Solar Panel Cost Guide in East Bay, MI (2024 Update)
- East Bay Solar Installation Cost: $17,958
- 25-Year Savings: $19,310
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in East Bay
Let’s take a look at the average cost of solar panels in East Bay.
In East Bay, solar panels cost about 4 per watt on average.To account for the typical energy usage of the average home in East Bay, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,958, or $25,680 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average East Bay homeowner. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $19,000 over 20 years on utility bills.
To get a free estimate from a vetted solar installation company in East Bay, you can click the button below.
Solar savings over time in East Bay
| Year | Return on Investment |
|---|---|
| 1 years | $-16,704 |
| 3 years | $-14,197 |
| 5 years | $-11,689 |
| 7 years | $-9,182 |
| 9 years | $-6,675 |
| 11 years | $-4,167 |
| 13 years | $-1,660 |
| 15 years | $848 |
| 17 years | $3,355 |
| 19 years | $5,862 |
| 21 years | $8,370 |
| 23 years | $10,877 |
| 25 years | $13,385 |
Top Solar Installers in East Bay
When going solar, many homeowners choose to go with a solar company since installing a solar system yourself can be a challenging project. The payback period on a solar system will vary depending on factors like your location and energy usage, but going with a solar installer can shorten that period. Your provider will be able to help you apply for incentives available in your area.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our recommendations for providers near you:
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 East Bay
Factors that Affect Solar Panel Costs in East Bay
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in East Bay: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The type of solar panels and equipment you want is another factor that will substantially affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment consists of more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are provided by most installers in East Bay, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of loans, including the total 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 securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can influence how much it costs. East Bay’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in East Bay have more knowledge about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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 | $12,403 | 14.7 years |
| 8 kW | $4.14 | $23,191 | $16,993 | 14.4 years |
| 10 kW | $4.06 | $28,420 | $21,809 | 14.1 years |
| 12 kW | $3.98 | $33,422 | $26,853 | 13.9 years |
| 14 kW | $3.90 | $38,196 | $32,124 | 13.6 years |
| 16 kW | $3.82 | $42,744 | $37,623 | 13.3 years |
| 18 kW | $3.74 | $47,064 | $43,349 | 13.0 years |
| 20 kW | $3.65 | $51,156 | $49,303 | 12.7 years |
How to Save on Solar Panels
There are a lot of companies available in East Bay, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: A high-quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 East Bay, MI Solar Cost FAQs
What is the average cost of installing solar panels in East Bay?
The average cost of solar panels in East Bay 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The initial cost is a very important 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 take into account are the quality and durability of your solar panels.
How will solar panels impact my 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 East Bay is currently $236,838, which means you can expect a value of about $9,710 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in East Bay is a fruitful investment.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house 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.