Solar Panel Cost Guide in Okemos, MI (2023 Update)
- Okemos Solar Installation Cost: $12,136
- 25-Year Savings: $17,788
- Payback Period: 10.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Okemos
Let's have a look at the average cost of solar panels in Okemos.
In Okemos, solar panels cost about 2.81 per watt on average. The average Okemos homeowner needs a 6.2-kilowatt system, which would cost about $12,136 with the federal tax credit, or $17,354 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary quite a bit 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 investment in solar panels is worth paying. On average you could be looking at about $18,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar company in Okemos for a custom quote.
Solar savings over time in Okemos
| Year | Return on Investment |
|---|---|
| 1 years | $-10,939 |
| 3 years | $-8,545 |
| 5 years | $-6,152 |
| 7 years | $-3,758 |
| 9 years | $-1,364 |
| 11 years | $1,030 |
| 13 years | $3,424 |
| 15 years | $5,818 |
| 17 years | $8,212 |
| 19 years | $10,606 |
| 21 years | $13,000 |
| 23 years | $15,394 |
| 25 years | $17,788 |
Top Solar Installers in Okemos
Although you can install solar panels on your own, it involves extra time and expertise. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you aren't sure what brand of solar panels and equipment you may need, a solar installer can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some in Okemos:
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 Okemos
Factors that Affect Solar Panel Costs in Okemos
The cost of installing a solar system in Okemos can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Okemos. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Okemos average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Okemos homeowners opt to finance their solar panel systems to make going solar more affordable. However, the interest on solar loans also adds to your total costs, so it's crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you choose to install your solar system can affect your pricing. Okemos' solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and go with the company that has the products, warranties and services you're looking for 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 | $2.92 | $12,274 | $16,813 | 10.5 years |
| 8 kW | $2.87 | $16,051 | $22,732 | 10.3 years |
| 10 kW | $2.81 | $19,670 | $28,808 | 10.1 years |
| 12 kW | $2.75 | $23,132 | $35,042 | 9.9 years |
| 14 kW | $2.70 | $26,436 | $41,433 | 9.7 years |
| 16 kW | $2.64 | $29,584 | $47,982 | 9.5 years |
| 18 kW | $2.59 | $32,574 | $54,688 | 9.3 years |
| 20 kW | $2.53 | $35,406 | $61,551 | 9.1 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
- 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.
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 Okemos, MI Solar Cost FAQs
What is the average cost of installing solar panels in Okemos?
The average cost of solar panels in Okemos is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Okemos?
You can't get solar panels for free in Okemos. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels completely eradicate my power bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Okemos, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.