Solar Panel Cost Guide in Schoolcraft, MI (Feb 2023)
- Schoolcraft Solar Installation Cost: $11,979
- 25-Year Savings: $19,763
- Payback Period: 9.4 Years
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Top Solar Installers in Schoolcraft
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Using a solar company can make converting to solar power much easier. Plus, if you'd like to maximize your investment in solar, using a solar company can help with that as well. Different providers can offer warranties, expertise on installation and sometimes even information on local incentives, rebates and net metering programs.
Working with a vetted solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Schoolcraft
Factors that Affect Solar Panel Costs in Schoolcraft
For many Schoolcraft homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Schoolcraft, with typical prices between $20,000 to $40,000. There are various factors that greatly influence the price you'll pay, which we'll go over below.
When it comes to estimating the price of a solar panel system in Schoolcraft, one of the most crucial 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 usage, which you can determine by looking at past power bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. The type of solar panels and equipment you choose is another factor that will significantly affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment consists of more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when researching a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Schoolcraft, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible. 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 finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
Lastly, the company you get to install your solar panels can affect the cost. Schoolcraft's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that provides the products, warranties and services you're looking for and also fits within 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||$18,979||9.8 years|
|8 kW||$2.87||$16,051||$25,621||9.6 years|
|10 kW||$2.81||$19,670||$32,419||9.4 years|
|12 kW||$2.75||$23,132||$39,375||9.3 years|
|14 kW||$2.70||$26,436||$46,488||9.1 years|
|16 kW||$2.64||$29,584||$53,759||8.9 years|
|18 kW||$2.59||$32,574||$61,187||8.7 years|
|20 kW||$2.53||$35,406||$68,773||8.5 years|
How to Save on Solar Panels
The solar installer you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should consider, including:
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you'd like plays a part in which company you should opt for, since different companies offer different panels.
- Contract: Before you sign a contract with a solar installer, be sure to look it over completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
EcoWatch's Schoolcraft, MI Solar Cost FAQs
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.