Solar Panel Cost Guide in Cambridge, MI (2024 Update)
- Cambridge Solar Installation Cost: $17,337
- 25-Year Savings: $23,023
- Payback Period: 12.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated February 03, 2024
Why you can trust EcoWatch
Average Cost of Solar Panels in Cambridge
Let’s have a look at the average cost of solar panels in Cambridge.
The national average cost of solar panels is $2.66 per watt, but in Cambridge it’s 4 per watt.Using this figure, a typical 6.1-kW system would cost about $17,337 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more.Even with the high initial cost, the average Cambridge homeowner can save about $22,000 on their energy bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar installer in Cambridge for a quote for your home.
Solar savings over time in Cambridge
Year | Return on Investment |
---|---|
1 years | $-16,083 |
3 years | $-13,576 |
5 years | $-11,068 |
7 years | $-8,561 |
9 years | $-6,053 |
11 years | $-3,546 |
13 years | $-1,039 |
15 years | $1,469 |
17 years | $3,976 |
19 years | $6,484 |
21 years | $8,991 |
23 years | $11,498 |
25 years | $14,006 |
Top Solar Installers in Cambridge
Many homeowners opt for a solar panel installer since installing solar panels yourself can be time-consuming. Solar installers provide key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some nearby:
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 Cambridge
Factors that Affect Solar Panel Costs in Cambridge
For many Cambridge homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Cambridge, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a variety of factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $4,060.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, higher efficiency could save you more over time on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Cambridge average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be a challenge. Solar loans are provided by most installers in Cambridge, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The solar panel installation company you select will affect your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Cambridge have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for that service. 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 | $16,713 | 12.9 years |
8 kW | $4.14 | $23,191 | $22,739 | 12.6 years |
10 kW | $4.06 | $28,420 | $28,992 | 12.4 years |
12 kW | $3.98 | $33,422 | $35,472 | 12.1 years |
14 kW | $3.90 | $38,196 | $42,180 | 11.9 years |
16 kW | $3.82 | $42,744 | $49,115 | 11.6 years |
18 kW | $3.74 | $47,064 | $56,277 | 11.4 years |
20 kW | $3.65 | $51,156 | $63,667 | 11.1 years |
How to Save on Solar Panels
There are many companies available in Cambridge, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar panel company. Make sure you understand how the installation process will go and the completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure you look it over completely so you understand the terms. Also, ask questions if you’re not certain about some of the terms, such as what to do if a component breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Warranty: If you care about the longevity of your solar panel system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Cambridge, MI Solar Cost FAQs
How much does it cost to install solar panels in Cambridge?
The average cost of solar panels in Cambridge is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Cambridge?
You can’t get solar panels for free in Cambridge. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Can you sell solar power back to the grid in Cambridge?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Cambridge?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down 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.