Solar Panel Cost Guide in Scio, MI (2024 Update)
- Scio Solar Installation Cost: $17,419
- 25-Year Savings: $17,389
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Scio
Find out what the average cost of solar panels are in Scio.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Scio, the typical cost of a solar system is 4 per watt.The average solar panel system size in Scio 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.
The true cost of your system can go higher or lower than the average in Scio depending on a variety of factors, such as the kind of solar panels you choose and the solar contractor you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically good, with a net average savings of about $16,000 over 20 years on power bills.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Scio
| 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 Scio
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Taking advantage of an installer can make switching to solar power much easier. The payback period on a solar system will vary based on factors like your location and energy consumption, but going with a solar installer can shorten it. Your provider will be able to help you identify incentives available in your area.
If you’d like to go solar but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Scio
Factors that Affect Solar Panel Costs in Scio
The cost of installing a solar system in Scio can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar system in Scio, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.The kind of solar panels and equipment you choose is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment consists of more than just the solar panels themselves. You’ll also need to think 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 searching for a solar system that’s in your budget.
Solar Financing Terms
If paying for a solar system out of pocket is difficult, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your overall costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Scio is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for instance, there are plenty of solar installers that provide a range of services at different price points.The company’s size sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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
The solar installer you opt for will influence not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should consider, such as:
- Solar Panel Brands: The kind of solar panel you’d like to install plays a role in which company you should opt for, since different companies provide different panels.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, completion timeline rebates and warranties.
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: A quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Scio, MI Solar Cost FAQs
How much does it cost to install solar panels in Scio?
The average cost of solar panels in Scio is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you use.
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.
How much can I save on power bills after switching to solar?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Scio, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.