Solar Panel Cost Guide in Putnam, MI (2024 Update)
- Putnam Solar Installation Cost: $17,582
- 25-Year Savings: $16,346
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Putnam
Find out what the average cost of a solar system is in Putnam.
The average cost of a solar system in Putnam is 4 per watt.The average Putnam homeowner needs a 6.2-kilowatt system, which would cost about $17,582 with the federal tax credit, or $25,142 before the 0 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 system you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on utility bills.
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 Putnam
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Putnam
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Hiring a solar company can make your swap to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
Working with a licensed solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Putnam
Factors that Affect Solar Panel Costs in Putnam
Even though the average cost of a solar system in Putnam is $17,582, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to keep in mind.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The brand of solar panels and equipment you get is another factor that will significantly influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
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 Putnam homeowners decide to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, 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 more than the original 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
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Putnam is the company you choose to install your solar system. As with choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that provide a range of services at different price points.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $9,921 | 16.0 years |
| 8 kW | $4.14 | $23,191 | $13,683 | 15.7 years |
| 10 kW | $4.06 | $28,420 | $17,672 | 15.4 years |
| 12 kW | $3.98 | $33,422 | $21,889 | 15.1 years |
| 14 kW | $3.90 | $38,196 | $26,332 | 14.8 years |
| 16 kW | $3.82 | $42,744 | $31,004 | 14.5 years |
| 18 kW | $3.74 | $47,064 | $35,902 | 14.2 years |
| 20 kW | $3.65 | $51,156 | $41,028 | 13.9 years |
How to Save on Solar Panels
There are numerous companies available in Putnam, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide high-quality solar panel installation and expertise.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for a long time and save you money on part replacement and repairs.
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 Putnam, MI Solar Cost FAQs
What is the average cost of installing solar panels in Putnam?
The average cost of solar panels in Putnam 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 things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a very important 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 think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Putnam?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can take a 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 install between 20 and 35 panels to cover 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.