Solar Panel Cost Guide in Vernon, MI (2024 Update)
- Vernon Solar Installation Cost: $17,642
- 25-Year Savings: $23,094
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Vernon
Find out what the average cost of installing solar panels is in Vernon.
Although the national average of solar panels is $2.66 per watt, solar panels in Vernon generally cost around 4.The average solar panel system size in Vernon is around 6.2 kilowatts, meaning a cost of about $17,642 for a solar installation, or $25,228 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will differ based on your specific situation and what company you choose to go with.But, after you've paid the initial cost of installation, the payback for most homeowners is usually good, with a net average savings of about $22,000 over 20 years on energy bills.
Click the button below to get connected to a vetted solar panel company in your area for a customized quote.
Solar savings over time in Vernon
| Year | Return on Investment |
|---|---|
| 1 years | $-16,388 |
| 3 years | $-13,880 |
| 5 years | $-11,373 |
| 7 years | $-8,866 |
| 9 years | $-6,358 |
| 11 years | $-3,851 |
| 13 years | $-1,343 |
| 15 years | $1,164 |
| 17 years | $3,671 |
| 19 years | $6,179 |
| 21 years | $8,686 |
| 23 years | $11,193 |
| 25 years | $13,701 |
Top Solar Installers in Vernon
Many homeowners decide to use a solar installer since trying to put up solar panels yourself can be a labor-intensive endeavor. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
Working with a licensed solar installer can help your solar project go smoothly. Here are our recommendations:
See all of the solar companies in Vernon
Factors that Affect Solar Panel Costs in Vernon
The cost of installing a solar system in Vernon can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Vernon, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Vernon 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 choose to go with 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 opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating throughout Vernon, and each can charge different amounts for labor and equipment.Additionally, some companies in Vernon are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,390 | 13.0 years |
| 8 kW | $4.14 | $23,191 | $22,308 | 12.7 years |
| 10 kW | $4.06 | $28,420 | $28,454 | 12.5 years |
| 12 kW | $3.98 | $33,422 | $34,827 | 12.2 years |
| 14 kW | $3.90 | $38,196 | $41,427 | 12.0 years |
| 16 kW | $3.82 | $42,744 | $48,255 | 11.7 years |
| 18 kW | $3.74 | $47,064 | $55,309 | 11.5 years |
| 20 kW | $3.65 | $51,156 | $62,592 | 11.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Solar Panel Brands: Different companies will carry various brands and kinds of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Contract: When reading through your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
EcoWatch's Vernon, MI Solar Cost FAQs
How much does it cost to install solar panels in Vernon?
This is a tough question to answer precisely, because the cost depends on many 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 be more expensive if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a key 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 trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Is it worth going solar in Vernon?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.