Solar Panel Cost Guide in Rose, MI (Mar 2023)
- Rose Solar Installation Cost: $12,156
- 25-Year Savings: $15,510
- Payback Period: 11.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Rose
Let's have a look at the average cost of solar in Rose.
While the national average of solar panels is $2.66 per watt, solar panels in Rose generally cost about 2.81. The average Rose homeowner needs a 6.2-kilowatt system, which would cost about $12,156 with the federal tax credit, or $17,383 before the 30% tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of going solar can vary based on a few factors, such as how many panels you need, your energy consumption and what company you go with. With average savings of about $17,000 on utility bills over 20 years, many homeowners in Rose find installing solar panels can pay off big.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Rose
| Year | Return on Investment |
|---|---|
| 1 years | $-11,049 |
| 3 years | $-8,836 |
| 5 years | $-6,623 |
| 7 years | $-4,410 |
| 9 years | $-2,196 |
| 11 years | $17 |
| 13 years | $2,230 |
| 15 years | $4,444 |
| 17 years | $6,657 |
| 19 years | $8,870 |
| 21 years | $11,083 |
| 23 years | $13,297 |
| 25 years | $15,510 |
Top Solar Installers in Rose
Although it's possible to install solar panels yourself, it requires extra labor and knowledge. That's one of the reasons most homeowners choose to hire a solar panel installer. Another advantage of going with a solar installer is that they can help you optimize your ROI by bringing down your future costs of repairs and replacements with the help of warranties and helping you learn about local incentives you can take advantage of.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some 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 Rose
Factors that Affect Solar Panel Costs in Rose
The cost of installing a solar system in Rose can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The largest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the price of solar panels in Rose, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Rose average.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are an affordable option because they reduce your upfront costs and allow you to 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 total interest you'll pay over the length of the loan. If you can only 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 significantly.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Rose is the company you hire to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there's no shortage of solar installers that provide a range of services at different costs. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you're looking for 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 | $14,598 | 11.4 years |
| 8 kW | $2.87 | $16,051 | $19,779 | 11.2 years |
| 10 kW | $2.81 | $19,670 | $25,117 | 11.0 years |
| 12 kW | $2.75 | $23,132 | $30,612 | 10.8 years |
| 14 kW | $2.70 | $26,436 | $36,265 | 10.5 years |
| 16 kW | $2.64 | $29,584 | $42,075 | 10.3 years |
| 18 kW | $2.59 | $32,574 | $48,042 | 10.1 years |
| 20 kW | $2.53 | $35,406 | $54,167 | 9.9 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 pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose plays a role in which solar panel brands you have access to.
- Contract: Read the contract terms carefully to make sure you understand the overall cost, project completion timeline rebates and warranties.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can research your installer's reputation is by reading reviews.
- Warranty: A comprehensive, 25-year warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
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 Rose, MI Solar Cost FAQs
How much does it cost to install solar panels in Rose?
This is a tough question to answer precisely, because the cost depends on a variety of 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 cost more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Rose?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Do solar panels increase your home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Rose is currently $214,971, which means you can look forward to a value of about $8,814 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Rose is a worthwhile investment.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.