Solar Panel Cost Guide in Cheboygan, MI (2024 Update)
- Cheboygan Solar Installation Cost: $17,634
- 25-Year Savings: $22,826
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Cheboygan
Find out what the average cost of installing solar panels is in Cheboygan.
The average cost of solar panels in Cheboygan is 4 per watt.The average Cheboygan homeowner needs a 6.2-kilowatt system, which would cost about $17,634 with the federal tax credit, or $25,217 before the 0 tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar will differ based on your household energy consumption, the type of equipment you choose, your solar contractor and more.For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Cheboygan
| Year | Return on Investment |
|---|---|
| 1 years | $-16,380 |
| 3 years | $-13,873 |
| 5 years | $-11,366 |
| 7 years | $-8,858 |
| 9 years | $-6,351 |
| 11 years | $-3,843 |
| 13 years | $-1,336 |
| 15 years | $1,171 |
| 17 years | $3,679 |
| 19 years | $6,186 |
| 21 years | $8,694 |
| 23 years | $11,201 |
| 25 years | $13,708 |
Top Solar Installers in Cheboygan
Although you can install solar panels by yourself, it takes extra effort and knowledge. That's one of the reasons the majority of homeowners choose a solar panel installer. Some solar installers, especially local ones, can help you make the most of incentives in Cheboygan, thereby optimizing your ROI.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Cheboygan
Factors that Affect Solar Panel Costs in Cheboygan
There are many factors that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
When it comes to estimating the price of a solar system in Cheboygan, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past power bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more in the long run on your energy bills. In addition, extra products, such as solar batteries, can bring your total well above the Cheboygan average.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are an affordable route because they reduce your upfront costs and let you pay for your system over a term of, on average, between five and seven years.It’s a good idea to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you choose will play a role in your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger names.
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 | $16,141 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,976 | 12.8 years |
| 10 kW | $4.06 | $28,420 | $28,038 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,328 | 12.3 years |
| 14 kW | $3.90 | $38,196 | $40,845 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,589 | 11.8 years |
| 18 kW | $3.74 | $47,064 | $54,561 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,760 | 11.3 years |
How to Save on Solar Panels
There are a large number of companies available in Cheboygan, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Though reading through a contract can be tedious, 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.
- Reputation: Well-established companies 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 quality aftercare and customer support, such as part repairs and replacements.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should acquire and how long the project will take.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one mark of a quality company.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Cheboygan, MI Solar Cost FAQs
What is the average cost of installing solar panels in Cheboygan?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Should I lease or buy solar panels in Cheboygan?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside 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 incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Cheboygan?
Solar panels can be a good investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.