Solar Panel Cost Guide in Oneida, MI (2023 Update)
- Oneida Solar Installation Cost: $12,136
- 25-Year Savings: $21,552
- Payback Period: 9.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oneida
Let's have a look at the average cost of solar panels in Oneida.
In Oneida, solar panels cost about 2.81 per watt on average. To cover the typical energy usage of the average home in Oneida, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $12,136, or $17,354 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and your own solar costs will look different based on the amount of energy your home requires and what company you go with. Despite the large upfront cost, the average Oneida homeowner can save about $21,000 on their electricity bills over 20 years, which is one of the benefits of solar.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Oneida
| Year | Return on Investment |
|---|---|
| 1 years | $-10,789 |
| 3 years | $-8,094 |
| 5 years | $-5,399 |
| 7 years | $-2,704 |
| 9 years | $-9 |
| 11 years | $2,687 |
| 13 years | $5,382 |
| 15 years | $8,077 |
| 17 years | $10,772 |
| 19 years | $13,467 |
| 21 years | $16,162 |
| 23 years | $18,857 |
| 25 years | $21,552 |
Top Solar Installers in Oneida
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of a solar company can make switching to solar power much easier. Plus, if you'd like to maximize your investment in solar power, going with a solar installer can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives and net metering programs.
Working with a vetted solar company can make going solar easier. Here are our recommendations:
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 Oneida
Factors that Affect Solar Panel Costs in Oneida
The cost of installing a solar system in Oneida can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Oneida, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Oneida provide solar loans, which reduce your upfront costs of installing a solar system. Though solar loans make adopting solar energy more accessible for Oneida homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Oneida, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric car 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 | $20,477 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,618 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,916 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,371 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $49,983 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $57,753 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,681 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,765 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Not all solar companies 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 opt for.
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 Oneida, MI Solar Cost FAQs
What is the average cost of installing solar panels in Oneida?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Oneida?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of 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 financial benefits from going solar.
How will solar panels impact my home value?
Solar panels can increase your home value remarkably as long as you buy or finance your panels and don't opt 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 solar panels."
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can continue to use 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.