Solar Panel Cost Guide in Royalton, MI (2024 Update)
- Royalton Solar Installation Cost: $16,836
- 25-Year Savings: $13,529
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Royalton
We go over average solar pricing in Royalton.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Royalton, the typical cost of a solar system is 4 per watt.The average Royalton homeowner needs a 5.9-kilowatt system, which would cost about $16,836 with the federal tax credit, or $24,075 before the 0 tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Royalton homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.With typical savings of about $16,000 on utility bills over 20 years, many homeowners in Royalton find investing in solar has a decent ROI.
Click the button below to get connected to a vetted solar panel company in Royalton for a personalized estimate.
Solar savings over time in Royalton
| Year | Return on Investment |
|---|---|
| 1 years | $-15,611 |
| 3 years | $-13,163 |
| 5 years | $-10,714 |
| 7 years | $-8,265 |
| 9 years | $-5,816 |
| 11 years | $-3,367 |
| 13 years | $-918 |
| 15 years | $1,531 |
| 17 years | $3,979 |
| 19 years | $6,428 |
| 21 years | $8,877 |
| 23 years | $11,326 |
| 25 years | $13,775 |
Top Solar Installers in Royalton
When switching to solar energy, many homeowners prefer to go with a solar company since DIY solar panel installation can be a difficult project. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can get a free estimate from a local solar installer on the cost of solar panels 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Royalton
Factors that Affect Solar Panel Costs in Royalton
Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Royalton: 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 size of the solar system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Royalton average.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over five to seven years on average.Although solar loans make switching to solar energy more accessible for Royalton homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Royalton is the company you get to install your PV system. As with choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that offer a range of services for different budgets.Additionally, some companies in Royalton are more knowledgeable about local solar incentives and can help you make good use 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 | $4.22 | $17,734 | $7,770 | 17.4 years |
| 8 kW | $4.14 | $23,191 | $10,815 | 17.0 years |
| 10 kW | $4.06 | $28,420 | $14,087 | 16.7 years |
| 12 kW | $3.98 | $33,422 | $17,587 | 16.4 years |
| 14 kW | $3.90 | $38,196 | $21,314 | 16.0 years |
| 16 kW | $3.82 | $42,744 | $25,268 | 15.7 years |
| 18 kW | $3.74 | $47,064 | $29,449 | 15.4 years |
| 20 kW | $3.65 | $51,156 | $33,858 | 15.0 years |
How to Save on Solar Panels
The solar company you go with will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Reputation: Companies that have been in business for many years likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- 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 affects which solar panel brands you have access to.
- Contract: Before signing a contract with a solar company, make sure to 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 if there are any guarantees about energy production.
- 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 panels are installed, such as repairing your electrical system or roof.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Royalton, MI Solar Cost FAQs
How much does it cost to install solar panels in Royalton?
The average cost of solar panels in Royalton is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my electricity bills?
Solar panels can potentially eliminate your electricity bills depending on where you’re located and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $850.14 per year.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house 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.