Solar Panel Cost Guide in Boyne City, MI (2024 Update)
- Boyne City Solar Installation Cost: $16,942
- 25-Year Savings: $22,778
- Payback Period: 12.3 Years
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Average Cost of Solar Panels in Boyne City
Find out what the average cost of installing solar panels is in Boyne City.
The national average cost of solar panels is $2.66 per watt, but in Boyne City it’s 4 per watt.Since a 6.0-kW system is needed to cover the energy consumption of a typical home in Boyne City, the average price of going solar will be about $16,942 after claiming the federal solar tax credit of 0.
Bear in mind that the figures above are only estimates based on the average energy use of Boyne City homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.Despite the high upfront cost, the average Boyne City homeowner can save about $22,000 on their power bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a highly rated solar installation company in Boyne City, you can click the button below.
Solar savings over time in Boyne City
| Year | Return on Investment |
|---|---|
| 1 years | $-15,689 |
| 3 years | $-13,181 |
| 5 years | $-10,674 |
| 7 years | $-8,166 |
| 9 years | $-5,659 |
| 11 years | $-3,152 |
| 13 years | $-644 |
| 15 years | $1,863 |
| 17 years | $4,371 |
| 19 years | $6,878 |
| 21 years | $9,385 |
| 23 years | $11,893 |
| 25 years | $14,400 |
Top Solar Installers in Boyne City
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Hiring an installer can make your swap to solar power much easier. Some solar installers, especially local ones, can help you better understand incentives in Boyne City, thereby optimizing your ROI.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Boyne City
Factors that Affect Solar Panel Costs in Boyne City
For many Boyne City homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Boyne City, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,060. There are several different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar installers in Boyne City have solar loans, which reduce your upfront costs of installing solar.Even though solar loans make adopting solar energy more accessible for Boyne City homeowners, they can also increase the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Boyne City know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, 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 | $16,994 | 12.8 years |
| 8 kW | $4.14 | $23,191 | $23,113 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,460 | 12.3 years |
| 12 kW | $3.98 | $33,422 | $36,033 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $42,835 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $49,864 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,120 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,603 | 11.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, 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: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Even though there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Contract: Review the contract terms closely to make sure you understand the cost breakdown, project timeline incentives and warranties.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Boyne City, MI Solar Cost FAQs
What is the average cost of installing solar panels in Boyne City?
This is a difficult question to answer precisely, because the cost depends on a few different 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. You can expect to pay 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.
Is it better to lease or buy solar panels in Boyne City?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Do solar panels increase your home value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t go for 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 a solar system."
How often do you have to replace solar panels?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.