Solar Panel Cost Guide in Tyrone, MI (2024 Update)
- Tyrone Solar Installation Cost: $17,582
- 25-Year Savings: $16,346
- Payback Period: 15.4 Years
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Average Cost of Solar Panels in Tyrone
Find out what the average cost of solar panels are in Tyrone.
The average cost of a solar system in Tyrone is 4 per watt.To cover the typical energy usage of the average home in Tyrone, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,582, or $25,142 before the federal solar tax credit of 0 is applied.
The true cost of your system can be higher or lower than the average in Tyrone based on a variety of factors, such as the kind of solar panels you choose and the solar company you hire.Even with the significant initial cost, the average Tyrone homeowner can save about $18,000 on their energy bills over 20 years, which is one of the advantages of solar.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Tyrone
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Tyrone
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make swapping over to solar power much easier. Solar warranties and repairs are typically included in the cost of installation when you go with a solar contractor too, which can save you more money over time.
There are various licensed solar professionals that can take care of your solar installation project. 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Tyrone
Factors that Affect Solar Panel Costs in Tyrone
The cost of installing a solar system in Tyrone can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Tyrone, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.There are several different solar panel brands and the one you pick also changes the cost. In general, the brands that have better efficiency tend to also cost more. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a big investment. That’s why many Tyrone homeowners decide to finance their solar panel systems to make paying for solar more affordable.Even though solar loans make adopting solar energy more accessible for Tyrone homeowners, they can also raise the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can play a role in determining how much it costs. Tyrone’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $9,921 | 16.0 years |
| 8 kW | $4.14 | $23,191 | $13,683 | 15.7 years |
| 10 kW | $4.06 | $28,420 | $17,672 | 15.4 years |
| 12 kW | $3.98 | $33,422 | $21,889 | 15.1 years |
| 14 kW | $3.90 | $38,196 | $26,332 | 14.8 years |
| 16 kW | $3.82 | $42,744 | $31,004 | 14.5 years |
| 18 kW | $3.74 | $47,064 | $35,902 | 14.2 years |
| 20 kW | $3.65 | $51,156 | $41,028 | 13.9 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: If you’re worried about the durability of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Tyrone, MI Solar Cost FAQs
How much does it cost to install solar panels in Tyrone?
This is a difficult question to answer exactly, because the cost depends on a variety of 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 other 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 opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Tyrone?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most financial benefits from going solar.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Tyrone is currently $335,886, which means you can expect a value of about $13,771 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Tyrone is a worthwhile investment.
How often do you have to replace solar panels?
Even 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 the amount of 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 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.