Solar Panel Cost Guide in Schoolcraft, MI (2023 Update)
- Schoolcraft Solar Installation Cost: $11,979
- 25-Year Savings: $19,763
- Payback Period: 9.4 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Schoolcraft
Let's have a look at the average cost of solar in Schoolcraft.
In Schoolcraft, solar panels cost about 2.81 per watt on average. To account for the typical energy usage of the average home in Schoolcraft, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,979, or $17,130 before the federal solar tax credit of 30% 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 needs, the type of solar system you want, your solar contractor and more. Many homeowners find adopting solar power is a solid investment. The average homeowner in Schoolcraft can save around $20,000 on their energy bills over 20 years.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Schoolcraft
| Year | Return on Investment |
|---|---|
| 1 years | $-10,709 |
| 3 years | $-8,170 |
| 5 years | $-5,631 |
| 7 years | $-3,091 |
| 9 years | $-552 |
| 11 years | $1,987 |
| 13 years | $4,527 |
| 15 years | $7,066 |
| 17 years | $9,605 |
| 19 years | $12,145 |
| 21 years | $14,684 |
| 23 years | $17,223 |
| 25 years | $19,763 |
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:
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 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.
Solar Equipment
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.
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 Schoolcraft, MI Solar Cost FAQs
What is the average cost of installing solar panels in Schoolcraft?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Schoolcraft?
Solar panels aren't free in Schoolcraft, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Can you sell solar power back to the grid in Schoolcraft?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.