Solar Panel Cost Guide in Schoolcraft, MI (2024 Update)
- Schoolcraft Solar Installation Cost: $17,318
- 25-Year Savings: $19,756
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Schoolcraft
Find out how much it might cost to make the switch to solar in Schoolcraft.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Schoolcraft, the average cost of a solar system is 4 per watt.Using this figure, a typical 6.1-kW system would cost about $17,318 before the 0 federal solar tax credit is applied.
How much you pay can be higher or lower than the average in Schoolcraft based on a variety of factors, such as the brand of solar panels you choose and the solar contractor you hire.For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Schoolcraft see about $20,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Schoolcraft
| Year | Return on Investment |
|---|---|
| 1 years | $-16,065 |
| 3 years | $-13,557 |
| 5 years | $-11,050 |
| 7 years | $-8,542 |
| 9 years | $-6,035 |
| 11 years | $-3,528 |
| 13 years | $-1,020 |
| 15 years | $1,487 |
| 17 years | $3,995 |
| 19 years | $6,502 |
| 21 years | $9,009 |
| 23 years | $11,517 |
| 25 years | $14,024 |
Top Solar Installers in Schoolcraft
Although it's possible to install solar panels yourself, it takes extra energy and handiness. That's why almost all homeowners choose to go with a solar panel installer. The expertise that solar companies provide can be invaluable as well, especially if you don’t quite know what type of solar equipment you need.
If you're on the hunt for a solar company in Schoolcraft, the EcoWatch team has organized a list of our top suggestions here:
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 Schoolcraft
Factors that Affect Solar Panel Costs in Schoolcraft
There are several factors that can play into your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be challenging. Solar loans are available from most installers in Schoolcraft, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you hire to handle your switch to renewable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Schoolcraft, and each can charge different amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.
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 | $13,519 | 14.2 years |
| 8 kW | $4.14 | $23,191 | $18,481 | 13.9 years |
| 10 kW | $4.06 | $28,420 | $23,669 | 13.6 years |
| 12 kW | $3.98 | $33,422 | $29,085 | 13.4 years |
| 14 kW | $3.90 | $38,196 | $34,728 | 13.1 years |
| 16 kW | $3.82 | $42,744 | $40,599 | 12.8 years |
| 18 kW | $3.74 | $47,064 | $46,697 | 12.5 years |
| 20 kW | $3.65 | $51,156 | $53,023 | 12.3 years |
How to Save on Solar Panels
There are a lot of companies available in Schoolcraft, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Contract: Before you sign a contract with a solar company, make sure you look it over 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: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Reputation: Your solar installer should have a good reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: If you’re worried about the longevity of your solar energy system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Schoolcraft, MI Solar Cost FAQs
How much does it cost to install solar panels in Schoolcraft?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Schoolcraft have a net metering program?
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 energy bills.
How long do solar panels last in Schoolcraft?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.