Solar Panel Cost Guide in Romeo, MI (Mar 2023)

  • Romeo Solar Installation Cost: $11,959
  • 25-Year Savings: $13,160
  • Payback Period: 11.9 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Romeo

Here's how much it might cost to make the switch to solar in Romeo.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Romeo, the typical cost of solar panels is 2.81 per watt. The average Romeo homeowner needs a 6.1-kilowatt system, which would cost about $11,959 with the federal tax credit, or $17,101 before the 30% 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 equipment you want, your solar contractor and more. Many homeowners find going solar is a sound investment. The average homeowner in Romeo can save around $16,000 on their power bills over 20 years.

To calculate your potential savings and connect with a local solar installer, click the button below.

Solar savings over time in Romeo

Year Return on Investment
1 years $-10,955
3 years $-8,945
5 years $-6,935
7 years $-4,926
9 years $-2,916
11 years $-907
13 years $1,103
15 years $3,112
17 years $5,122
19 years $7,132
21 years $9,141
23 years $11,151
25 years $13,160

Top Solar Installers in Romeo

Putting up solar panels yourself can be a challenging task, which is why getting a solar installation company is a good option for many homeowners. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your home.

If you'd like to switch to solar energy but still aren't sure which solar company to go with, here are our suggestions for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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

The cost of installing a solar system in Romeo 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 home needs, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation use 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. There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.

Solar Financing Terms

Most solar companies in Romeo offer solar loans, which reduce the initial cost of installing solar panels. 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The last significant cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Romeo, you'll have many options to choose from, but each comes at different price points for labor and equipment. Additionally, some companies in Romeo have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 $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

Since the model of solar panels and the installer you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:

  • Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose has an impact on which solar panel brands you have access to.
  • Warranty: Warranties that cover defective panels and repairs over around 25 years are the best you can get in the business, and offering such a warranty is one mark of a good company.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 things like the model of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Romeo?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home 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.

Does Romeo have a net metering program?

Most states offer net metering programs of some kind. Through these, you can get paid for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt 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.

Follow us