Solar Panel Cost Guide in Surrey, MI (2024 Update)
- Surrey Solar Installation Cost: $17,584
- 25-Year Savings: $21,521
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Surrey
Find out what the average cost of installing solar panels is in Surrey.
The average cost of a solar panel system in Surrey is 4 per watt.The average solar panel system size in Surrey is around 6.2 kilowatts, meaning a cost of about $17,584 for a solar installation, or $25,145 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Surrey homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $21,000 over 20 years on energy bills.
To get a free quote from a pre-vetted solar installation company in Surrey, you can click the button below.
Solar savings over time in Surrey
| Year | Return on Investment |
|---|---|
| 1 years | $-16,331 |
| 3 years | $-13,823 |
| 5 years | $-11,316 |
| 7 years | $-8,809 |
| 9 years | $-6,301 |
| 11 years | $-3,794 |
| 13 years | $-1,286 |
| 15 years | $1,221 |
| 17 years | $3,728 |
| 19 years | $6,236 |
| 21 years | $8,743 |
| 23 years | $11,251 |
| 25 years | $13,758 |
Top Solar Installers in Surrey
When making the switch to solar, many homeowners opt to use a solar installation company since handling can be a difficult project. Plus, if you’re not certain what brand of solar panels and equipment you may need, a solar installer can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Surrey
Factors that Affect Solar Panel Costs in Surrey
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Surrey.There are a lot of different solar panel brands and the one you choose also changes the cost. In many cases, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That’s why many Surrey homeowners choose to finance their solar panel systems to offset upfront costs.You’ll have to consider the long-term cost of financing options, including the amount of 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar installation company you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Companies that 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 with an above-average 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 | $4.22 | $17,734 | $14,937 | 13.6 years |
| 8 kW | $4.14 | $23,191 | $20,371 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $26,032 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $31,921 | 12.8 years |
| 14 kW | $3.90 | $38,196 | $38,037 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,380 | 12.3 years |
| 18 kW | $3.74 | $47,064 | $50,950 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $57,748 | 11.7 years |
How to Save on Solar Panels
There are numerous companies available in Surrey, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the best you can get in the business, and offering such a warranty is one sign of a quality company.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, 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 Surrey, MI Solar Cost FAQs
What is the average cost of installing solar panels in Surrey?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Surrey?
You can’t get solar panels for free in Surrey. 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 rather own your solar panels, you can finance them with a solar loan.
How will having solar panels impact my property value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Surrey is currently $169,903, which means you can expect a value of about $6,966 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Surrey is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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.