Solar Panel Cost Guide in Rutland, MI (2024 Update)
- Rutland Solar Installation Cost: $17,425
- 25-Year Savings: $21,958
- Payback Period: 12.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Rutland
We go over average solar pricing in Rutland.
Although the national average of solar panels is $2.66 per watt, solar panels in Rutland typically cost around 4.The average solar panel system size in Rutland is around 6.1 kilowatts, meaning a cost of about $17,425 for a solar installation, or $24,918 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may look different based on your specific situation and what company you want to go with.With average savings of about $21,000 on electricity bills over 20 years, many homeowners in Rutland find going solar can pay off big.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Rutland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,171 |
| 3 years | $-13,664 |
| 5 years | $-11,156 |
| 7 years | $-8,649 |
| 9 years | $-6,141 |
| 11 years | $-3,634 |
| 13 years | $-1,127 |
| 15 years | $1,381 |
| 17 years | $3,888 |
| 19 years | $6,396 |
| 21 years | $8,903 |
| 23 years | $11,410 |
| 25 years | $13,918 |
Top Solar Installers in Rutland
Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be time-consuming. Some solar installers, particularly local ones, can help you better understand incentives in Rutland, optimizing your ROI.
If you're searching for a solar installer in Rutland, we've put together a list of our top suggestions here:
See all of the solar companies in Rutland
Factors that Affect Solar Panel Costs in Rutland
Though the average cost of a solar system in Rutland is $17,425, your final cost may be higher or lower than that. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Rutland, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, 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 installers in Rutland provide solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you choose to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Rutland, and each can charge varying amounts for labor and equipment.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $15,556 | 13.3 years |
| 8 kW | $4.14 | $23,191 | $21,196 | 13.1 years |
| 10 kW | $4.06 | $28,420 | $27,064 | 12.8 years |
| 12 kW | $3.98 | $33,422 | $33,159 | 12.5 years |
| 14 kW | $3.90 | $38,196 | $39,481 | 12.3 years |
| 16 kW | $3.82 | $42,744 | $46,030 | 12.0 years |
| 18 kW | $3.74 | $47,064 | $52,807 | 11.8 years |
| 20 kW | $3.65 | $51,156 | $59,812 | 11.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since selecting a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the company 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.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one indication of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer’s reputation is by reading reviews.
- 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 the cost.
EcoWatch's Rutland, MI Solar Cost FAQs
How much does it cost to install solar panels in Rutland?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Rutland?
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 bang for your buck from going solar.
How will having solar panels impact my property value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
What solar power system size is right for my home?
To figure out what solar panel system size you need, you need to know how much energy your home needs 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.