Solar Panel Cost Guide in Eureka, MI (2024 Update)
- Eureka Solar Installation Cost: $17,474
- 25-Year Savings: $21,600
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Eureka
Find out how much it might cost to switch to solar power in Eureka.
The average cost of a solar panel system in Eureka is 4 per watt.The average solar panel system size in Eureka is around 6.1 kilowatts, meaning a cost of about $17,474 for a solar installation, or $24,988 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 consumption, the type of solar system you want to get, your solar contractor and more.For most homeowners, the upfront investment in solar is worth paying. On average Eureka homeowners see about $21,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Eureka
| Year | Return on Investment |
|---|---|
| 1 years | $-16,220 |
| 3 years | $-13,713 |
| 5 years | $-11,205 |
| 7 years | $-8,698 |
| 9 years | $-6,191 |
| 11 years | $-3,683 |
| 13 years | $-1,176 |
| 15 years | $1,332 |
| 17 years | $3,839 |
| 19 years | $6,346 |
| 21 years | $8,854 |
| 23 years | $11,361 |
| 25 years | $13,868 |
Top Solar Installers in Eureka
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a pain. Hiring a solar panel installer can make switching to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
If you're searching for a solar installer in Eureka, we've put together a list of our top suggestions here:
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 Eureka
Factors that Affect Solar Panel Costs in Eureka
There are many criteria that can influence your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Eureka, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can figure out by looking at past electricity bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are provided by most installers in Eureka, which can reduce, or in some cases eliminate, your upfront costs to make solar more accessible.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
The solar installation company you pick will impact your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Eureka have more knowledge about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $15,146 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,649 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,380 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,338 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,524 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $44,937 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,577 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,444 | 11.7 years |
How to Save on Solar Panels
There are numerous companies to choose from in Eureka, 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:
- Installation Process: Make sure you’re aligned with the company in regard to how the installation process will go and what needs to be done before your solar panel system is installed, such as updating your electrical system or roof.
- Contract: When reading over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios like a system component breaking or the company going out of business.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: If you care about the durability of your solar panels, making sure your company 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 Eureka, MI Solar Cost FAQs
What is the average cost of installing solar panels in Eureka?
This is a tough question to answer exactly, because the cost depends on many 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 other solar equipment or more efficient panels, or if you have above-average energy consumption. Conversely, you can spend less if you want a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Eureka?
Solar panels aren’t free in Eureka, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Eureka?
Whether or not solar panels are worth it depends on some different factors like local electricity rates and how much direct sunlight your roof gets.
How long do solar panels last in Eureka?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.