Solar Panel Cost Guide in Romeo, MI (2023 Update)
- Romeo Solar Installation Cost: $11,953
- 25-Year Savings: $13,167
- Payback Period: 11.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Romeo
Find out what the average cost of solar panel installation is in Romeo.
Although the national average of solar panels is $2.66 per watt, solar panels in Romeo generally cost about 2.81. The average solar panel system size in Romeo is around 6.1 kilowatts, meaning a cost of about $11,959 for a solar installation, or $17,101 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more. For most homeowners, the upfront cost of solar is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Romeo for a quote for your home.
Solar savings over time in Romeo
| Year | Return on Investment |
|---|---|
| 1 years | $-11,869 |
| 3 years | $-11,702 |
| 5 years | $-11,534 |
| 7 years | $-11,367 |
| 9 years | $-11,199 |
| 11 years | $-11,032 |
| 13 years | $-10,864 |
| 15 years | $-10,697 |
| 17 years | $-10,529 |
| 19 years | $-10,362 |
| 21 years | $-10,194 |
| 23 years | $-10,027 |
| 25 years | $-9,860 |
Top Solar Installers in Romeo
Trying to install solar panels on your own can be a challenging task, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you choose which one will be right for your family.
There are a number of licensed solar professionals that can help you install your solar panels. 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 Romeo
Factors that Affect Solar Panel Costs in Romeo
For many Romeo homeowners, the decision to adopt solar energy depends on cost. However, the range of solar installation costs can be quite wide in Romeo, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,810. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for a solar system in cash is difficult, solar loans are a popular option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. You'll have to consider the long-term cost of loans, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $12,529 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $17,020 | 12.1 years |
| 10 kW | $2.81 | $19,670 | $21,668 | 11.9 years |
| 12 kW | $2.75 | $23,132 | $26,474 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,437 | 11.4 years |
| 16 kW | $2.64 | $29,584 | $36,557 | 11.2 years |
| 18 kW | $2.59 | $32,574 | $41,835 | 10.9 years |
| 20 kW | $2.53 | $35,406 | $47,270 | 10.7 years |
How to Save on Solar Panels
There are a lot of companies to choose from in Romeo, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: If you're worried about the longevity of your solar energy system, verifying that your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Contract: It's important to look over your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
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 Romeo, MI Solar Cost FAQs
How much does it cost to install solar panels in Romeo?
The average cost of solar panels in Romeo 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 Romeo?
You can't get solar panels for free in Romeo. 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 rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase the value of your home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Romeo is currently $263,100, which means you can expect a value of about $10,787 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Romeo is a worthwhile investment.
How long do solar panels last in Romeo?
Although 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 how much 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 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.