Solar Panel Cost Guide in Spring Lake, MI (2024 Update)
- Spring Lake Solar Installation Cost: $16,853
- 25-Year Savings: $22,840
- Payback Period: 12.2 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Spring Lake
We go over average solar pricing in Spring Lake.
Although the national average of solar panels is $2.66 per watt, solar panels in Spring Lake typically cost about 4.To cover the typical energy needs of the average home in Spring Lake, most homeowners require a 5.9-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,853, or $24,100 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of installing solar panels can vary based on a few factors, such as how many panels you need, your energy usage and what installation company you go with.Even with the large initial cost, the average Spring Lake homeowner can save about $22,000 on their electricity bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in your area for a customized quote.
Solar savings over time in Spring Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-15,600 |
| 3 years | $-13,092 |
| 5 years | $-10,585 |
| 7 years | $-8,078 |
| 9 years | $-5,570 |
| 11 years | $-3,063 |
| 13 years | $-555 |
| 15 years | $1,952 |
| 17 years | $4,459 |
| 19 years | $6,967 |
| 21 years | $9,474 |
| 23 years | $11,982 |
| 25 years | $14,489 |
Top Solar Installers in Spring Lake
When switching to solar energy, many homeowners prefer to use a solar installer since putting up a solar system yourself can be a time-consuming project. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar company too, which can save you more money after your upfront investment.
If you're searching for a solar installer in Spring Lake, the EcoWatch team has 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 Spring Lake
Factors that Affect Solar Panel Costs in Spring Lake
The cost of installing a solar system in Spring Lake can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $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 Spring Lake, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or you don’t have a lot of 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 Spring Lake to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time because of interest.When figuring out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can lower the total interest paid over time.
Solar Panel Installation Company
The final major cost factor you should keep in mind is the installer you choose. Given the booming popularity of renewable energy solutions in Spring Lake, you’ll have many options to choose from, but each comes at various price points for labor and equipment.You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $17,177 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,357 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,764 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,399 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,262 | 11.7 years |
| 16 kW | $3.82 | $42,744 | $50,352 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,669 | 11.2 years |
| 20 kW | $3.65 | $51,156 | $65,213 | 11.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be completed and what the project timeline is.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: The brand of solar panel you’d like to get plays a part in which installer you should choose, since different companies provide different panels.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has satisfied reviews from past customers.
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 Spring Lake, MI Solar Cost FAQs
What is the average cost of installing solar panels in Spring Lake?
The average cost of solar panels in Spring Lake is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Spring Lake?
You can’t get solar panels for free in Spring Lake. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
How will solar panels impact my home value?
Solar panels can increase your home value remarkably 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."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 buy 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.