Solar Panel Cost Guide in Negaunee, MI (2024 Update)
- Negaunee Solar Installation Cost: $17,972
- 25-Year Savings: $35,400
- Payback Period: 9.4 Years
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Average Cost of Solar Panels in Negaunee
Find out what the average cost of a solar system is in Negaunee.
While the national average of solar panels is $2.66 per watt, solar panels in Negaunee generally cost around 4.Using this figure, a typical 6.3-kW system would cost about $17,972 before the 0 federal solar tax credit is applied.
These figures are just estimates, and the cost of going solar for you will differ based on your energy needs and what company you go with.With average savings of about $29,000 on utility bills over 20 years, many homeowners in Negaunee find going solar can be quite rewarding.
Click the button below to get connected to a reputable solar company in Negaunee for a customized estimate.
Solar savings over time in Negaunee
| Year | Return on Investment |
|---|---|
| 1 years | $-16,178 |
| 3 years | $-12,588 |
| 5 years | $-8,999 |
| 7 years | $-5,409 |
| 9 years | $-1,820 |
| 11 years | $1,769 |
| 13 years | $5,359 |
| 15 years | $8,948 |
| 17 years | $12,538 |
| 19 years | $16,127 |
| 21 years | $19,717 |
| 23 years | $23,306 |
| 25 years | $26,895 |
Top Solar Installers in Negaunee
Putting up solar panels by yourself can be a stressful undertaking, which is why using a solar installation company is a good option for many homeowners. Plus, if you’d like to maximize your investment in solar, going with a solar installer can help with that as well. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.
You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some nearby:
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 Negaunee
Factors that Affect Solar Panel Costs in Negaunee
Cost is usually one of the most important factors for homeowners who are considering investing in solar. There are a few key factors that affect your total cost in Negaunee: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Negaunee.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they lower your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your total costs, so it’s crucial to keep that in mind as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The final key cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Negaunee, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.The company’s size can sometimes play the most significant role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $27,654 | 9.8 years |
| 8 kW | $4.14 | $23,191 | $37,327 | 9.6 years |
| 10 kW | $4.06 | $28,420 | $47,228 | 9.4 years |
| 12 kW | $3.98 | $33,422 | $57,355 | 9.2 years |
| 14 kW | $3.90 | $38,196 | $67,710 | 9.0 years |
| 16 kW | $3.82 | $42,744 | $78,292 | 8.8 years |
| 18 kW | $3.74 | $47,064 | $89,102 | 8.6 years |
| 20 kW | $3.65 | $51,156 | $100,139 | 8.5 years |
How to Save on Solar Panels
There are a large number of companies available in Negaunee, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panels running for a long time and save you money on repairs and maintenance.
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: When looking over your solar installer’s contract, ask questions about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: The model of solar panel you’d like to install plays a part in which company you should choose, since different companies have access to different panels.
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 Negaunee, MI Solar Cost FAQs
What is the average cost of installing solar panels in Negaunee?
This is a difficult question to answer exactly, 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. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Negaunee?
Leasing solar panels can be an option if you can’t pay upfront or get a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your home value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and how much direct sunlight your roof gets.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to account for their typical energy usage.
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.