Solar Panel Cost Guide in Oxford, MI (2025 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.
The national average cost of solar panels is $2.66 per watt, but in Oxford it’s 4 per watt.The average solar panel system size in Oxford is around 6.2 kilowatts, meaning a cost of about $17,556 for a solar installation, or $25,105 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Oxford based 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 ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on utility bills.
To receive a free estimate from a top solar installation company in Oxford, you can 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
When switching to solar energy, many homeowners decide to hire a solar installation company since installing a solar system yourself can be a challenging project. Another good thing about using a reputable solar installer is that it'll provide warranties and free repairs, which help protect your solar system over time.
If you're looking for a solar company in Oxford, we've compiled a list of our top suggestions here:
See all of the solar companies in Oxford
Factors that Affect Solar Panel Costs in Oxford
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that will push your cost above or below the average in Oxford: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. Because of that, it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Oxford, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Oxford offer solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies in Oxford, and each can charge varying amounts for labor and equipment.Additionally, some companies in Oxford are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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.
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 $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 stuff such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Oxford have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either receive compensation for the extra power your system generates 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.
How many solar panels do I need to power 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.