Solar Panel Cost Guide in Owosso, MI (2024 Update)
- Owosso Solar Installation Cost: $17,642
- 25-Year Savings: $23,094
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Owosso
Let’s have a look at the average cost of solar in Owosso.
The average cost of a solar panel system in Owosso is 4 per watt.To cover the typical energy usage of the average home in Owosso, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs about $17,642, or $25,228 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Owosso homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Owosso
| Year | Return on Investment |
|---|---|
| 1 years | $-16,388 |
| 3 years | $-13,880 |
| 5 years | $-11,373 |
| 7 years | $-8,866 |
| 9 years | $-6,358 |
| 11 years | $-3,851 |
| 13 years | $-1,343 |
| 15 years | $1,164 |
| 17 years | $3,671 |
| 19 years | $6,179 |
| 21 years | $8,686 |
| 23 years | $11,193 |
| 25 years | $13,701 |
Top Solar Installers in Owosso
Many homeowners choose to hire a solar panel company since trying to install solar panels on your own can be time-consuming. Plus, if you aren’t sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
If you're searching for a solar company in Owosso, the EcoWatch team has organized a list of our top suggestions here:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Owosso
Factors that Affect Solar Panel Costs in Owosso
The cost of installing a solar system in Owosso can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Owosso, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are offered by most installers in Owosso, which can lower, or in some cases eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar panel installation company you pick will play a role in your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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 | $4.22 | $17,734 | $16,390 | 13.0 years |
| 8 kW | $4.14 | $23,191 | $22,308 | 12.7 years |
| 10 kW | $4.06 | $28,420 | $28,454 | 12.5 years |
| 12 kW | $3.98 | $33,422 | $34,827 | 12.2 years |
| 14 kW | $3.90 | $38,196 | $41,427 | 12.0 years |
| 16 kW | $3.82 | $42,744 | $48,255 | 11.7 years |
| 18 kW | $3.74 | $47,064 | $55,309 | 11.5 years |
| 20 kW | $3.65 | $51,156 | $62,592 | 11.2 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose significantly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Before signing a contract with a solar company, be sure to look it over completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: The model of solar panel you need plays a part in which company you should go with, since different companies have access to different panels.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Owosso, MI Solar Cost FAQs
What is the average cost of installing solar panels in Owosso?
The average cost of solar panels in Owosso 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 like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Owosso?
You can’t get solar panels for free in Owosso. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after installing solar panels?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,137.48 per year.
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 should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can decide to 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.