Solar Panel Cost Guide in Reynolds, MI (2024 Update)
- Reynolds Solar Installation Cost: $17,474
- 25-Year Savings: $21,600
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Reynolds
Let’s have a look at the average cost of solar in Reynolds.
The national average cost of solar panels is $2.66 per watt, but in Reynolds it’s 4 per watt.The average Reynolds homeowner needs a 6.1-kilowatt system, which would cost about $17,474 with the federal tax credit, or $24,988 before the 0 tax credit 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 want, your solar contractor and more.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Reynolds see about $21,000 in savings on energy bills over 20 years.
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 Reynolds
| Year | Return on Investment |
|---|---|
| 1 years | $-16,220 |
| 3 years | $-13,713 |
| 5 years | $-11,205 |
| 7 years | $-8,698 |
| 9 years | $-6,191 |
| 11 years | $-3,683 |
| 13 years | $-1,176 |
| 15 years | $1,332 |
| 17 years | $3,839 |
| 19 years | $6,346 |
| 21 years | $8,854 |
| 23 years | $11,361 |
| 25 years | $13,868 |
Top Solar Installers in Reynolds
When switching to solar energy, many homeowners prefer to go with a solar installer since installing a solar system yourself can be a challenging project. Companies can also offer access to a large variety of the best solar panels and help you pick which one will be best for your home.
Working with a vetted solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Reynolds
Factors that Affect Solar Panel Costs in Reynolds
While the average cost of a solar system in Reynolds is $17,474, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar installers in Reynolds provide solar loans, which reduce your upfront costs of installing solar panels.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
The solar panel installation company you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Reynolds 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 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 | $4.22 | $17,734 | $15,146 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,649 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,380 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,338 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,524 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $44,937 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,577 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,444 | 11.7 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 installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Warranty: If you’re concerned about the longevity of your solar energy system, checking if your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer service, such as part repairs and replacements.
- Contract: Look through the contract terms closely to make sure you understand the total cost, project completion timeline rebates and warranties.
EcoWatch's Reynolds, MI Solar Cost FAQs
How much does it cost to install solar panels in Reynolds?
The average cost of solar panels in Reynolds 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 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 Reynolds?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is it worth going solar in Reynolds?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
Although 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 the amount of energy they produce will have decreased significantly after that point. You can choose to 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.