Solar Panel Cost Guide in Watertown, MI (2023 Update)
- Watertown Solar Installation Cost: $12,156
- 25-Year Savings: $21,381
- Payback Period: 9.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Watertown
We break down average solar pricing in Watertown.
Although the national average of solar panels is $2.66 per watt, solar panels in Watertown generally cost around 2.81. Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Watertown homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Many homeowners find going solar is a sound investment. The average homeowner in Watertown can save about $21,000 on their energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Watertown that can help you get a more accurate cost estimate for your home.
Solar savings over time in Watertown
| Year | Return on Investment |
|---|---|
| 1 years | $-10,815 |
| 3 years | $-8,132 |
| 5 years | $-5,449 |
| 7 years | $-2,766 |
| 9 years | $-83 |
| 11 years | $2,600 |
| 13 years | $5,283 |
| 15 years | $7,966 |
| 17 years | $10,649 |
| 19 years | $13,332 |
| 21 years | $16,015 |
| 23 years | $18,698 |
| 25 years | $21,381 |
Top Solar Installers in Watertown
Many homeowners decide to use a solar installation company since figuring out how to install solar panels by yourself can be challenging. Plus, if you're not certain what brand of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar company in Watertown, we've 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 Watertown
Factors that Affect Solar Panel Costs in Watertown
The cost of installing a solar system in Watertown can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, 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 energy system in Watertown, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your total cost can increase by about $2,810 for each additional kilowatt you need. The type of solar panels and equipment you want is another factor that will substantially influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Watertown have solar loans, which reduce your upfront costs of installing solar panels. 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 reduce the total interest paid over time.
Solar Panel Installation Company
The final significant cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Watertown, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Some companies 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 come at a higher cost. It's best to do some research and find a company that offers the products, warranties and services you're looking for and also is within 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 | $20,295 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,375 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,612 | 9.1 years |
| 12 kW | $2.75 | $23,132 | $42,006 | 8.9 years |
| 14 kW | $2.70 | $26,436 | $49,558 | 8.7 years |
| 16 kW | $2.64 | $29,584 | $57,267 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,134 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,158 | 8.2 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 find the right company for you, here are some tips to keep in mind:
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you're worried about the durability of your solar energy system, making sure your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years in most cases provide quality solar panel installation and expertise.
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 Watertown, MI Solar Cost FAQs
What is the average cost of installing solar panels in Watertown?
This is a hard question to answer exactly, because the cost depends on a variety of 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. You can expect to pay more if you want extra solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Watertown?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 savings from going solar.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.