Solar Panel Cost Guide in Otsego, MI (2024 Update)
- Otsego Solar Installation Cost: $16,895
- 25-Year Savings: $22,811
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Otsego
We go over average solar pricing in Otsego.
Although the national average of solar panels is $2.66 per watt, solar panels in Otsego generally cost about 4.The average solar panel system size in Otsego is around 5.9 kilowatts, meaning a cost of about $16,895 for a solar installation, or $24,160 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Otsego homeowners. 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.Even with the large initial cost, the average Otsego homeowner can save around $22,000 on their power bills over 20 years, which is one of the perks of solar.
To receive a free estimate from a vetted solar installation company in Otsego, you can click the button below.
Solar savings over time in Otsego
| Year | Return on Investment |
|---|---|
| 1 years | $-15,641 |
| 3 years | $-13,133 |
| 5 years | $-10,626 |
| 7 years | $-8,119 |
| 9 years | $-5,611 |
| 11 years | $-3,104 |
| 13 years | $-596 |
| 15 years | $1,911 |
| 17 years | $4,418 |
| 19 years | $6,926 |
| 21 years | $9,433 |
| 23 years | $11,940 |
| 25 years | $14,448 |
Top Solar Installers in Otsego
Although it's possible to install solar panels by yourself, it requires extra effort and expertise. That's one of the reasons the majority of homeowners choose a solar panel installer. Plus, if you aren’t sure what type of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
If you're looking for a solar installer in Otsego, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Otsego
Factors that Affect Solar Panel Costs in Otsego
For many Otsego homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Otsego, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Otsego, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking into a solar system that’s in your budget.
Solar Financing Terms
Many homeowners find the average cost of solar in Otsego to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar installer in the area provides financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.When estimating your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar system can play a role in determining your pricing. Otsego’s solar companies all have different labor costs and add varying upcharges to equipment. You may see national solar installers that have lower prices due to 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 major players.
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 | $17,092 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,244 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,623 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,230 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,064 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $50,125 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,414 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,930 | 11.0 years |
How to Save on Solar Panels
There are many companies to choose from in Otsego, 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:
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Solar Panel Brands: Different companies carry various brands and kinds of panels. If you prefer a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like EcoWatch.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Otsego, MI Solar Cost FAQs
How much does it cost to install solar panels in Otsego?
The average cost of solar panels in Otsego is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Otsego?
You can’t get solar panels for free in Otsego. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Otsego?
Most states have net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Otsego?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can choose 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.