Solar Panel Cost Guide in Tallmadge, MI (2023 Update)
- Tallmadge Solar Installation Cost: $11,664
- 25-Year Savings: $22,954
- Payback Period: 8.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Tallmadge
We break down average solar pricing in Tallmadge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Tallmadge, the typical cost of solar panels is 2.81 per watt. Using this figure, a typical 5.9-kW system would cost about $11,664 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Tallmadge homeowners. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor. But, after you've paid the upfront cost of installation, the return on investment for most homeowners is typically rewarding, with a net average savings of about $22,000 over 20 years on utility bills.
To get a free estimate from a pre-vetted solar installer in Tallmadge, you can click the button below.
Solar savings over time in Tallmadge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,280 |
| 3 years | $-7,510 |
| 5 years | $-4,741 |
| 7 years | $-1,971 |
| 9 years | $798 |
| 11 years | $3,568 |
| 13 years | $6,337 |
| 15 years | $9,107 |
| 17 years | $11,876 |
| 19 years | $14,646 |
| 21 years | $17,415 |
| 23 years | $20,185 |
| 25 years | $22,954 |
Top Solar Installers in Tallmadge
Although you can install solar panels by yourself, it involves extra time and know-how. That's why the majority of homeowners choose to hire a solar panel installer. The expertise that solar companies offer can be useful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
Working with a vetted solar installer can help you make the most of your investment in solar. 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 Tallmadge
Factors that Affect Solar Panel Costs in Tallmadge
There are many factors that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar energy system you need for your household, 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 about $2,810. The kind of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Tallmadge average.
Solar Financing Terms
If paying for a solar system out of pocket is too expensive, solar loans are an affordable option because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your overall costs, so it's vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases 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 role in determining the cost. Tallmadge's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 | $22,752 | 8.8 years |
| 8 kW | $2.87 | $16,051 | $30,651 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,707 | 8.4 years |
| 12 kW | $2.75 | $23,132 | $46,921 | 8.3 years |
| 14 kW | $2.70 | $26,436 | $55,292 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $63,820 | 7.9 years |
| 18 kW | $2.59 | $32,574 | $72,505 | 7.7 years |
| 20 kW | $2.53 | $35,406 | $81,348 | 7.6 years |
How to Save on Solar Panels
The solar installer you choose will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should keep in mind, such as:
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and be sure you understand what happens in scenarios like a system component breaking or if the company goes out of business.
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 Tallmadge, MI Solar Cost FAQs
How much does it cost to install solar panels in Tallmadge?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Tallmadge?
Leasing solar panels can be an option if you can't afford to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your home value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
Is going solar worth it?
Solar panels can be a beneficial investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already fairly low, solar panels might not be for you.
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 how much 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.