Solar Panel Cost Guide in Paw Paw, MI (2024 Update)
- Paw Paw Solar Installation Cost: $16,493
- 25-Year Savings: $20,327
- Payback Period: 13.0 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 Paw Paw
We break down average solar pricing in Paw Paw.
In Paw Paw, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Paw Paw, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,493, or $23,585 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Paw Paw homeowners. The cost 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.Even with the high initial cost, the average Paw Paw homeowner can save around $21,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a vetted solar company in Paw Paw for a quote for your home.
Solar savings over time in Paw Paw
| Year | Return on Investment |
|---|---|
| 1 years | $-15,239 |
| 3 years | $-12,732 |
| 5 years | $-10,225 |
| 7 years | $-7,717 |
| 9 years | $-5,210 |
| 11 years | $-2,702 |
| 13 years | $-195 |
| 15 years | $2,312 |
| 17 years | $4,820 |
| 19 years | $7,327 |
| 21 years | $9,835 |
| 23 years | $12,342 |
| 25 years | $14,849 |
Top Solar Installers in Paw Paw
DIY 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. Using an installer can make your switch to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you’d like to switch to solar energy but still aren’t certain which solar panel installer to go with, here are our suggestions for providers nearby:
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 Paw Paw
Factors that Affect Solar Panel Costs in Paw Paw
Although the average cost of a solar system in Paw Paw is $16,493, your actual cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to consider.
Solar Equipment
The size of the solar energy 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 solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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, higher efficiency could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bring your total well above the Paw Paw average.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Paw Paw homeowners decide to finance their solar panel systems to offset upfront costs.Though solar loans make adopting solar energy more accessible for Paw Paw homeowners, they can also increase the total you pay for your system, depending on your interest rate. 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 last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of sustainable energy solutions in Paw Paw, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk equipment 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 | $15,083 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,566 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,276 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,213 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,377 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,769 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,389 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $58,235 | 11.7 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total 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 take into account, including:
- Installation Process: When making the switch to solar energy, it’s necessary to keep an open line of communication with your solar company. Make sure you understand how the installation process works and the completion timeline.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Solar Panel Brands: The kind of solar panel you need to install plays a part in which company you should choose, since different companies offer different panels.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
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 Paw Paw, MI Solar Cost FAQs
What is the average cost of installing solar panels in Paw Paw?
The average cost of solar panels in Paw Paw 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 like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Paw Paw?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,093.91 per year.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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.