Solar Panel Cost Guide in Paradise, MI (2024 Update)
- Paradise Solar Installation Cost: $17,958
- 25-Year Savings: $19,670
- Payback Period: 14.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Paradise
Let’s have a look at the average cost of solar in Paradise.
The average cost of solar panels in Paradise is 4 per watt.Since a 6.3-kW system is needed to cover the energy usage of a typical home in Paradise, the average price of going solar will be about $17,958 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more.Many homeowners find installing a solar panel system is a fruitful investment. The average homeowner in Paradise can save about $19,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Paradise
| Year | Return on Investment |
|---|---|
| 1 years | $-16,704 |
| 3 years | $-14,197 |
| 5 years | $-11,689 |
| 7 years | $-9,182 |
| 9 years | $-6,675 |
| 11 years | $-4,167 |
| 13 years | $-1,660 |
| 15 years | $848 |
| 17 years | $3,355 |
| 19 years | $5,862 |
| 21 years | $8,370 |
| 23 years | $10,877 |
| 25 years | $13,385 |
Top Solar Installers in Paradise
Installing solar panels on your own can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. Another advantage of utilizing a solar installer is that they can help you maximize your return of investment by reducing your future costs of repairs and replacements because of warranties and informing you of local incentives you can take advantage of.
If you're searching for a solar installer in Paradise, the EcoWatch team has organized a list of our top suggestions here:
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 Paradise
Factors that Affect Solar Panel Costs in Paradise
For many Paradise homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Paradise, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The type of solar panels and equipment you get is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable choice because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 securing a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The remaining significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of green energy solutions in Paradise, you’ll have plenty of options to choose from, but each comes at varying price points for labor and equipment.You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $12,745 | 14.5 years |
| 8 kW | $4.14 | $23,191 | $17,448 | 14.3 years |
| 10 kW | $4.06 | $28,420 | $22,379 | 14.0 years |
| 12 kW | $3.98 | $33,422 | $27,537 | 13.7 years |
| 14 kW | $3.90 | $38,196 | $32,922 | 13.4 years |
| 16 kW | $3.82 | $42,744 | $38,534 | 13.1 years |
| 18 kW | $3.74 | $47,064 | $44,374 | 12.9 years |
| 20 kW | $3.65 | $51,156 | $50,442 | 12.6 years |
How to Save on Solar Panels
The solar panel company you go with will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should keep in mind, such as:
- Contract: When reading through your solar installer’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Paradise, MI Solar Cost FAQs
What is the average cost of installing solar panels in Paradise?
The average cost of solar panels in Paradise 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 model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Paradise?
You can’t get solar panels for free in Paradise. 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 want to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Paradise, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Paradise?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.