Solar Panel Cost Guide in Solon, MI (2023 Update)
- Solon Solar Installation Cost: $12,156
- 25-Year Savings: $22,348
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Solon
See how much it might cost to switch to solar power in Solon.
While the national average of solar panels is $2.66 per watt, solar panels in Solon typically cost about 2.81. To account for the typical energy needs of the average home in Solon, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,156, or $17,383 before the federal solar tax credit of 30% is applied.
These figures are just estimates, and the cost of going solar for you will most likely vary based on factors unique to your home and what company you choose to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Solon can save about $21,000 on their energy bills over 20 years.
To see your potential savings and connect with a local solar company, click the button below.
Solar savings over time in Solon
| Year | Return on Investment |
|---|---|
| 1 years | $-10,776 |
| 3 years | $-8,016 |
| 5 years | $-5,255 |
| 7 years | $-2,495 |
| 9 years | $266 |
| 11 years | $3,026 |
| 13 years | $5,786 |
| 15 years | $8,547 |
| 17 years | $11,307 |
| 19 years | $14,067 |
| 21 years | $16,828 |
| 23 years | $19,588 |
| 25 years | $22,348 |
Top Solar Installers in Solon
Many homeowners choose to use a solar installation company since installing solar panels on your own can be a labor-intensive endeavor. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run with their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Solon
Factors that Affect Solar Panel Costs in Solon
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Solon: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Solon. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Solon to be prohibitively expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a role in your total costs. There are about 3 solar panel companies operating in Solon, and each can charge different amounts for labor and equipment. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials 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 | $21,249 | 9.2 years |
| 8 kW | $2.87 | $16,051 | $28,647 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,202 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $43,915 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $51,785 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $59,812 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $67,997 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,339 | 7.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Contract: When looking over your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like EcoWatch.
- Solar Panel Brands: The model of solar panel you need to install plays a role in which installer you should choose, since different companies have different panels.
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 Solon, MI Solar Cost FAQs
What is the average cost of installing solar panels in Solon?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Are solar panels free in Solon?
A solar panel system isn't free in Solon, 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 further reduce the cost.
Can solar panels significantly reduce my power bills?
It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Solon, 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 check with a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power my home?
To figure out how many solar panels you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically 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.