Solar Panel Cost Guide in Saugatuck, MI (2023 Update)
- Saugatuck Solar Installation Cost: $11,684
- 25-Year Savings: $23,087
- Payback Period: 8.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Saugatuck
Find out what the average cost of solar panel installation is in Saugatuck.
The average cost of a solar panel system in Saugatuck is 2.81 per watt. Using this figure, a typical 5.9-kW system would cost about $11,684 before the 30% federal solar tax credit is applied.
The true cost of your system can be above or below the average in Saugatuck based on several factors, such as the kind of solar panels you choose and the solar company you hire. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on electricity bills.
Click the button below to get connected to a highly rated solar installer in Saugatuck for a personalized estimate.
Solar savings over time in Saugatuck
| Year | Return on Investment |
|---|---|
| 1 years | $-10,293 |
| 3 years | $-7,511 |
| 5 years | $-4,730 |
| 7 years | $-1,948 |
| 9 years | $834 |
| 11 years | $3,615 |
| 13 years | $6,397 |
| 15 years | $9,179 |
| 17 years | $11,960 |
| 19 years | $14,742 |
| 21 years | $17,524 |
| 23 years | $20,305 |
| 25 years | $23,087 |
Top Solar Installers in Saugatuck
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Going with an installer can make switching to solar power much easier. Companies can also have access to various kinds of the best solar panels and help you pick which one will be best for you.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Saugatuck:
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 Saugatuck
Factors that Affect Solar Panel Costs in Saugatuck
There are many factors that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production require 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. 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar companies in Saugatuck offer solar loans, which reduce the initial cost of installing a solar system. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Saugatuck is the company you choose to install your solar system. As with choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $22,821 | 8.7 years |
| 8 kW | $2.87 | $16,051 | $30,743 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,822 | 8.4 years |
| 12 kW | $2.75 | $23,132 | $47,058 | 8.2 years |
| 14 kW | $2.70 | $26,436 | $55,452 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $64,003 | 7.9 years |
| 18 kW | $2.59 | $32,574 | $72,711 | 7.7 years |
| 20 kW | $2.53 | $35,406 | $81,577 | 7.6 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be difficult, we have some tips to help you, such as:
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, make sure to read it through fully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Installation Process: When going solar, it's essential to keep an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The brand of solar panel you want plays a part in which installer you should choose, since different companies have different panels.
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 Saugatuck, MI Solar Cost FAQs
How much does it cost to install solar panels in Saugatuck?
The average cost of solar panels in Saugatuck 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 certain factors like the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Saugatuck?
Leasing solar panels can be an option if you can't afford 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 property 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.
Do solar panels increase your home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Saugatuck is currently $201,766, which means you can expect a value of about $8,272 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Saugatuck is a fruitful investment.
What solar power system size is right for my home?
To figure out what solar panel system size 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 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.