Solar Panel Cost Guide in Spring Lake, MI (2024 Update)
- Spring Lake Solar Installation Cost: $16,853
- 25-Year Savings: $22,840
- Payback Period: 12.2 Years
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Average Cost of Solar Panels in Spring Lake
We go over average solar pricing in Spring Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in Spring Lake typically cost about 4.The average solar panel system size in Spring Lake is around 5.9 kilowatts, meaning a cost of about $16,853 for a solar installation, or $24,100 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar system you choose, your solar contractor and more.Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Spring Lake can save about $22,000 on their power bills over 20 years.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Spring Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-15,600 |
| 3 years | $-13,092 |
| 5 years | $-10,585 |
| 7 years | $-8,078 |
| 9 years | $-5,570 |
| 11 years | $-3,063 |
| 13 years | $-555 |
| 15 years | $1,952 |
| 17 years | $4,459 |
| 19 years | $6,967 |
| 21 years | $9,474 |
| 23 years | $11,982 |
| 25 years | $14,489 |
Top Solar Installers in Spring Lake
When going solar, many homeowners opt to hire a solar installation company since overseeing your solar installation yourself can be a challenging project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor too, which can save you more money after your upfront investment.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Spring Lake
Factors that Affect Solar Panel Costs in Spring Lake
There are many factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. There are many different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Plus, the type of equipment you choose can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Spring Lake to be prohibitively steep, even if the investment pays off over time. Thankfully, nearly every solar company in the area provides financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time due to interest.However, the interest on solar loans also adds to your overall costs, so it’s crucial to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Spring Lake, and each can charge different amounts for labor and equipment.You may see national solar installers that have lower prices because of their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $17,177 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,357 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,764 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,399 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,262 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,352 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,669 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,213 | 11.0 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Warranty: If you’re concerned about the endurance of your solar system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which model of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before making your decision.
- Reputation: Long-standing companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Spring Lake, MI Solar Cost FAQs
What is the average cost of installing solar panels in Spring Lake?
The average cost of solar panels in Spring Lake is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Spring Lake?
You can’t get solar panels for free in Spring Lake. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d prefer to own your solar panels, you can finance them with a solar loan.
How will solar panels impact my home value?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home 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.