Solar Panel Cost Guide in Iosco, MI (2024 Update)
- Iosco Solar Installation Cost: $17,582
- 25-Year Savings: $16,939
- Payback Period: 15.1 Years
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Average Cost of Solar Panels in Iosco
Find out how much it might cost to install solar panels in Iosco.
The national average cost of solar panels is $2.66 per watt, but in Iosco it’s 4 per watt.Using this figure, a typical 6.2-kW system would cost about $17,582 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Iosco homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.With average savings of about $18,000 on electricity bills over 20 years, many homeowners in Iosco find investing in solar has a decent ROI.
To calculate your potential savings and connect with a local solar installer, click the button below.
Solar savings over time in Iosco
| Year | Return on Investment |
|---|---|
| 1 years | $-16,328 |
| 3 years | $-13,821 |
| 5 years | $-11,313 |
| 7 years | $-8,806 |
| 9 years | $-6,299 |
| 11 years | $-3,791 |
| 13 years | $-1,284 |
| 15 years | $1,224 |
| 17 years | $3,731 |
| 19 years | $6,238 |
| 21 years | $8,746 |
| 23 years | $11,253 |
| 25 years | $13,761 |
Top Solar Installers in Iosco
Although you can install solar panels on your own, it takes extra energy and knowledge. That's one of the reasons the majority of homeowners choose to hire a solar panel installer. Also, companies with an outstanding reputation that are more expensive upfront could actually save you money in the long term because of their warranties, repair services and expert design.
If you're on the hunt for a solar company in Iosco, we've organized 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 Iosco
Factors that Affect Solar Panel Costs in Iosco
Cost is typically one of the most important factors for homeowners considering investing in solar. There are a few key factors that will push your cost above or below the average in Iosco: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater efficiency or power production use better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The 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. However, higher efficiency could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Iosco average.
Solar Financing Terms
Many homeowners find the average cost of solar in Iosco to be too costly, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.However, the interest on solar loans also increases your all-in costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
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 Iosco is the company you get to install your solar panel system. As with choosing a company to build a deck or pool, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $10,496 | 15.7 years |
| 8 kW | $4.14 | $23,191 | $14,450 | 15.4 years |
| 10 kW | $4.06 | $28,420 | $18,631 | 15.1 years |
| 12 kW | $3.98 | $33,422 | $23,039 | 14.8 years |
| 14 kW | $3.90 | $38,196 | $27,674 | 14.5 years |
| 16 kW | $3.82 | $42,744 | $32,537 | 14.2 years |
| 18 kW | $3.74 | $47,064 | $37,628 | 13.9 years |
| 20 kW | $3.65 | $51,156 | $42,945 | 13.6 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 find the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you go with.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
- Warranty: A comprehensive, long-term warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
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 Iosco, MI Solar Cost FAQs
What is the average cost of installing solar panels in Iosco?
The average cost of solar panels in Iosco is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Iosco?
A solar panel system isn’t free in Iosco, 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 you can take advantage of.
Is going solar worth it?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your power bills are already pretty low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.