Solar Panel Cost Guide in Greenville, MI (2024 Update)
- Greenville 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 Greenville
Let’s have a look at the average cost of solar panels in Greenville.
In Greenville, solar panels cost about 4 per watt on average.Using this figure, a typical 6.1-kW system would cost about $17,474 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the return on investment for most homeowners is typically fruitful, with a net average savings of about $21,000 over 20 years on utility bills.
To see your potential ROI and connect with a local solar expert, click the button below.
Solar savings over time in Greenville
| 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 Greenville
Many homeowners choose to hire a solar installation company since installing solar panels yourself can be time-consuming. Companies can also provide access to quality options of the best solar panels and help you pick which one will be best for you.
If you’d like to make the switch to solar but still aren’t certain which solar system company to go with, here are our recommendations for providers near you:
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 Greenville
Factors that Affect Solar Panel Costs in Greenville
For many Greenville homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Greenville, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. 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 opt for the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your power bills. Additionally, add-on products, such as solar batteries, can bump up your total well above the Greenville average.
Solar Financing Terms
Most solar installers in Greenville provide solar loans, which reduce your upfront costs of installing a solar system.It’s a good idea to factor 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 the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you opt for to install your solar panel system can affect your pricing. Greenville’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies typically have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.
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
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Look through the contract terms closely to make sure you understand the cost breakdown, project completion timeline rebates and warranties.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running for years to come and save you money on part replacement and repairs.
- Installation Process: An important thing to understand when adopting solar energy 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 what the project timeline is.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
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 Greenville, MI Solar Cost FAQs
How much does it cost to install solar panels in Greenville?
The average cost of solar panels in Greenville 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Greenville?
Solar panels aren’t free in Greenville, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Do solar panels increase the value of your home?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Greenville is currently $235,036, so you could be looking at a value of about $9,636 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Greenville is a rewarding investment.
How long do solar panels last in Greenville?
Though 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 their energy production will have decreased significantly after that point. You can opt to replace them once you've had 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.