Solar Panel Cost Guide in Summit, MI (2024 Update)
- Summit Solar Installation Cost: $17,403
- 25-Year Savings: $22,451
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Summit
We go over average solar pricing in Summit.
Although the national average of solar panels is $2.66 per watt, solar panels in Summit typically cost about 4.The average Summit homeowner needs a 6.1-kilowatt system, which would cost about $17,403 with the federal tax credit, or $24,886 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The actual cost of going solar can vary based on multiple factors, such as what size system you need, your energy usage and what installation company you go with.With typical savings of about $21,000 on power bills over 20 years, many homeowners in Summit find installing solar panels can pay off big.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Summit
| Year | Return on Investment |
|---|---|
| 1 years | $-16,149 |
| 3 years | $-13,642 |
| 5 years | $-11,135 |
| 7 years | $-8,627 |
| 9 years | $-6,120 |
| 11 years | $-3,612 |
| 13 years | $-1,105 |
| 15 years | $1,402 |
| 17 years | $3,910 |
| 19 years | $6,417 |
| 21 years | $8,925 |
| 23 years | $11,432 |
| 25 years | $13,939 |
Top Solar Installers in Summit
Although you can install solar panels yourself, it takes extra time and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Companies can also offer access to various kinds of the best solar panels and help you choose which one will be best for your home.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some in Summit:
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 Summit
Factors that Affect Solar Panel Costs in Summit
For many Summit homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Summit, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Summit, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can gauge by looking at past electricity bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.There are a lot of different solar panel brands and the one you choose also changes the cost. In general, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install 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
Many homeowners find the average cost of solar in Summit to be prohibitively steep, even if the investment pays off over time. Thankfully, almost every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in a higher cost over time because of interest.Although solar loans make adopting solar energy more accessible for Summit homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you get to install your solar system can play a part in determining how much you pay. Summit’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Summit know more about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,066 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,876 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,914 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,179 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,671 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,390 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $54,337 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,511 | 11.4 years |
How to Save on Solar Panels
There are numerous companies available in Summit, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: The brand of solar panel you’d like to install plays a role in which installer you should opt for, since different companies provide different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Contract: Review the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline rebates and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one indication of a quality company.
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 Summit, MI Solar Cost FAQs
What is the average cost of installing solar panels in Summit?
The average cost of solar panels in Summit 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 certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Summit?
You can’t get solar panels for free in Summit. However, you may still be able to afford 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 having solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Summit is currently $210,653, so you can look forward to a value of about $8,637 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Summit is a fruitful investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can 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 cover 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.