Solar Panel Cost Guide in Oshtemo, MI (2023 Update)
- Oshtemo Solar Installation Cost: $11,979
- 25-Year Savings: $21,637
- Payback Period: 8.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oshtemo
Find out what the average cost of solar panels are in Oshtemo.
The average cost of a solar system in Oshtemo is 2.81 per watt. The average solar panel system size in Oshtemo is around 6.1 kilowatts, meaning a cost of about $11,979 for a solar installation, or $17,130 before the 30% federal solar tax credit is applied.
The true cost of your system can go above or below the average in Oshtemo depending on a few factors, such as the model of solar panels you choose and the solar company you hire. But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $21,000 over 20 years on electricity bills.
You can click the button below to get connected with a top solar company in Oshtemo for a quote for your home.
Solar savings over time in Oshtemo
| Year | Return on Investment |
|---|---|
| 1 years | $-10,634 |
| 3 years | $-7,945 |
| 5 years | $-5,256 |
| 7 years | $-2,566 |
| 9 years | $123 |
| 11 years | $2,812 |
| 13 years | $5,501 |
| 15 years | $8,191 |
| 17 years | $10,880 |
| 19 years | $13,569 |
| 21 years | $16,259 |
| 23 years | $18,948 |
| 25 years | $21,637 |
Top Solar Installers in Oshtemo
Although it's possible to install solar panels yourself, it requires extra effort and know-how. Because of that, most homeowners choose to hire a solar panel installer. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers near you:
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 Oshtemo
Factors that Affect Solar Panel Costs in Oshtemo
For many Oshtemo homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Oshtemo, with typical prices between $20,000 to $40,000. There are a few factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. That's why it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your energy needs. 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 opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Oshtemo average.
Solar Financing Terms
Most solar companies in Oshtemo have solar loans, which reduce your upfront costs of installing a solar system. Even though solar loans make going solar more accessible for Oshtemo homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a role in your total costs. There are about 3 solar panel companies operating in Oshtemo, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials 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 | $20,825 | 9.3 years |
| 8 kW | $2.87 | $16,051 | $28,081 | 9.1 years |
| 10 kW | $2.81 | $19,670 | $35,495 | 8.9 years |
| 12 kW | $2.75 | $23,132 | $43,066 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $50,795 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $58,681 | 8.4 years |
| 18 kW | $2.59 | $32,574 | $66,724 | 8.2 years |
| 20 kW | $2.53 | $35,406 | $74,925 | 8.0 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Before signing a contract with a solar company, be 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 to do if a part breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Oshtemo, MI Solar Cost FAQs
How much does it cost to install solar panels in Oshtemo?
This is a difficult question to answer exactly, because the cost depends on many factors. Broadly 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper 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 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 consider are the quality and durability of your solar panels.
Does Oshtemo have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy 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?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.