Solar Panel Cost Guide in Vergennes, MI (2023 Update)
- Vergennes Solar Installation Cost: $12,156
- 25-Year Savings: $23,148
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Vergennes
Find out what the average cost of solar panels are in Vergennes.
In Vergennes, solar panels cost about 2.81 per watt on average. Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
These figures are only averages, and your own solar costs will differ based on factors unique to your home and what company you go with. For many homeowners, the upfront cost of solar panels is worth paying. On average Vergennes homeowners see about $22,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in Vergennes for a personalized estimate.
Solar savings over time in Vergennes
| Year | Return on Investment |
|---|---|
| 1 years | $-10,744 |
| 3 years | $-7,920 |
| 5 years | $-5,095 |
| 7 years | $-2,271 |
| 9 years | $553 |
| 11 years | $3,378 |
| 13 years | $6,202 |
| 15 years | $9,026 |
| 17 years | $11,851 |
| 19 years | $14,675 |
| 21 years | $17,500 |
| 23 years | $20,324 |
| 25 years | $23,148 |
Top Solar Installers in Vergennes
Many homeowners opt for a solar panel company since trying to put up solar panels on your own can be challenging. The payback period of solar panels will vary depending on factors like your location and energy consumption, but working with a solar company can shorten that period. Your provider will be able to help you identify incentives available in your area.
There are a number of 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 Vergennes
Factors that Affect Solar Panel Costs in Vergennes
Though the average cost of a solar system in Vergennes is $12,156, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are several different solar panel brands and the one you pick also changes the cost. Typically, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you choose can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are an affordable choice because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also adds to your all-in costs, so it's crucial to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar system can impact your pricing. Vergennes' solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $22,027 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $29,683 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,498 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,469 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $53,598 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,885 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $70,328 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,929 | 7.7 years |
How to Save on Solar Panels
The company that does your system 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 tough decision, we have some tips to help you, such as:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer's reputation is by reading reviews.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
- Warranty: If you're concerned about the longevity of your solar panel 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
EcoWatch's Vergennes, MI Solar Cost FAQs
How much does it cost to install solar panels in Vergennes?
The average cost of solar panels in Vergennes is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Vergennes?
You can't get solar panels for free in Vergennes. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase your home value considerably as long as you buy or finance your panels and don't choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing solar panels."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is 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 amount 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.