Solar Panel Cost Guide in Oxford, MI (2023 Update)
- Oxford Solar Installation Cost: $12,156
- 25-Year Savings: $14,095
- Payback Period: 11.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Oxford
Let's take a look at the average cost of solar in Oxford.
Although the national average of solar panels is $2.66 per watt, solar panels in Oxford generally cost about 2.81. Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of installing solar panels can vary quite a bit based on several factors, such as what size system you need, your energy usage and what solar installer you go with. With typical savings of about $16,000 on electricity bills over 20 years, many homeowners in Oxford find going solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in Oxford for a personalized estimate.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-11,106 |
| 3 years | $-9,006 |
| 5 years | $-6,906 |
| 7 years | $-4,806 |
| 9 years | $-2,706 |
| 11 years | $-605 |
| 13 years | $1,495 |
| 15 years | $3,595 |
| 17 years | $5,695 |
| 19 years | $7,795 |
| 21 years | $9,895 |
| 23 years | $11,995 |
| 25 years | $14,095 |
Top Solar Installers in Oxford
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. Taking advantage of an installer can make your switch to solar power much easier. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what brand of solar equipment you need.
If you're on the hunt for a solar installer in Oxford, we've compiled 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
See all of the solar companies in Oxford
Factors that Affect Solar Panel Costs in Oxford
There are many criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The cost of solar panel systems 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 better efficiency or power production use 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 $2,810. The type 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 in the long run on your energy bills. In addition, extra products, like solar batteries, can bring your total well above the Oxford average.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be financially overwhelming. Solar loans are provided by most installers in Oxford, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a part in determining the cost. Oxford's solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $13,224 | 12.0 years |
| 8 kW | $2.87 | $16,051 | $17,947 | 11.8 years |
| 10 kW | $2.81 | $19,670 | $22,827 | 11.6 years |
| 12 kW | $2.75 | $23,132 | $27,864 | 11.3 years |
| 14 kW | $2.70 | $26,436 | $33,059 | 11.1 years |
| 16 kW | $2.64 | $29,584 | $38,411 | 10.9 years |
| 18 kW | $2.59 | $32,574 | $43,921 | 10.6 years |
| 20 kW | $2.53 | $35,406 | $49,588 | 10.4 years |
How to Save on Solar Panels
The solar panel company you choose will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should consider, including:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: When looking over your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or the company going out of business.
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 Oxford, MI Solar Cost FAQs
What is the average cost of installing solar panels in Oxford?
The average cost of solar panels in Oxford is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Oxford?
You can't get solar panels for free in Oxford. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners throughout Oxford, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.