Solar Panel Cost Guide in Springfield, MI (2023 Update)
- Springfield Solar Installation Cost: $12,156
- 25-Year Savings: $13,890
- Payback Period: 11.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Springfield
Let's take a look at the average cost of solar in Springfield.
In Springfield, solar panels cost about 2.81 per watt on average. The average solar panel system size in Springfield is around 6.2 kilowatts, meaning a cost of about $12,156 for a solar installation, or $17,383 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on several factors, such as how many panels you need, your energy consumption and what company you go with. With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Springfield find going solar can pay off big.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Springfield
| Year | Return on Investment |
|---|---|
| 1 years | $-11,114 |
| 3 years | $-9,031 |
| 5 years | $-6,947 |
| 7 years | $-4,863 |
| 9 years | $-2,780 |
| 11 years | $-696 |
| 13 years | $1,388 |
| 15 years | $3,471 |
| 17 years | $5,555 |
| 19 years | $7,639 |
| 21 years | $9,722 |
| 23 years | $11,806 |
| 25 years | $13,890 |
Top Solar Installers in Springfield
Many homeowners choose to hire a solar panel company since trying to put up solar panels yourself can be challenging. Local solar companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
If you're on the hunt for a solar company in Springfield, we've compiled a list of our top suggestions here:
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 Springfield
Factors that Affect Solar Panel Costs in Springfield
Although the average cost of a solar system in Springfield is $12,156, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important 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 pay around $2,810 per kilowatt in Springfield. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Springfield offer solar loans, which reduce your upfront costs of installing solar panels. You'll have to consider the long-term cost of financing options, including the total interest you'll pay over the length of the loan. If you're only able to 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 APR could reduce your costs significantly.
Solar Panel Installation Company
The last major cost factor you should take into consideration is the installer you choose. Given the growing popularity of renewable energy solutions in Springfield, you'll have a great number of options to choose from, but each comes at various price points for labor and equipment. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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 | $13,024 | 12.1 years |
| 8 kW | $2.87 | $16,051 | $17,680 | 11.9 years |
| 10 kW | $2.81 | $19,670 | $22,494 | 11.7 years |
| 12 kW | $2.75 | $23,132 | $27,465 | 11.4 years |
| 14 kW | $2.70 | $26,436 | $32,593 | 11.2 years |
| 16 kW | $2.64 | $29,584 | $37,878 | 11.0 years |
| 18 kW | $2.59 | $32,574 | $43,321 | 10.7 years |
| 20 kW | $2.53 | $35,406 | $48,921 | 10.5 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading over your solar installer'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 component breaking or if the company goes out of business.
- Solar Panel Brands: The brand of solar panel you want plays a role in which company you should choose, since different companies offer different panels.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years likely offer quality solar panel installation and expertise.
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 Springfield, MI Solar Cost FAQs
What is the average cost of installing solar panels in Springfield?
The average cost of solar panels in Springfield 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 certain factors such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your goals for going solar. In cities 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.
Can solar panels significantly reduce my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Springfield, 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?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.