Solar Panel Cost Guide in Thetford, MI (2024 Update)
- Thetford Solar Installation Cost: $17,718
- 25-Year Savings: $17,273
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Thetford
Here’s how much it might cost to switch to solar power in Thetford.
The national average cost of solar panels is $2.66 per watt, but in Thetford it’s 4 per watt.The average solar panel system size in Thetford is around 6.2 kilowatts, meaning a cost of about $17,718 for a solar installation, or $25,337 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on your specific situation and what company you choose to go with.Many homeowners find installing a solar panel system is a solid investment. The average homeowner in Thetford can save around $18,000 on their energy bills over 20 years.
To receive a free estimate from a pre-vetted solar installer in Thetford, you can click the button below.
Solar savings over time in Thetford
| Year | Return on Investment |
|---|---|
| 1 years | $-16,464 |
| 3 years | $-13,957 |
| 5 years | $-11,449 |
| 7 years | $-8,942 |
| 9 years | $-6,434 |
| 11 years | $-3,927 |
| 13 years | $-1,420 |
| 15 years | $1,088 |
| 17 years | $3,595 |
| 19 years | $6,103 |
| 21 years | $8,610 |
| 23 years | $11,117 |
| 25 years | $13,625 |
Top Solar Installers in Thetford
Although you can install solar panels yourself, it requires extra energy and handiness. That's one of the reasons the majority of homeowners choose a solar panel installer. Local solar installers can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by providing warranties and repairs.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Thetford
Factors that Affect Solar Panel Costs in Thetford
The cost of installing a solar system in Thetford can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The type of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Most solar installers in Thetford offer solar loans, which reduce your upfront costs of installing a solar system.However, the interest on solar loans also increases your total costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect your pricing. Thetford’s solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally cost more. It’s best to do some research and decide on the company that has the products, warranties and services you’re looking for and also fit into 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 | $10,692 | 15.6 years |
| 8 kW | $4.14 | $23,191 | $14,711 | 15.3 years |
| 10 kW | $4.06 | $28,420 | $18,957 | 15.0 years |
| 12 kW | $3.98 | $33,422 | $23,431 | 14.7 years |
| 14 kW | $3.90 | $38,196 | $28,131 | 14.4 years |
| 16 kW | $3.82 | $42,744 | $33,060 | 14.1 years |
| 18 kW | $3.74 | $47,064 | $38,215 | 13.8 years |
| 20 kW | $3.65 | $51,156 | $43,598 | 13.5 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. Since picking a company can be a challenge, we have some tips to help you, such as:
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies will have various brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline rebates and warranties.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one sign of a good company.
EcoWatch's Thetford, MI Solar Cost FAQs
What is the average cost of installing solar panels in Thetford?
This is a hard question to answer precisely, because the cost depends on a few different 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
What other factors should I consider other than cost when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Does Thetford have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future utility bills.
How long do solar panels last in Thetford?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.