Solar Panel Cost Guide in Okemos, MI (2024 Update)
- Okemos Solar Installation Cost: $17,543
- 25-Year Savings: $17,783
- Payback Period: 14.7 Years
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Average Cost of Solar Panels in Okemos
We go over average solar pricing in Okemos.
In Okemos, solar panels cost about 4 per watt on average.The average solar panel system size in Okemos is around 6.2 kilowatts, meaning a cost of about $17,543 for a solar installation, or $25,086 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy consumption, the type of equipment you want to get, your solar contractor and more.But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $18,000 over 20 years on power bills.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Okemos
| Year | Return on Investment |
|---|---|
| 1 years | $-16,289 |
| 3 years | $-13,782 |
| 5 years | $-11,274 |
| 7 years | $-8,767 |
| 9 years | $-6,259 |
| 11 years | $-3,752 |
| 13 years | $-1,245 |
| 15 years | $1,263 |
| 17 years | $3,770 |
| 19 years | $6,278 |
| 21 years | $8,785 |
| 23 years | $11,292 |
| 25 years | $13,800 |
Top Solar Installers in Okemos
Although you can install solar panels yourself, it takes extra labor and know-how. For that reason, the majority of homeowners choose to go with a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you opt for a solar contractor too, which can save you more money over time.
Working with a licensed solar installer can help you make the most of your investment in solar. Here are our recommendations:
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 Okemos
Factors that Affect Solar Panel Costs in Okemos
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Okemos: 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 panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation need 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.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Okemos, 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Okemos to be prohibitively expensive, even if the investment pays off over time. Thankfully, almost every solar installer in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time due to interest.When considering your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Finally, the company you hire to install your solar panel system can impact the cost. Okemos’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 compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $11,353 | 15.2 years |
| 8 kW | $4.14 | $23,191 | $15,592 | 14.9 years |
| 10 kW | $4.06 | $28,420 | $20,058 | 14.7 years |
| 12 kW | $3.98 | $33,422 | $24,752 | 14.4 years |
| 14 kW | $3.90 | $38,196 | $29,673 | 14.1 years |
| 16 kW | $3.82 | $42,744 | $34,822 | 13.8 years |
| 18 kW | $3.74 | $47,064 | $40,198 | 13.5 years |
| 20 kW | $3.65 | $51,156 | $45,801 | 13.2 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you find the right company for you, here are some tips to keep in mind:
- 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 sign of a quality company.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer quality solar panel installation and expertise.
- Solar Panel Brands: Different companies have different brands and models of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Installation Process: An important thing to understand when going solar 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 secure and how long the project will take.
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 Okemos, MI Solar Cost FAQs
How much does it cost to install solar panels in Okemos?
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. It will cost more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a very important factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase your property’s value considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can 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 cover 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.