Solar Panel Cost Guide in Raisinville, MI (2023 Update)
- Raisinville Solar Installation Cost: $17,071
- 25-Year Savings: $15,342
- Payback Period: 15.7 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Raisinville
See how much it might cost to go solar in Raisinville.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Raisinville, the average cost of a solar system is 2.81 per watt.The average solar panel system size in Raisinville is around 6.0 kilowatts, meaning a cost of about $11,822 for a solar installation, or $16,905 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you want to get, your solar contractor and more.Many homeowners find adopting solar power is a rewarding investment. The average homeowner in Raisinville can save around $17,000 on their energy bills over 20 years.
To receive a free quote from a pre-vetted solar installation company in Raisinville, you can click the button below.
Solar savings over time in Raisinville
| Year | Return on Investment |
|---|---|
| 1 years | $-15,734 |
| 3 years | $-13,060 |
| 5 years | $-10,386 |
| 7 years | $-7,713 |
| 9 years | $-5,039 |
| 11 years | $-2,365 |
| 13 years | $309 |
| 15 years | $2,982 |
| 17 years | $5,656 |
| 19 years | $8,330 |
| 21 years | $11,004 |
| 23 years | $13,677 |
| 25 years | $16,351 |
Top Solar Installers in Raisinville
Although you can install solar panels yourself, it takes extra energy and handiness. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you're unsure what type of solar panels and equipment you need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Raisinville:
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 Raisinville
Factors that Affect Solar Panel Costs in Raisinville
The cost of installing a solar system in Raisinville can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,810. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose 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 Raisinville average.
Solar Financing Terms
Most solar installers in Raisinville have solar loans, which reduce the initial cost of installing solar panels.It's wise to include 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 how long it'll take to pay off the loan.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Raisinville know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $9,393 | 16.3 years |
| 8 kW | $4.14 | $23,191 | $12,978 | 16.0 years |
| 10 kW | $4.06 | $28,420 | $16,791 | 15.7 years |
| 12 kW | $3.98 | $33,422 | $20,831 | 15.4 years |
| 14 kW | $3.90 | $38,196 | $25,099 | 15.1 years |
| 16 kW | $3.82 | $42,744 | $29,594 | 14.8 years |
| 18 kW | $3.74 | $47,064 | $34,317 | 14.5 years |
| 20 kW | $3.65 | $51,156 | $39,266 | 14.1 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 efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for years to come and save you money on part replacement and repairs.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Contract: Though reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely offer good-quality solar panel installation and expertise.
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 Raisinville, MI Solar Cost FAQs
How much does it cost to install solar panels in Raisinville?
This is a difficult question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Raisinville?
Leasing solar panels can be an appealing choice, as it often comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don't go 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 long do solar panels last in Raisinville?
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.