9 years | $90 |
| 11 years | $2,812 |
| 13 years | $5,533 |
| 15 years | $8,255 |
| 17 years | $10,976 |
| 19 years | $13,698 |
| 21 years | $16,419 |
| 23 years | $19,140 |
| 25 years | $21,862 |
Top Solar Installers in Oakfield
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make swapping over to solar power much easier. Also, if you'd like to maximize your investment in solar power, opting for a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives.
If you'd like to make the switch to solar but still aren't sure which solar company to go with, here are our recommendations for providers nearby:
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 Oakfield
Factors that Affect Solar Panel Costs in Oakfield
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that will push your cost above or below the average in Oakfield: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it's a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Oakfield average.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That's why many Oakfield homeowners choose to finance their solar panel systems to make going solar more affordable. It's a good idea to add the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Oakfield, you'll have plenty of options to choose from, but each comes at various 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 equipment 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 | $20,777 | 9.3 years |
| 8 kW | $2.87 | $16,051 | $28,017 | 9.1 years |
| 10 kW | $2.81 | $19,670 | $35,415 | 8.9 years |
| 12 kW | $2.75 | $23,132 | $42,970 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $50,682 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $58,552 | 8.4 years |
| 18 kW | $2.59 | $32,574 | $66,579 | 8.2 years |
| 20 kW | $2.53 | $35,406 | $74,764 | 8.0 years |
How to Save on Solar Panels
The solar installer you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, including:
- Contract: Before you sign a contract with a solar installer, make sure to read it through completely so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases offer good-quality solar panel installation and expertise.
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 Oakfield, MI Solar Cost FAQs
What is the average cost of installing solar panels in Oakfield?
The average cost of solar panels in Oakfield 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 things 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 Oakfield?
Leasing solar panels can be an option if you can't 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 savings from going solar.
Does Oakfield have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily 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 buy 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.