Solar Panel Cost Guide in Ray, MI (2024 Update)

  • Ray Solar Installation Cost: $17,270
  • 25-Year Savings: $13,167
  • Payback Period: 17.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Ray

Let’s take a look at the average cost of solar panels in Ray.

The national average cost of solar panels is $2.66 per watt, but in Ray it’s 4 per watt.The average solar panel system size in Ray is around 6.1 kilowatts, meaning a cost of about $17,270 for a solar installation, or $24,696 before the 0 federal solar tax credit is applied.

These figures are only estimates, and the cost of going solar for you will differ based on the amount of energy your home requires and what company you choose to go with.With typical savings of about $16,000 on utility bills over 20 years, many homeowners in Ray find installing solar panels has a decent ROI.

You can click the button below to get connected with a top solar company in Ray for a quote for your home.

Solar savings over time in Ray

Year Return on Investment
1 years $-15,878
3 years $-13,093
5 years $-10,308
7 years $-7,524
9 years $-4,739
11 years $-1,954
13 years $830
15 years $3,615
17 years $6,400
19 years $9,185
21 years $11,969
23 years $14,754
25 years $17,539

Top Solar Installers in Ray

Trying to put up solar panels by yourself can be a time-consuming undertaking, which is why getting a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Ray

Factors that Affect Solar Panel Costs in Ray

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that determine your overall cost in Ray: solar equipment and system size, financing options and the solar installation company you choose. We’ll discuss each of these briefly below.

Solar Equipment

When it comes to estimating the price of a solar energy system in Ray, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home’s energy usage, which you can determine by looking at past electricity bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.The model of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that falls within your budget.

Solar Financing Terms

Most solar companies in Ray have solar loans, which reduce the initial cost of installing solar.It’s a good idea to factor 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 back the loan.

Solar Panel Installation Company

The final key cost factor you should consider is the installer you choose. Given the booming popularity of clean energy solutions in Ray, you’ll have many options to choose from, but each comes at various price points 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 cost more. It’s best to do some research and choose a company that offers the products, warranties and services you’re looking for and also fits 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 $7,069 17.9 years
8 kW $4.14 $23,191 $9,880 17.5 years
10 kW $4.06 $28,420 $12,918 17.2 years
12 kW $3.98 $33,422 $16,184 16.8 years
14 kW $3.90 $38,196 $19,677 16.5 years
16 kW $3.82 $42,744 $23,397 16.2 years
18 kW $3.74 $47,064 $27,345 15.8 years
20 kW $3.65 $51,156 $31,520 15.5 years

How to Save on Solar Panels

There are a large number of companies available in Ray, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be difficult, so here are some tips to help you decide:

  • Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you go with.
  • Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
  • Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running smoothly and save you money on repairs and maintenance.
  • Contract: Look through the contract terms thoroughly to make sure you understand the total cost, completion timeline rebates and warranties.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Ray, MI Solar Cost FAQs

What is the average cost of installing solar panels in Ray?

This is a hard question to answer precisely, 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 additional solar equipment or higher quality panels, or if you have higher-than-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or cheaper solar panels.

Is cost the most important consideration when buying solar panels?

The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.

How much can I save on energy bills after installing solar panels?

It is possible to eliminate your electricity bills with solar panels, but for most homeowners in Ray, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to check with a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them once you've had them for that long or you can keep using them at a lower efficiency.

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.

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