Solar Panel Cost Guide in Raisin, MI (2023 Update)
- Raisin Solar Installation Cost: $11,999
- 25-Year Savings: $19,723
- Payback Period: 9.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Raisin
Here's how much it might cost to go solar in Raisin.
In Raisin, solar panels cost about 2.81 per watt on average. To cover the typical energy usage of the average home in Raisin, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs about $11,999, or $17,159 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar panels you choose, your solar contractor and more. With average savings of about $20,000 on utility bills over 20 years, many homeowners in Raisin find installing solar panels has a decent ROI.
You can click the button below to get connected with a pre-vetted solar installer in Raisin for a quote for your home.
Solar savings over time in Raisin
| Year | Return on Investment |
|---|---|
| 1 years | $-10,730 |
| 3 years | $-8,192 |
| 5 years | $-5,654 |
| 7 years | $-3,117 |
| 9 years | $-579 |
| 11 years | $1,959 |
| 13 years | $4,496 |
| 15 years | $7,034 |
| 17 years | $9,572 |
| 19 years | $12,109 |
| 21 years | $14,647 |
| 23 years | $17,185 |
| 25 years | $19,723 |
Top Solar Installers in Raisin
Trying to install solar panels yourself can be a dangerous undertaking, which is why hiring a solar installation company is a good option for many homeowners. The expertise that solar installers provide can be invaluable as well, especially if you don't quite know what kind of solar equipment you need.
If you'd like to go solar but still aren't sure which solar company to go with, here are our suggestions for providers near you:
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 Raisin
Factors that Affect Solar Panel Costs in Raisin
The cost of installing a solar system in Raisin can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. 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 energy needs. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. Additionally, extra products, such as solar batteries, can bring your total well above the Raisin average.
Solar Financing Terms
Many homeowners find the average cost of solar in Raisin to be prohibitively costly, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also result in higher prices over time because of interest. However, the interest on solar loans also increases your all-in costs, so it's important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Raisin have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.92 | $12,274 | $18,926 | 9.8 years |
| 8 kW | $2.87 | $16,051 | $25,550 | 9.6 years |
| 10 kW | $2.81 | $19,670 | $32,331 | 9.5 years |
| 12 kW | $2.75 | $23,132 | $39,269 | 9.3 years |
| 14 kW | $2.70 | $26,436 | $46,364 | 9.1 years |
| 16 kW | $2.64 | $29,584 | $53,617 | 8.9 years |
| 18 kW | $2.59 | $32,574 | $61,028 | 8.7 years |
| 20 kW | $2.53 | $35,406 | $68,595 | 8.5 years |
How to Save on Solar Panels
Since the type of solar panels and the company you choose considerably affects your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Solar Panel Brands: The model of solar panel you'd like to install plays a role in which installer you should go with, since different companies have different panels.
- Installation Process: When going solar, it's crucial to maintain an open line of communication with your solar company. Confirm that you understand how the installation process will go and the completion timeline.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
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 Raisin, MI Solar Cost FAQs
How much does it cost to install solar panels in Raisin?
This is a hard question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Raisin?
You can't get solar panels for free in Raisin. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Raisin?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future energy bills.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had 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.