Solar Panel Cost Guide in Genoa, MI (2024 Update)
- Genoa Solar Installation Cost: $17,582
- 25-Year Savings: $16,071
- Payback Period: 16.5 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Genoa
Find out how much it might cost to install solar panels in Genoa.
In Genoa, solar panels cost about 4 per watt on average.The average solar panel system size in Genoa is around 6.2 kilowatts, meaning a cost of about $17,582 for a solar installation, or $25,142 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will look different based on your energy needs and what company you go with.For most homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $16,000 in savings on electricity bills over 20 years.
Click the button below to get connected to a vetted solar company in your area for a personalized estimate.
Solar savings over time in Genoa
| Year | Return on Investment |
|---|---|
| 1 years | $-16,236 |
| 3 years | $-13,543 |
| 5 years | $-10,851 |
| 7 years | $-8,159 |
| 9 years | $-5,467 |
| 11 years | $-2,774 |
| 13 years | $-82 |
| 15 years | $2,610 |
| 17 years | $5,302 |
| 19 years | $7,995 |
| 21 years | $10,687 |
| 23 years | $13,379 |
| 25 years | $16,071 |
Top Solar Installers in Genoa
Trying to install solar panels on your own can be a difficult project, which is why hiring a solar installation company is a good option for many homeowners. Companies can also offer access to quality options of the best solar panels and help you decide which one will be best for your family.
If you’d like to start using solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers in Genoa:
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 Genoa
Factors that Affect Solar Panel Costs in Genoa
For many Genoa homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in Genoa, with typical prices between $20,000 to $40,000. There are various factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar panel system in Genoa, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past power bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Genoa, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Genoa homeowners opt to finance their solar panel systems to make paying for solar more affordable.You’ll have to consider the long-term cost of financing options, 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 finding a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Lastly, the company you choose to install your solar panels can impact the cost. Genoa’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Genoa have more knowledge about local solar incentives and can help you take advantage of 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 | $8,040 | 17.2 years |
| 8 kW | $4.14 | $23,191 | $11,174 | 16.9 years |
| 10 kW | $4.06 | $28,420 | $14,536 | 16.5 years |
| 12 kW | $3.98 | $33,422 | $18,126 | 16.2 years |
| 14 kW | $3.90 | $38,196 | $21,942 | 15.9 years |
| 16 kW | $3.82 | $42,744 | $25,986 | 15.5 years |
| 18 kW | $3.74 | $47,064 | $30,258 | 15.2 years |
| 20 kW | $3.65 | $51,156 | $34,757 | 14.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years most likely provide good-quality solar panel installation and expertise.
- Warranty: If you’re worried about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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 Genoa, MI Solar Cost FAQs
How much does it cost to install solar panels in Genoa?
This is a hard 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 other solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Genoa?
Leasing solar panels can be an appealing choice, because it often 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.
Is it worth going solar in Genoa?
Whether or not solar panels are worth it depends on some different factors like how much you pay for electricity and the amount of direct sunlight your roof gets.
How long do solar panels last in Genoa?
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 the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had 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.