Solar Panel Cost Guide in Salem, MI (2024 Update)
- Salem Solar Installation Cost: $17,419
- 25-Year Savings: $13,064
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Salem
Let’s have a look at the average cost of solar in Salem.
The average cost of solar panels in Salem is 4 per watt.The average solar panel system size in Salem is around 6.1 kilowatts, meaning a cost of about $17,419 for a solar installation, or $24,909 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy consumption, the type of solar system 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.
To get a free estimate from a vetted solar installation company in Salem, you can click the button below.
Solar savings over time in Salem
| Year | Return on Investment |
|---|---|
| 1 years | $-16,027 |
| 3 years | $-13,242 |
| 5 years | $-10,457 |
| 7 years | $-7,673 |
| 9 years | $-4,888 |
| 11 years | $-2,103 |
| 13 years | $681 |
| 15 years | $3,466 |
| 17 years | $6,251 |
| 19 years | $9,035 |
| 21 years | $11,820 |
| 23 years | $14,605 |
| 25 years | $17,389 |
Top Solar Installers in Salem
Many homeowners decide to use a solar installer since trying to put up solar panels by yourself can be challenging. A solar company can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
Working with a professional solar company can help your solar project go smoothly. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Salem
Factors that Affect Solar Panel Costs in Salem
Even though the average cost of a solar system in Salem is $17,419, 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 Salem, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can determine by looking at past energy bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.The brand and type 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 limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That’s why many Salem homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Salem is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services at different costs.Additionally, some companies in Salem have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $6,856 | 18.0 years |
| 8 kW | $4.14 | $23,191 | $9,597 | 17.7 years |
| 10 kW | $4.06 | $28,420 | $12,564 | 17.3 years |
| 12 kW | $3.98 | $33,422 | $15,759 | 17.0 years |
| 14 kW | $3.90 | $38,196 | $19,181 | 16.6 years |
| 16 kW | $3.82 | $42,744 | $22,831 | 16.3 years |
| 18 kW | $3.74 | $47,064 | $26,708 | 15.9 years |
| 20 kW | $3.65 | $51,156 | $30,812 | 15.6 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Contract: Before you sign a contract with a solar installer, be sure to look it over fully so you understand the terms. Also, ask questions if you aren’t 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: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: The type of solar panel you want to get plays a role in which installer you should opt for, since different companies have access to different panels.
Best National Provider
SunPower
- 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
- 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 Salem, MI Solar Cost FAQs
How much does it cost to install solar panels in Salem?
The average cost of solar panels in Salem 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 stuff like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Salem?
A solar panel system isn’t free in Salem, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Salem have a net metering program?
The majority of states have net metering programs of some kind. Through these, you can receive compensation 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 many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.