Solar Panel Cost Guide in Three Rivers, MI (2023 Update)
- Three Rivers Solar Installation Cost: $11,965
- 25-Year Savings: $19,777
- Payback Period: 9.4 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Three Rivers
We break down average solar pricing in Three Rivers.
In Three Rivers, solar panels cost about 2.81 per watt on average. To account for the typical energy usage of the average home in Three Rivers, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $11,959, or $17,101 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of going solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what installation company you go with. For most homeowners, the upfront cost of solar power is worth paying. On average homeowners in Three Rivers see about $20,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar panel company in your area for a customized estimate.
Solar savings over time in Three Rivers
| Year | Return on Investment |
|---|---|
| 1 years | $-10,711 |
| 3 years | $-8,204 |
| 5 years | $-5,696 |
| 7 years | $-3,189 |
| 9 years | $-682 |
| 11 years | $1,826 |
| 13 years | $4,333 |
| 15 years | $6,840 |
| 17 years | $9,348 |
| 19 years | $11,855 |
| 21 years | $14,363 |
| 23 years | $16,870 |
| 25 years | $19,377 |
Top Solar Installers in Three Rivers
Many homeowners choose to use a solar panel company since installing solar panels by yourself can be a labor-intensive endeavor. A solar company can also help save you money over time by offering warranties, repairs and part replacements.
If you're on the hunt for a solar company in Three Rivers, the EcoWatch team has put together a list of our top suggestions here:
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
For many Three Rivers homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Three Rivers, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Three Rivers, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by around $2,810 for each additional kilowatt you need. 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 over time on your power bills. In addition, add-on products, like solar batteries, can bump up your total well above the Three Rivers average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular choice because they lower your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of loans, 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 original 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
Finally, the company you opt for to install your solar panel system can impact how much it costs. Three Rivers' solar companies all have different labor costs and add varying upcharges to equipment. 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 cost more. It's best to do some research and find a company that offers 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 | $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 system installation will affect the warranties and brands you have access to, 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:
- Solar Panel Brands: The type of solar panel you'd like to install plays a part in which company you should opt for, since different companies provide different panels.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Contract: Before you sign a contract with a solar installer, make sure you read it through completely so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Installation Process: Get details from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
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
How much does it cost to install solar panels in Three Rivers?
This is a tough question to answer exactly, because the cost depends on a few different factors. Generally 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 go with a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Three Rivers?
The majority of states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
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.