Solar Panel Cost Guide in Rockwood, MI (2023 Update)
- Rockwood Solar Installation Cost: $12,028
- 25-Year Savings: $13,091
- Payback Period: 12.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Rockwood
We go over average solar pricing in Rockwood.
The national average cost of solar panels is $2.66 per watt, but in Rockwood it's 2.81 per watt. The average Rockwood homeowner needs a 6.1-kilowatt system, which would cost about $12,038 with the federal tax credit, or $17,214 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Despite the significant initial cost, the average Rockwood homeowner can save about $16,000 on their energy bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar panel company in Rockwood for a custom quote.
Solar savings over time in Rockwood
| Year | Return on Investment |
|---|---|
| 1 years | $-11,945 |
| 3 years | $-11,777 |
| 5 years | $-11,610 |
| 7 years | $-11,442 |
| 9 years | $-11,275 |
| 11 years | $-11,107 |
| 13 years | $-10,940 |
| 15 years | $-10,772 |
| 17 years | $-10,605 |
| 19 years | $-10,438 |
| 21 years | $-10,270 |
| 23 years | $-10,103 |
| 25 years | $-9,935 |
Top Solar Installers in Rockwood
Although it's possible to install solar panels yourself, it takes extra time and expertise. That's one of the reasons the majority of homeowners choose to go with a solar panel installer. The payback period on a solar system will vary depending on factors like your location and energy usage, but working with a solar installer can help you reach a break-even point sooner. Your provider will be able to help you identify incentives available in your area.
If you'd like to switch to solar energy but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
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 Rockwood
Factors that Affect Solar Panel Costs in Rockwood
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few key factors that determine your overall cost in Rockwood: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation require better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,810. The kind of solar panels and equipment you choose is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Rockwood homeowners opt to finance their solar panel systems to make paying for solar more affordable. Even though solar loans make going solar more accessible for Rockwood homeowners, they can also add to the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar panel companies in Rockwood, and each can charge different amounts for labor and equipment. Some companies only sell products with high efficiency and therefore a higher price point — 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 find a company that has the products, warranties and services you want 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 | $12,373 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $16,812 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,408 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,162 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,073 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $36,141 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,367 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,750 | 10.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the company you choose significantly influences your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- 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.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years most likely offer quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
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 Rockwood, MI Solar Cost FAQs
How much does it cost to install solar panels in Rockwood?
This is a hard question to answer exactly, because the cost depends on many 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 above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration 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 cities 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.
How will solar panels impact my home value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rockwood is currently $166,400, so you can expect a value of about $6,822 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Rockwood is a rewarding investment.
How long do solar panels last in Rockwood?
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 decide to replace them once you've had them for that long or you can continue to use 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.