Solar Panel Cost Guide in Somerset, MI (2023 Update)
- Somerset Solar Installation Cost: $11,959
- 25-Year Savings: $23,103
- Payback Period: 8.5 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Somerset
See how much it might cost to make the switch to solar in Somerset.
In Somerset, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.1-kW system would cost about $11,959 before the 30% federal solar tax credit is applied.
These figures are just averages, and the cost of going solar for you will most likely differ based on the amount of energy your home requires and what company you want to go with. With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Somerset find going solar has a decent ROI.
Click the button below to get connected to a vetted solar installer in your area for a personalized quote.
Solar savings over time in Somerset
| Year | Return on Investment |
|---|---|
| 1 years | $-10,557 |
| 3 years | $-7,752 |
| 5 years | $-4,947 |
| 7 years | $-2,142 |
| 9 years | $663 |
| 11 years | $3,468 |
| 13 years | $6,273 |
| 15 years | $9,078 |
| 17 years | $11,883 |
| 19 years | $14,688 |
| 21 years | $17,493 |
| 23 years | $20,298 |
| 25 years | $23,103 |
Top Solar Installers in Somerset
Installing solar panels by yourself can be a difficult task, which is why getting a solar installation company is a good option for many homeowners. Some solar companies, particularly local ones, can help you make the most of incentives in Somerset, therefore optimizing your ROI.
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 Somerset
Factors that Affect Solar Panel Costs in Somerset
For many Somerset homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Somerset, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of solar panels in Somerset, 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 $2,810 for each additional kilowatt you need. The kind of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Further, solar equipment is more than just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be difficult. Solar loans are provided by most installers in Somerset, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also adds to your overall costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can play a part in determining how much it costs. Somerset's solar companies all have different labor costs and add varying upcharges to equipment. Some companies 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 go with the company that has the products, warranties and services you're looking for and also is 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 | $22,300 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $30,049 | 8.7 years |
| 10 kW | $2.81 | $19,670 | $37,954 | 8.5 years |
| 12 kW | $2.75 | $23,132 | $46,017 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $54,237 | 8.2 years |
| 16 kW | $2.64 | $29,584 | $62,615 | 8.0 years |
| 18 kW | $2.59 | $32,574 | $71,150 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $79,842 | 7.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar installer, be sure to read it through completely so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to do the job well. Another way you can look into your installer's reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of options before deciding.
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 Somerset, MI Solar Cost FAQs
How much does it cost to install solar panels in Somerset?
The average cost of solar panels in Somerset is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on stuff like the model of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Somerset?
Leasing solar panels can be an appealing choice, because it commonly comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better way to go if you want to get the most savings.
Is it worth going solar in Somerset?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How long do solar panels last in Somerset?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to 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.