Solar Panel Cost Guide in Green Lake, MI (2024 Update)
- Green Lake Solar Installation Cost: $17,958
- 25-Year Savings: $19,440
- Payback Period: 14.1 Years
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Average Cost of Solar Panels in Green Lake
Find out what the average cost of solar panel installation is in Green Lake.
In Green Lake, solar panels cost about 4 per watt on average.The average Green Lake homeowner needs a 6.3-kilowatt system, which would cost about $17,958 with the federal tax credit, or $25,680 before the 0 tax credit is applied.
The actual price you pay can be above or below the average in Green Lake depending on a variety of factors, such as the model of solar panels you choose and the solar contractor you hire.Despite the large upfront cost, the average Green Lake homeowner can save around $19,000 on their energy bills over 20 years, which is one of the positives of solar.
To see your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Green Lake
| 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 Green Lake
When making the switch to solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a difficult project. Plus, warranties and repairs from your solar panel installer can protect your investment and bring down the cost of maintenance in the long run.
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 Green Lake
Factors that Affect Solar Panel Costs in Green Lake
For many Green Lake homeowners, the decision to install solar panels depends on cost. However, the range of solar installation costs can be quite wide in Green Lake, with typical prices between $20,000 to $40,000. There are a number of factors that significantly 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 few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better 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.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Green Lake, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is too expensive, solar loans are a solid choice because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.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 can only 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 APR could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Green Lake is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for example, there are plenty of solar installers that offer a range of services at different price points.Additionally, some companies in Green Lake 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 walking you through the whole process. 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 | $12,527 | 14.7 years |
| 8 kW | $4.14 | $23,191 | $17,158 | 14.4 years |
| 10 kW | $4.06 | $28,420 | $22,016 | 14.1 years |
| 12 kW | $3.98 | $33,422 | $27,101 | 13.8 years |
| 14 kW | $3.90 | $38,196 | $32,414 | 13.5 years |
| 16 kW | $3.82 | $42,744 | $37,954 | 13.2 years |
| 18 kW | $3.74 | $47,064 | $43,721 | 13.0 years |
| 20 kW | $3.65 | $51,156 | $49,716 | 12.7 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: An important thing to understand when adopting solar power is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
- Contract: Even though reading through a contract can take a lot of time, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
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 Green Lake, MI Solar Cost FAQs
How much does it cost to install solar panels in Green Lake?
This is a difficult 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 higher quality panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Can you get solar panels for free in Green Lake?
You can’t get solar panels for free in Green Lake. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Green Lake?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How long do solar panels last in Green Lake?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable 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 keep using 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.