Solar Panel Cost Guide in Taylor, MI (2023 Update)
- Taylor Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Taylor
Let's take a look at the average cost of solar panels in Taylor.
Although the national average of solar panels is $2.66 per watt, solar panels in Taylor generally cost around 2.81. To cover the typical energy needs of the average home in Taylor, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $12,038, or $17,214 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The exact cost of installing solar panels can vary quite a bit based on a few factors, such as how many panels you need, your energy usage and what company you go with. Many homeowners find installing a solar system is a rewarding investment. The average homeowner in Taylor can save about $16,000 on their energy bills over 20 years.
To receive a free quote from a vetted solar installer in Taylor, you can click the button below.
Solar savings over time in Taylor
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-9,024 |
| 5 years | $-7,014 |
| 7 years | $-5,005 |
| 9 years | $-2,995 |
| 11 years | $-985 |
| 13 years | $1,024 |
| 15 years | $3,034 |
| 17 years | $5,043 |
| 19 years | $7,053 |
| 21 years | $9,063 |
| 23 years | $11,072 |
| 25 years | $13,082 |
Top Solar Installers in Taylor
Many homeowners opt for a solar installer since trying to put up solar panels on your own can be hard. Also, companies with a good reputation that are more expensive upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar panels. Here are our suggestions:
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 Taylor
Factors that Affect Solar Panel Costs in Taylor
Even though the average cost of a solar system in Taylor is $12,038, your actual cost may differ. There are many factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Taylor, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don't have a lot of space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Taylor homeowners opt to finance their solar panel systems to make paying for solar more affordable. 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'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 interest rate could reduce your costs significantly.
Solar Panel Installation Company
The solar panel installer you choose will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Taylor have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $2.92 | $12,274 | $12,373 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $16,812 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,408 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,162 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,073 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $36,141 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,367 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,750 | 10.8 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Although there are many options for which kind of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to get the job done well. Another way you can verify your installer's reputation is by reading reviews.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Taylor, MI Solar Cost FAQs
How much does it cost to install solar panels in Taylor?
The average cost of solar panels in Taylor 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will installing solar panels impact my home 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 Taylor is currently $96,300, so you can expect a value of about $3,948 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Taylor 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 usage and how much 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.