Solar Panel Cost Guide in Pennfield, MI (2024 Update)
- Pennfield Solar Installation Cost: $17,354
- 25-Year Savings: $21,679
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Pennfield
We go over average solar pricing in Pennfield.
Although the national average of solar panels is $2.66 per watt, solar panels in Pennfield generally cost about 4.Using this figure, a typical 6.1-kW system would cost about $17,354 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.With average savings of about $21,000 on power bills over 20 years, many homeowners in Pennfield find installing solar panels can be quite rewarding.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Pennfield
| Year | Return on Investment |
|---|---|
| 1 years | $-16,101 |
| 3 years | $-13,593 |
| 5 years | $-11,086 |
| 7 years | $-8,579 |
| 9 years | $-6,071 |
| 11 years | $-3,564 |
| 13 years | $-1,056 |
| 15 years | $1,451 |
| 17 years | $3,958 |
| 19 years | $6,466 |
| 21 years | $8,973 |
| 23 years | $11,480 |
| 25 years | $13,988 |
Top Solar Installers in Pennfield
When going solar, many homeowners choose to hire a solar company since overseeing your solar installation yourself can be a time-consuming project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Pennfield:
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 Pennfield
Factors that Affect Solar Panel Costs in Pennfield
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Pennfield: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Pennfield to be too steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to a higher cost over time due to interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Pennfield is the company you get to install your solar system. As with choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services for different budgets.Additionally, some companies in Pennfield 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 help you save 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 | $15,369 | 13.4 years |
| 8 kW | $4.14 | $23,191 | $20,947 | 13.1 years |
| 10 kW | $4.06 | $28,420 | $26,752 | 12.9 years |
| 12 kW | $3.98 | $33,422 | $32,785 | 12.6 years |
| 14 kW | $3.90 | $38,196 | $39,045 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $45,532 | 12.1 years |
| 18 kW | $3.74 | $47,064 | $52,246 | 11.8 years |
| 20 kW | $3.65 | $51,156 | $59,188 | 11.6 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 find the right company for you, here are some tips to keep in mind:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer high-quality solar panel installation and expertise.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Solar Panel Brands: The type of solar panel you’d like plays a role in which company you should opt for, since different companies have access to different panels.
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 Pennfield, MI Solar Cost FAQs
What is the average cost of installing solar panels in Pennfield?
The average cost of solar panels in Pennfield is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,103.44 per year.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to account for their typical energy usage.
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.