Solar Panel Cost Guide in Portsmouth, MI (2023 Update)
- Portsmouth Solar Installation Cost: $12,108
- 25-Year Savings: $21,153
- Payback Period: 9.1 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Portsmouth
Let's have a look at the average cost of solar in Portsmouth.
Although the national average of solar panels is $2.66 per watt, solar panels in Portsmouth typically cost around 2.81. To account for the typical energy needs of the average home in Portsmouth, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,117, or $17,327 before the federal solar tax credit of 30% is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Portsmouth homeowners. The price of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. For many homeowners, the upfront cost of solar panels is worth paying. On average Portsmouth homeowners see about $21,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a top solar installer in Portsmouth for a custom estimate.
Solar savings over time in Portsmouth
| Year | Return on Investment |
|---|---|
| 1 years | $-11,998 |
| 3 years | $-11,776 |
| 5 years | $-11,554 |
| 7 years | $-11,332 |
| 9 years | $-11,111 |
| 11 years | $-10,889 |
| 13 years | $-10,667 |
| 15 years | $-10,445 |
| 17 years | $-10,224 |
| 19 years | $-10,002 |
| 21 years | $-9,780 |
| 23 years | $-9,558 |
| 25 years | $-9,337 |
Top Solar Installers in Portsmouth
When making the switch to solar, many homeowners opt to use a solar installer since putting up solar panels yourself can be a challenging project. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations 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
See all of the solar companies in Portsmouth
Factors that Affect Solar Panel Costs in Portsmouth
While the average cost of a solar system in Portsmouth is $12,117, your final cost may differ. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your energy needs. The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Portsmouth homeowners opt to finance their solar panel systems to make paying for solar more affordable. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect your pricing. Portsmouth's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most significant role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices because of greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes 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 | $20,145 | 9.5 years |
| 8 kW | $2.87 | $16,051 | $27,175 | 9.3 years |
| 10 kW | $2.81 | $19,670 | $34,362 | 9.1 years |
| 12 kW | $2.75 | $23,132 | $41,707 | 8.9 years |
| 14 kW | $2.70 | $26,436 | $49,208 | 8.7 years |
| 16 kW | $2.64 | $29,584 | $56,868 | 8.6 years |
| 18 kW | $2.59 | $32,574 | $64,684 | 8.4 years |
| 20 kW | $2.53 | $35,406 | $72,658 | 8.2 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: Though reading through a contract can be tedious, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Solar Panel Brands: Different companies will have different brands and kinds of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous 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 Portsmouth, MI Solar Cost FAQs
What is the average cost of installing solar panels in Portsmouth?
The average cost of solar panels in Portsmouth is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Portsmouth?
Leasing solar panels can be an attractive choice, because it commonly comes with low or $0 upfront payments. The downside 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 incentives and your home value won't increase. Buying solar panels is a better way to go if you want to maximize your savings.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Portsmouth, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
How long do solar panels last in Portsmouth?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can replace them after having 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.