Solar Panel Cost Guide in Woodstock, MI (2023 Update)
- Woodstock Solar Installation Cost: $11,999
- 25-Year Savings: $23,023
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Woodstock
We break down average solar pricing in Woodstock.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Woodstock, the average cost of a solar system is 2.81 per watt. The average solar panel system size in Woodstock is around 6.1 kilowatts, meaning a cost of about $11,999 for a solar installation, or $17,159 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Woodstock homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. With typical savings of about $22,000 on energy bills over 20 years, many homeowners in Woodstock find installing solar panels can pay off big.
To get a free quote from a vetted solar installer in Woodstock, you can click the button below.
Solar savings over time in Woodstock
| Year | Return on Investment |
|---|---|
| 1 years | $-10,598 |
| 3 years | $-7,796 |
| 5 years | $-4,994 |
| 7 years | $-2,193 |
| 9 years | $609 |
| 11 years | $3,411 |
| 13 years | $6,213 |
| 15 years | $9,015 |
| 17 years | $11,816 |
| 19 years | $14,618 |
| 21 years | $17,420 |
| 23 years | $20,222 |
| 25 years | $23,023 |
Top Solar Installers in Woodstock
Putting up solar panels on your own can be a dangerous project, which is why using a solar installation company is a good option for many homeowners. A solar installer can also help save you money in the long run by providing warranties, repairs and part replacements.
Working with a licensed solar company can help your solar project go smoothly. Here are our recommendations:
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 Woodstock
Factors that Affect Solar Panel Costs in Woodstock
The cost of installing a solar system in Woodstock can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's important to accurately ascertain the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive 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 greater 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
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Woodstock, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. While solar loans make going solar more accessible for Woodstock homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Lastly, the company you choose to install your solar system can affect your pricing. Woodstock's solar companies all have different labor costs and add varying upcharges to equipment. Companies that 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 cost more. It's best to do some research and find a company that offers the products, warranties and services you want and also fits 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 | $22,173 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $29,879 | 8.7 years |
| 10 kW | $2.81 | $19,670 | $37,742 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,762 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $53,940 | 8.2 years |
| 16 kW | $2.64 | $29,584 | $62,275 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $70,767 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $79,417 | 7.7 years |
How to Save on Solar Panels
The company that does your solar 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:
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over around 25 years are the gold standard in the business, and offering such a warranty is one mark of a good company.
- 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: Each solar panel brand and type offers varying levels of quality, longevity and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
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 Woodstock, MI Solar Cost FAQs
How much does it cost to install solar panels in Woodstock?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Woodstock is currently $176,031, which means you can look forward to a value of about $7,217 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Woodstock is a rewarding investment.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a 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 get between 20 and 35 panels to cover 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.