Solar Panel Cost Guide in Richland, MI (2023 Update)
- Richland Solar Installation Cost: $11,986
- 25-Year Savings: $21,960
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Richland
We break down average solar pricing in Richland.
In Richland, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.1-kW system would cost about $11,979 before the 30% federal solar tax credit is applied.
How much you pay can be above or below the average in Richland depending on a few factors, such as the brand of solar panels you choose and the solar contractor you hire. But, once you've paid the initial cost of installation, the payback for most homeowners is quite good, with a net average savings of about $21,000 over 20 years on utility bills.
To get a free quote from a pre-vetted solar installation company in Richland, you can click the button below.
Solar savings over time in Richland
| Year | Return on Investment |
|---|---|
| 1 years | $-10,733 |
| 3 years | $-8,225 |
| 5 years | $-5,718 |
| 7 years | $-3,210 |
| 9 years | $-703 |
| 11 years | $1,804 |
| 13 years | $4,312 |
| 15 years | $6,819 |
| 17 years | $9,327 |
| 19 years | $11,834 |
| 21 years | $14,341 |
| 23 years | $16,849 |
| 25 years | $19,356 |
Top Solar Installers in Richland
Although it's possible to install solar panels by yourself, it takes extra energy and knowledge. That's why most people choose a solar panel installer. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what kind of solar equipment you need.
If you're searching for a solar company in Richland, the EcoWatch team has put together a list of our top suggestions here:
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 Richland
Factors that Affect Solar Panel Costs in Richland
The cost of installing a solar system in Richland can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,810. The 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 over time on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Richland average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you opt for to handle your switch to green energy can have an effect on your total costs. There are about 3 solar installation companies operating in Richland, and each can charge varying amounts for labor and equipment. Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.92 | $12,274 | $21,150 | 9.2 years |
| 8 kW | $2.87 | $16,051 | $28,515 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,037 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $43,717 | 8.7 years |
| 14 kW | $2.70 | $26,436 | $51,554 | 8.5 years |
| 16 kW | $2.64 | $29,584 | $59,548 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $67,700 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,009 | 7.9 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:
- Installation Process: Make sure you're on the same page with the installer in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as repairing your electrical system or roof.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what you can expect about the installation process.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
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 Richland, MI Solar Cost FAQs
How much does it cost to install solar panels in Richland?
The average cost of solar panels in Richland 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Richland?
A solar panel system isn't free in Richland, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Can you sell solar power back to the grid in Richland?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
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 how much 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 get 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.