Solar Panel Cost Guide in Homer, MI (2024 Update)
- Homer Solar Installation Cost: $17,459
- 25-Year Savings: $23,220
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Homer
Find out what the average cost of a solar system is in Homer.
The national average cost of solar panels is $2.66 per watt, but in Homer it’s 4 per watt.The average solar panel system size in Homer is around 6.1 kilowatts, meaning a cost of about $17,459 for a solar installation, or $24,966 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The actual cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy usage and what installation company you go with.But, once you've paid the initial cost of installation, the payback for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
To see your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Homer
| Year | Return on Investment |
|---|---|
| 1 years | $-16,206 |
| 3 years | $-13,698 |
| 5 years | $-11,191 |
| 7 years | $-8,684 |
| 9 years | $-6,176 |
| 11 years | $-3,669 |
| 13 years | $-1,161 |
| 15 years | $1,346 |
| 17 years | $3,853 |
| 19 years | $6,361 |
| 21 years | $8,868 |
| 23 years | $11,376 |
| 25 years | $13,883 |
Top Solar Installers in Homer
Many homeowners opt for a solar panel company since figuring out how to install solar panels yourself can be time-consuming. The payback period on a solar system will vary depending on factors like your location and energy consumption, but going with a solar installer can shorten that period. Your provider will be able to help you get the most out of incentives available in your area.
If you're looking for a solar company in Homer, we've compiled 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 Homer
Factors that Affect Solar Panel Costs in Homer
For many Homer homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Homer, with typical prices between $20,000 to $40,000. There are several factors that greatly 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 variety of factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with 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 panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Homer, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are provided by most installers in Homer, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can play a role in your total costs. There are about 3 solar installation companies operating throughout Homer, and each can charge varying amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and find a company that provides the products, warranties and services you’re looking for and also is within your budget.
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 | $16,746 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,783 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,047 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,539 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,258 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,204 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,377 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,778 | 11.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Solar Panel Brands: The type of solar panel you need plays a role in which installer you should go with, since different companies have different panels.
- Contract: Before you sign a contract with a solar installer, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
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 Homer, MI Solar Cost FAQs
How much does it cost to install solar panels in Homer?
This is a hard 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 extra solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Are solar panels free in Homer?
You can’t get solar panels for free in Homer. However, you may still be able to afford 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 Homer?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How long do solar panels last in Homer?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.