Solar Panel Cost Guide in Traverse City, MI (2024 Update)
- Traverse City Solar Installation Cost: $17,688
- 25-Year Savings: $17,882
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Traverse City
Find out what the average cost of a solar system is in Traverse City.
In Traverse City, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Traverse City, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs around $17,688, or $25,294 before the federal solar tax credit of 0 is applied.
These figures are just averages, and how much solar costs for you may differ based on your energy needs and what company you choose to go with.Many homeowners find adopting solar power is a sound investment. The average homeowner in Traverse City can save about $18,000 on their power bills over 20 years.
Click the button below to get connected to a reputable solar installer in Traverse City for a custom estimate.
Solar savings over time in Traverse City
| Year | Return on Investment |
|---|---|
| 1 years | $-16,434 |
| 3 years | $-13,927 |
| 5 years | $-11,419 |
| 7 years | $-8,912 |
| 9 years | $-6,405 |
| 11 years | $-3,897 |
| 13 years | $-1,390 |
| 15 years | $1,117 |
| 17 years | $3,625 |
| 19 years | $6,132 |
| 21 years | $8,640 |
| 23 years | $11,147 |
| 25 years | $13,654 |
Top Solar Installers in Traverse City
Many homeowners decide to hire a solar panel company since installing solar panels yourself can be a lot of work. Since solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some nearby:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Traverse City
Factors that Affect Solar Panel Costs in Traverse City
Although the average cost of a solar system in Traverse City is $17,688, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 spend about $4,060 per kilowatt in Traverse City.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Traverse City homeowners decide to finance their solar panel systems to make paying for solar more affordable.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can impact the cost. Traverse City’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. 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 | $11,306 | 15.3 years |
| 8 kW | $4.14 | $23,191 | $15,530 | 15.0 years |
| 10 kW | $4.06 | $28,420 | $19,981 | 14.7 years |
| 12 kW | $3.98 | $33,422 | $24,659 | 14.4 years |
| 14 kW | $3.90 | $38,196 | $29,565 | 14.1 years |
| 16 kW | $3.82 | $42,744 | $34,698 | 13.8 years |
| 18 kW | $3.74 | $47,064 | $40,058 | 13.5 years |
| 20 kW | $3.65 | $51,156 | $45,645 | 13.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you find the right company for you, here are some tips to keep in mind:
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected 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 research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
- Contract: Before you sign a contract with a solar company, 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 to do if a part breaks or malfunctions and what services you can expect from them.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Traverse City, MI Solar Cost FAQs
What is the average cost of installing solar panels in Traverse City?
The average cost of solar panels in Traverse City is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Traverse City?
Solar panels aren’t free in Traverse City, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Traverse City have a net metering program?
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 utility 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?
Though 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 replace them once you've had them for that long or you can keep using 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.