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.
While the national average of solar panels is $2.66 per watt, solar panels in Otsego typically cost about 4.Because a 5.9-kW system is needed to cover the energy consumption of a typical home in Otsego, the average price of going solar will be about $16,895 after claiming the federal solar tax credit of 0.
These figures are just averages, and the cost of going solar for you will look different based on the amount of energy your home requires and what company you go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Otsego can save around $22,000 on their energy bills over 20 years.
To get a free estimate from a top solar 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
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can use up a lot of your time and energy. Using an installer can make swapping over to solar power much easier. Plus, if you’re unsure what type of solar panels and equipment you need, a solar installer can help you figure that out after a site survey and consultation.
If you’d like to switch to solar energy but still aren’t certain which solar company to go with, here are our recommendations for providers near you:
See all of the solar companies in Otsego
Factors that Affect Solar Panel Costs in Otsego
For many Otsego homeowners, the decision to install a solar energy system 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 a few factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require 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 $4,060.There are a lot of different solar panel brands and the one you pick also affects the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are available from most installers in Otsego, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your all-in costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The last significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of green energy solutions in Otsego, you’ll have plenty of options to choose from, but each comes at various price points for labor and equipment.Additionally, some companies in Otsego are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two 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 good reviews from previous customers.
EcoWatch's Otsego, MI Solar Cost FAQs
What is the average cost of installing solar panels in Otsego?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Broadly 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 other 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 less efficient solar panels.
Are solar panels free in Otsego?
Solar panels aren’t free in Otsego, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Does Otsego have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid 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 often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.