Solar Panel Cost Guide in Scio, MI (2023 Update)
- Scio Solar Installation Cost: $12,058
- 25-Year Savings: $13,062
- Payback Period: 12.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Scio
Find out what the average cost of a solar system is in Scio.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Scio, the typical cost of solar panels is 2.81 per watt. Using this figure, a typical 6.1-kW system would cost about $12,058 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will look different based on the amount of energy your home requires and what company you go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Scio can save about $16,000 on their energy bills over 20 years.
To get a free estimate from a vetted solar installer in Scio, you can click the button below.
Solar savings over time in Scio
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-9,043 |
| 5 years | $-7,034 |
| 7 years | $-5,024 |
| 9 years | $-3,015 |
| 11 years | $-1,005 |
| 13 years | $1,005 |
| 15 years | $3,014 |
| 17 years | $5,024 |
| 19 years | $7,033 |
| 21 years | $9,043 |
| 23 years | $11,052 |
| 25 years | $13,062 |
Top Solar Installers in Scio
When making the switch to solar, many homeowners decide to use a solar company since handling can be a time-consuming project. The expertise that solar installers provide can be invaluable as well, particularly if you don't quite know what kind of solar equipment you need.
Working with a licensed solar company 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 Scio
Factors that Affect Solar Panel Costs in Scio
There are many factors that can determine your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your energy bills. In addition, extra products, like solar batteries, can bump up your total well above the Scio average.
Solar Financing Terms
Most solar installers in Scio have solar loans, which reduce the initial cost of installing solar. 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 securing a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can influence how much you pay. Scio's solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.
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 | $12,316 | 12.5 years |
| 8 kW | $2.87 | $16,051 | $16,737 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,314 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,049 | 11.8 years |
| 14 kW | $2.70 | $26,436 | $30,941 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $35,991 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,198 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,562 | 10.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose greatly influences your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The type of solar panel you want plays a part in which installer you should go with, since different companies have access to different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: It's important to read through your solar installer's contract well to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
- Warranty: Each company may offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
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 Scio, MI Solar Cost FAQs
What is the average cost of installing solar panels in Scio?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Scio is currently $355,335, so you could be looking at a value of about $14,569 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Scio is a fruitful investment.
How long do solar panels last in Scio?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.