Solar Panel Cost Guide in Paw Paw Lake, MI (2023 Update)
- Paw Paw Lake Solar Installation Cost: $11,645
- 25-Year Savings: $19,385
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Paw Paw Lake
Let's take a look at the average cost of solar in Paw Paw Lake.
The national average cost of solar panels is $2.66 per watt, but in Paw Paw Lake it's 2.81 per watt. Using this figure, a typical 5.9-kW system would cost about $11,645 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Paw Paw Lake depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire. With typical savings of about $20,000 on electricity bills over 20 years, many homeowners in Paw Paw Lake find investing in solar can be quite rewarding.
You can click the button below to get connected with a vetted solar installer in Paw Paw Lake for a quote for your home.
Solar savings over time in Paw Paw Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-10,403 |
| 3 years | $-7,921 |
| 5 years | $-5,439 |
| 7 years | $-2,956 |
| 9 years | $-474 |
| 11 years | $2,008 |
| 13 years | $4,491 |
| 15 years | $6,973 |
| 17 years | $9,455 |
| 19 years | $11,938 |
| 21 years | $14,420 |
| 23 years | $16,902 |
| 25 years | $19,385 |
Top Solar Installers in Paw Paw Lake
Although you can install solar panels on your own, it involves extra time and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Plus, if you aren't sure what type of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Paw Paw Lake:
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 Paw Paw Lake
Factors that Affect Solar Panel Costs in Paw Paw Lake
Even though the average cost of a solar system in Paw Paw Lake is $11,645, your final cost may differ. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. The kind of 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, more efficient panels could save you more in the long run on your energy bills. Additionally, extra products, like solar batteries, can bring your total well above the Paw Paw Lake average.
Solar Financing Terms
Most solar installers in Paw Paw Lake offer solar loans, which reduce your upfront costs of installing a solar system. While solar loans make switching to solar energy more accessible for Paw Paw Lake homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar system can influence your pricing. Paw Paw Lake's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that offers the products, warranties and services you're looking for and also fit into your budget.
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 | $19,153 | 9.8 years |
| 8 kW | $2.87 | $16,051 | $25,852 | 9.6 years |
| 10 kW | $2.81 | $19,670 | $32,709 | 9.4 years |
| 12 kW | $2.75 | $23,132 | $39,723 | 9.2 years |
| 14 kW | $2.70 | $26,436 | $46,894 | 9.0 years |
| 16 kW | $2.64 | $29,584 | $54,223 | 8.8 years |
| 18 kW | $2.59 | $32,574 | $61,709 | 8.6 years |
| 20 kW | $2.53 | $35,406 | $69,352 | 8.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Installation Process: Make sure you're aligned with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Contract: Look through the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though 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 peruse their list of options before deciding.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Paw Paw Lake, MI Solar Cost FAQs
What is the average cost of installing solar panels in Paw Paw Lake?
The average cost of solar panels in Paw Paw Lake 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 such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
The initial cost is a key 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 consider are the quality and durability of your solar panels.
Can solar panels significantly reduce my electricity bills?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Paw Paw Lake, 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 contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally 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.