Solar Panel Cost Guide in Ypsilanti, MI (Mar 2023)
- Ypsilanti Solar Installation Cost: $12,058
- 25-Year Savings: $13,062
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Ypsilanti
Let's take a look at the average cost of solar in Ypsilanti.
The national average cost of solar panels is $2.66 per watt, but in Ypsilanti it's 2.81 per watt. To cover the typical energy needs of the average home in Ypsilanti, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,058, or $17,243 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy needs, the type of solar panels you choose, your solar contractor and more. But, after you've paid the initial cost of installation, the savings for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Ypsilanti
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-9,043 |
| 5 years | $-7,034 |
| 7 years | $-5,024 |
| 9 years | $-3,015 |
| 11 years | $-1,005 |
| 13 years | $1,005 |
| 15 years | $3,014 |
| 17 years | $5,024 |
| 19 years | $7,033 |
| 21 years | $9,043 |
| 23 years | $11,052 |
| 25 years | $13,062 |
Top Solar Installers in Ypsilanti
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your switch to solar power much easier. The expertise that solar companies offer can be invaluable as well, particularly if you aren't sure what kind of solar equipment you need.
Working with a licensed solar installer 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 Ypsilanti
Factors that Affect Solar Panel Costs in Ypsilanti
For many Ypsilanti homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Ypsilanti, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Ypsilanti. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you opt for the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more in the long run on your electric bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Ypsilanti average.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a solid route because they cut back your upfront costs and let you pay for your system over a term of, on average, between five and seven years. When estimating 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
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Ypsilanti is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for instance, there's no shortage of solar installers that provide a range of services at different costs. Larger national companies typically have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have 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 | $12,316 | 12.5 years |
| 8 kW | $2.87 | $16,051 | $16,737 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,314 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,049 | 11.8 years |
| 14 kW | $2.70 | $26,436 | $30,941 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $35,991 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,198 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,562 | 10.8 years |
How to Save on Solar Panels
There are a lot of 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:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project timeline rebates and warranties.
- Solar Panel Brands: Different companies carry various brands and types of panels. If you prefer a specific brand, make sure the solar company you're considering has it.
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
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 Ypsilanti, MI Solar Cost FAQs
How much does it cost to install solar panels in Ypsilanti?
The average cost of solar panels in Ypsilanti is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a key factor to consider, but whether it's the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Can solar panels eliminate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $819.68 per year.
How often do you have to replace solar panels?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.