Solar Panel Cost Guide in Oceola, MI (2023 Update)
- Oceola Solar Installation Cost: $12,176
- 25-Year Savings: $16,339
- Payback Period: 10.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oceola
Find out how much it might cost to install solar panels in Oceola.
In Oceola, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.2-kW system would cost about $12,176 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Oceola homeowner. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. Despite the large upfront cost, the average Oceola homeowner can save about $18,000 on their energy bills over 20 years, which is one of the positives of solar.
You can click the button below to get connected with a vetted solar company in Oceola that can help you get a more accurate cost estimate for your home.
Solar savings over time in Oceola
| Year | Return on Investment |
|---|---|
| 1 years | $-11,035 |
| 3 years | $-8,754 |
| 5 years | $-6,473 |
| 7 years | $-4,192 |
| 9 years | $-1,910 |
| 11 years | $371 |
| 13 years | $2,652 |
| 15 years | $4,933 |
| 17 years | $7,214 |
| 19 years | $9,495 |
| 21 years | $11,777 |
| 23 years | $14,058 |
| 25 years | $16,339 |
Top Solar Installers in Oceola
Putting up solar panels by yourself can be a time-consuming project, which is why getting a solar installer is a good option for many homeowners. A solar installer can also help save you money over time by providing warranties, repairs and system component replacements.
There are several licensed solar professionals that can take care of your solar installation project. 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 Oceola
Factors that Affect Solar Panel Costs in Oceola
While the average cost of a solar system in Oceola is $12,176, your actual cost may be above or below the average. There are quite a few factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
Solar 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 crucial to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use. 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, including the amount of 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 more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Oceola, you'll have lots of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $15,381 | 11.1 years |
| 8 kW | $2.87 | $16,051 | $20,823 | 10.9 years |
| 10 kW | $2.81 | $19,670 | $26,422 | 10.7 years |
| 12 kW | $2.75 | $23,132 | $32,179 | 10.5 years |
| 14 kW | $2.70 | $26,436 | $38,092 | 10.2 years |
| 16 kW | $2.64 | $29,584 | $44,164 | 10.0 years |
| 18 kW | $2.59 | $32,574 | $50,392 | 9.8 years |
| 20 kW | $2.53 | $35,406 | $56,778 | 9.6 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Reputation: Companies that have been in business for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Installation Process: When making the switch to solar, it's important to maintain an open line of communication with your solar installer. See to it that you understand how the installation process works and the project timeline.
- Solar Panel Brands: Different companies offer various brands and types of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project 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
EcoWatch's Oceola, MI Solar Cost FAQs
What is the average cost of installing solar panels in Oceola?
The average cost of solar panels in Oceola 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on your goals for going solar. In areas 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 it worth going solar in Oceola?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels 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 typically 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.