Solar Panel Cost Guide in Pennfield, MI (2023 Update)
- Pennfield Solar Installation Cost: $12,011
- 25-Year Savings: $21,679
- Payback Period: 8.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Pennfield
See how much it might cost to switch to solar power in Pennfield.
In Pennfield, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.1-kW system would cost about $12,018 before the 30% federal solar tax credit is applied.
These figures are only estimates, and the cost of going solar for you may vary based on your energy needs and what company you choose to go with. With typical savings of about $21,000 on energy bills over 20 years, many homeowners in Pennfield find installing solar panels can pay off big.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Pennfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,899 |
| 3 years | $-11,674 |
| 5 years | $-11,450 |
| 7 years | $-11,225 |
| 9 years | $-11,001 |
| 11 years | $-10,776 |
| 13 years | $-10,551 |
| 15 years | $-10,327 |
| 17 years | $-10,102 |
| 19 years | $-9,878 |
| 21 years | $-9,653 |
| 23 years | $-9,428 |
| 25 years | $-9,204 |
Top Solar Installers in Pennfield
Trying to put up solar panels yourself can be a stressful project, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
If you'd like to go solar but still aren't certain which solar installer to go with, here are our recommendations for providers in Pennfield:
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 Pennfield
Factors that Affect Solar Panel Costs in Pennfield
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that affect your total cost in Pennfield: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in Pennfield. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Pennfield, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of 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
Many homeowners find the average cost of solar in Pennfield to be prohibitively steep, even if the investment pays off over time. Fortunately, nearly every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest. 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you select will affect your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing down to compete with bigger names.
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 | $20,829 | 9.3 years |
| 8 kW | $2.87 | $16,051 | $28,087 | 9.1 years |
| 10 kW | $2.81 | $19,670 | $35,502 | 8.9 years |
| 12 kW | $2.75 | $23,132 | $43,075 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $50,805 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $58,692 | 8.4 years |
| 18 kW | $2.59 | $32,574 | $66,736 | 8.2 years |
| 20 kW | $2.53 | $35,406 | $74,938 | 8.0 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose considerably influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Companies that have been in business 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 adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project timeline.
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Pennfield, MI Solar Cost FAQs
What is the average cost of installing solar panels in Pennfield?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Pennfield?
Leasing solar panels can be an appealing choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Can you sell solar power back to the grid in Pennfield?
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 electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.