Solar Panel Cost Guide in Ravenna, MI (2023 Update)
- Ravenna Solar Installation Cost: $11,310
- 25-Year Savings: $23,194
- Payback Period: 8.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Ravenna
Find out how much it might cost to make the switch to solar in Ravenna.
The average cost of a solar system in Ravenna is 2.81 per watt. To cover the typical energy needs of the average home in Ravenna, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,310, or $16,173 before the federal solar tax credit of 30% is applied.
The true cost of your system can go above or below the average in Ravenna depending on a variety of factors, such as the type of solar panels you choose and the solar contractor you hire. Many homeowners find going solar is a solid investment. The average homeowner in Ravenna can save about $23,000 on their energy bills over 20 years.
To receive a free estimate from a vetted solar company in Ravenna, you can click the button below.
Solar savings over time in Ravenna
| Year | Return on Investment |
|---|---|
| 1 years | $-9,930 |
| 3 years | $-7,170 |
| 5 years | $-4,409 |
| 7 years | $-1,649 |
| 9 years | $1,111 |
| 11 years | $3,872 |
| 13 years | $6,632 |
| 15 years | $9,392 |
| 17 years | $12,153 |
| 19 years | $14,913 |
| 21 years | $17,674 |
| 23 years | $20,434 |
| 25 years | $23,194 |
Top Solar Installers in Ravenna
Many homeowners decide to hire a solar installer since installing solar panels on your own can be time-consuming. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Ravenna
Factors that Affect Solar Panel Costs in Ravenna
The cost of installing a solar system in Ravenna can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. That's why it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Ravenna, where sunlight is relatively abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over five to seven years on average. It's wise to add 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Ravenna is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for example, there's no shortage of solar installers that provide a range of services for different budgets. Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fit into your budget.
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 | $23,715 | 8.5 years |
| 8 kW | $2.87 | $16,051 | $31,934 | 8.4 years |
| 10 kW | $2.81 | $19,670 | $40,311 | 8.2 years |
| 12 kW | $2.75 | $23,132 | $48,846 | 8.0 years |
| 14 kW | $2.70 | $26,436 | $57,538 | 7.9 years |
| 16 kW | $2.64 | $29,584 | $66,387 | 7.7 years |
| 18 kW | $2.59 | $32,574 | $75,393 | 7.5 years |
| 20 kW | $2.53 | $35,406 | $84,557 | 7.4 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Installation Process: When making the switch to solar energy, it's crucial to maintain an open line of communication with your solar installer. See to it that you understand how the installation process will go and the project timeline.
- 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 Panel Brands: The kind of solar panel you'd like to get plays a part in which company you should go with, since different companies have different panels.
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 Ravenna, MI Solar Cost FAQs
How much does it cost to install solar panels in Ravenna?
This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly 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 be more expensive if you want other solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Ravenna?
A solar panel system isn't free in Ravenna, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Is it worth going solar in Ravenna?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and how much direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.