Solar Panel Cost Guide in Oceola, MI (2024 Update)
- Oceola Solar Installation Cost: $17,582
- 25-Year Savings: $16,346
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Oceola
Find out what the average cost of a solar system is in Oceola.
The national average cost of solar panels is $2.66 per watt, but in Oceola it’s 4 per watt.Using this figure, a typical 6.2-kW system would cost about $17,582 before the 0 federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Oceola depending on a few factors, such as the model of solar panels you choose and the solar installer you hire.Despite the large upfront cost, the average Oceola homeowner can save about $18,000 on their power bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Oceola
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Oceola
Trying to install solar panels on your own can be a time-consuming task, which is why getting a solar installation company is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar, using a solar company can help with that too. Different providers can offer repairs, expertise on solar panel installation and sometimes even information on local incentives and net metering programs.
If you're looking for a solar installer in Oceola, we've compiled a list of our top suggestions here:
See all of the solar companies in Oceola
Factors that Affect Solar Panel Costs in Oceola
Even though the average cost of a solar system in Oceola is $17,582, your final cost may be above or below the average. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Oceola, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, 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
Most solar companies in Oceola offer solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your all-in costs, so it’s vital to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The last key cost factor you should keep in mind is the installer you choose. Given the growing popularity of green energy solutions in Oceola, you’ll have plenty of options to choose from, but each comes at different price points for labor and equipment.Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and find a company that provides the products, warranties and services you want and also fits within your budget.
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 | $9,921 | 16.0 years |
| 8 kW | $4.14 | $23,191 | $13,683 | 15.7 years |
| 10 kW | $4.06 | $28,420 | $17,672 | 15.4 years |
| 12 kW | $3.98 | $33,422 | $21,889 | 15.1 years |
| 14 kW | $3.90 | $38,196 | $26,332 | 14.8 years |
| 16 kW | $3.82 | $42,744 | $31,004 | 14.5 years |
| 18 kW | $3.74 | $47,064 | $35,902 | 14.2 years |
| 20 kW | $3.65 | $51,156 | $41,028 | 13.9 years |
How to Save on Solar Panels
There are a large number of companies available in Oceola, 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:
- Contract: It’s important to read through your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before making your decision.
- Reputation: Make sure your solar panel installer 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 EcoWatch.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
EcoWatch's Oceola, MI Solar Cost FAQs
How much does it cost to install solar panels in Oceola?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
How will installing solar panels impact the value of my home?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t go 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."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of 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 install between 20 and 35 panels to cover 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.