Solar Panel Cost Guide in Oxford, MI (2024 Update)
- Oxford Solar Installation Cost: $17,556
- 25-Year Savings: $14,101
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Oxford
Find out what the average cost of solar panel installation is in Oxford.
In Oxford, solar panels cost about 4 per watt on average.To account for the typical energy needs of the average home in Oxford, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,556, or $25,105 before the federal solar tax credit of 0 is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar system you want, your solar contractor and more.Many homeowners find going solar is a sound investment. The average homeowner in Oxford can save around $16,000 on their electricity bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Oxford
| Year | Return on Investment |
|---|---|
| 1 years | $-16,198 |
| 3 years | $-13,483 |
| 5 years | $-10,767 |
| 7 years | $-8,052 |
| 9 years | $-5,337 |
| 11 years | $-2,621 |
| 13 years | $94 |
| 15 years | $2,809 |
| 17 years | $5,525 |
| 19 years | $8,240 |
| 21 years | $10,955 |
| 23 years | $13,671 |
| 25 years | $16,386 |
Top Solar Installers in Oxford
Trying to put up solar panels on your own can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some in Oxford:
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 Oxford
Factors that Affect Solar Panel Costs in Oxford
The cost of installing a solar system in Oxford 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 equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it’s a priority to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.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. On the other hand, more efficient panels could save you more over time on your energy bills. In addition, add-on products, such as 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 bring down, or in some cases eliminate, your upfront costs to make solar more affordable.Although solar loans make going solar more accessible for Oxford homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can play a part in your total costs. There are about 3 solar panel companies operating in Oxford, and each can charge different amounts for labor and equipment.Additionally, some companies in Oxford have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $7,764 | 17.4 years |
| 8 kW | $4.14 | $23,191 | $10,807 | 17.1 years |
| 10 kW | $4.06 | $28,420 | $14,077 | 16.7 years |
| 12 kW | $3.98 | $33,422 | $17,574 | 16.4 years |
| 14 kW | $3.90 | $38,196 | $21,299 | 16.1 years |
| 16 kW | $3.82 | $42,744 | $25,251 | 15.7 years |
| 18 kW | $3.74 | $47,064 | $29,431 | 15.4 years |
| 20 kW | $3.65 | $51,156 | $33,838 | 15.0 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: If you’re concerned about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- 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.
- Contract: It’s important to read your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Oxford, MI Solar Cost FAQs
What is the average cost of installing solar panels in Oxford?
This is a hard question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Oxford?
Most states offer 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 energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.