Solar Panel Cost Guide in Overisel, MI (2023 Update)
- Overisel Solar Installation Cost: $11,693
- 25-Year Savings: $20,601
- Payback Period: 9.1 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Overisel
Let's have a look at the average cost of solar panels in Overisel.
The average cost of solar panels in Overisel is 2.81 per watt. Using this figure, a typical 5.9-kW system would cost about $11,684 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Overisel depending on several factors, such as the type of solar panels you choose and the solar installer you hire. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on energy bills.
You can click the button below to get connected with a pre-vetted solar company in Overisel that can help you get a more accurate cost estimate for your home.
Solar savings over time in Overisel
| Year | Return on Investment |
|---|---|
| 1 years | $-11,585 |
| 3 years | $-11,370 |
| 5 years | $-11,155 |
| 7 years | $-10,939 |
| 9 years | $-10,724 |
| 11 years | $-10,509 |
| 13 years | $-10,294 |
| 15 years | $-10,078 |
| 17 years | $-9,863 |
| 19 years | $-9,648 |
| 21 years | $-9,432 |
| 23 years | $-9,217 |
| 25 years | $-9,002 |
Top Solar Installers in Overisel
When making the switch to solar, many homeowners choose to use a solar installation company since installing solar panels yourself can be a time-consuming project. A solar installer can also help save you money over the lifespan of your system by offering warranties, repairs and part replacements.
You can get a free estimate from a local solar installer on how much your investment in solar could cost for your home. Here are some 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 Overisel
Factors that Affect Solar Panel Costs in Overisel
Although the average cost of a solar system in Overisel is $11,684, your actual cost may be higher or lower than that. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Overisel. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you go with to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Overisel, and each can charge varying amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It's best to do some research and decide on the company that offers 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 | $20,321 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,410 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,655 | 9.1 years |
| 12 kW | $2.75 | $23,132 | $42,059 | 8.9 years |
| 14 kW | $2.70 | $26,436 | $49,619 | 8.7 years |
| 16 kW | $2.64 | $29,584 | $57,337 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,212 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,245 | 8.1 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:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: If you care about the durability of your solar panels, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability 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.
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 Overisel, MI Solar Cost FAQs
How much does it cost to install solar panels in Overisel?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to consider when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How much can I save on energy bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Overisel, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out 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.