Solar Panel Cost Guide in Silver Creek, MI (2023 Update)
- Silver Creek Solar Installation Cost: $11,795
- 25-Year Savings: $19,235
- Payback Period: 9.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Silver Creek
Find out what the average cost of installing solar panels is in Silver Creek.
While the national average of solar panels is $2.66 per watt, solar panels in Silver Creek generally cost about 2.81. The average solar panel system size in Silver Creek is around 6.0 kilowatts, meaning a cost of about $11,802 for a solar installation, or $16,877 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy consumption, 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 Silver Creek can save about $20,000 on their electricity bills over 20 years.
For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Silver Creek
| Year | Return on Investment |
|---|---|
| 1 years | $-10,556 |
| 3 years | $-8,078 |
| 5 years | $-5,599 |
| 7 years | $-3,121 |
| 9 years | $-643 |
| 11 years | $1,835 |
| 13 years | $4,313 |
| 15 years | $6,791 |
| 17 years | $9,269 |
| 19 years | $11,747 |
| 21 years | $14,226 |
| 23 years | $16,704 |
| 25 years | $19,182 |
Top Solar Installers in Silver Creek
When going solar, many homeowners choose to hire a solar company since putting up solar panels yourself can be a difficult project. Solar warranties and repairs are typically included in the cost of installation when you go with a solar company as well, which can save you more money over time.
Working with a licensed solar installer can help you make the most of your investment in solar. 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 Silver Creek
Factors that Affect Solar Panel Costs in Silver Creek
For many Silver Creek homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Silver Creek, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Silver Creek, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are an affordable route because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. It's a good idea to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a role in determining your pricing. Silver Creek'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 at a higher cost. It's best to do some research and choose a company that has the products, warranties and services you want 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 | $18,774 | 9.9 years |
| 8 kW | $2.87 | $16,051 | $25,347 | 9.7 years |
| 10 kW | $2.81 | $19,670 | $32,077 | 9.5 years |
| 12 kW | $2.75 | $23,132 | $38,964 | 9.3 years |
| 14 kW | $2.70 | $26,436 | $46,009 | 9.1 years |
| 16 kW | $2.64 | $29,584 | $53,211 | 8.9 years |
| 18 kW | $2.59 | $32,574 | $60,571 | 8.7 years |
| 20 kW | $2.53 | $35,406 | $68,088 | 8.6 years |
How to Save on Solar Panels
Since the type of solar panels and the installation company you choose considerably affects your costs and your system's durability and efficiency, 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: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
- Installation Process: Make sure you're on the same page with the installer with regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Warranty: Warranties that provide coverage for replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a quality company.
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 Silver Creek, MI Solar Cost FAQs
How much does it cost to install solar panels in Silver Creek?
The average cost of solar panels in Silver Creek is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
What other factors should I consider in addition to cost when buying solar panels?
Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels completely eradicate my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Silver Creek, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.