Solar Panel Cost Guide in Three Rivers, MI (Mar 2023)
- Three Rivers Solar Installation Cost: $11,959
- 25-Year Savings: $19,782
- Payback Period: 9.4 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Three Rivers
We go over average solar pricing in Three Rivers.
The average cost of a solar panel system in Three Rivers is 2.81 per watt. Using this figure, a typical 6.1-kW system would cost about $11,959 before the 30% federal solar 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 installing solar panels can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Three Rivers can save around $20,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized estimate.
Solar savings over time in Three Rivers
| Year | Return on Investment |
|---|---|
| 1 years | $-10,690 |
| 3 years | $-8,150 |
| 5 years | $-5,611 |
| 7 years | $-3,072 |
| 9 years | $-532 |
| 11 years | $2,007 |
| 13 years | $4,546 |
| 15 years | $7,086 |
| 17 years | $9,625 |
| 19 years | $12,164 |
| 21 years | $14,704 |
| 23 years | $17,243 |
| 25 years | $19,782 |
Top Solar Installers in Three Rivers
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make your switch to solar power much easier. Plus, if you're unsure what kind of solar panels and equipment you may need, a solar company can help you find the right equipment for you after a site survey and consultation.
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 Three Rivers
Factors that Affect Solar Panel Costs in Three Rivers
The cost of installing a solar system in Three Rivers can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Three Rivers. The model of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more costly. Further, 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 researching a solar system that's in your budget.
Solar Financing Terms
Most solar installers in Three Rivers provide solar loans, which reduce the initial cost of installing a solar system. When considering your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you go with to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar panel companies in Three Rivers, and each can charge different amounts for labor and equipment. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger companies.
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 | $19,035 | 9.8 years |
| 8 kW | $2.87 | $16,051 | $25,695 | 9.6 years |
| 10 kW | $2.81 | $19,670 | $32,512 | 9.4 years |
| 12 kW | $2.75 | $23,132 | $39,487 | 9.2 years |
| 14 kW | $2.70 | $26,436 | $46,619 | 9.0 years |
| 16 kW | $2.64 | $29,584 | $53,908 | 8.9 years |
| 18 kW | $2.59 | $32,574 | $61,354 | 8.7 years |
| 20 kW | $2.53 | $35,406 | $68,958 | 8.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, 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.
- Contract: Before you sign a contract with a solar installer, be sure to read it through carefully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what the warranty covers and what services you can expect from them.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you choose.
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 Three Rivers, MI Solar Cost FAQs
What is the average cost of installing solar panels in Three Rivers?
This is a hard question to answer precisely, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a crucial factor to consider, but whether it's the most important for you depends on why you decided to go 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.
Can you sell solar power back to the grid in Three Rivers?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future electricity bills.
How long do solar panels last in Three Rivers?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can decide to replace them after having 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.