Solar Panel Cost Guide in Thetford, MI (2024 Update)
- Thetford Solar Installation Cost: $17,718
- 25-Year Savings: $17,273
- Payback Period: 15.0 Years
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Average Cost of Solar Panels in Thetford
Here’s how much it might cost to switch to solar power in Thetford.
The national average cost of solar panels is $2.66 per watt, but in Thetford it’s 4 per watt.The average solar panel system size in Thetford is around 6.2 kilowatts, meaning a cost of about $17,718 for a solar installation, or $25,337 before the 0 federal solar tax credit is applied.
These figures are just estimates, and how much solar costs for you will most likely vary based on your energy needs and what company you want to go with.But, once you've paid the upfront cost of installation, the payback for most homeowners is usually rewarding, with a net average savings of about $18,000 over 20 years on electricity bills.
You can click the button below to get connected with a pre-vetted solar company in Thetford that can help you get a more accurate cost estimate for your home.
Solar savings over time in Thetford
| Year | Return on Investment |
|---|---|
| 1 years | $-16,464 |
| 3 years | $-13,957 |
| 5 years | $-11,449 |
| 7 years | $-8,942 |
| 9 years | $-6,434 |
| 11 years | $-3,927 |
| 13 years | $-1,420 |
| 15 years | $1,088 |
| 17 years | $3,595 |
| 19 years | $6,103 |
| 21 years | $8,610 |
| 23 years | $11,117 |
| 25 years | $13,625 |
Top Solar Installers in Thetford
Putting up solar panels by yourself can be a dangerous undertaking, which is why hiring a solar installer is a good option for many homeowners. Another advantage of going with a solar installer is that they can help you make the most of your investment by lowering your future costs of repairs and replacements with the help of warranties and giving you information on local incentives you can take advantage of.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Thetford:
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 Thetford
Factors that Affect Solar Panel Costs in Thetford
For many Thetford homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Thetford, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar system in Thetford, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $4,060 for each additional kilowatt you need.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that are more efficient tend to also be more expensive. Plus, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Thetford homeowners decide to finance their solar panel systems to offset upfront costs.It’s a good idea 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Thetford, and each can charge varying amounts for labor and equipment.Companies that only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want 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 | $10,692 | 15.6 years |
| 8 kW | $4.14 | $23,191 | $14,711 | 15.3 years |
| 10 kW | $4.06 | $28,420 | $18,957 | 15.0 years |
| 12 kW | $3.98 | $33,422 | $23,431 | 14.7 years |
| 14 kW | $3.90 | $38,196 | $28,131 | 14.4 years |
| 16 kW | $3.82 | $42,744 | $33,060 | 14.1 years |
| 18 kW | $3.74 | $47,064 | $38,215 | 13.8 years |
| 20 kW | $3.65 | $51,156 | $43,598 | 13.5 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: The kind of solar panel you need to install plays a role in which company you should choose, since different companies have access to different panels.
- Contract: When reading over your solar company’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Thetford, MI Solar Cost FAQs
How much does it cost to install solar panels in Thetford?
This is a tough question to answer precisely, 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 other solar equipment or more efficient 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 less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
The upfront cost is a very important factor to consider, but whether it’s the most important for you depends on your goals 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.
Does Thetford have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Thetford?
On average, the lifespan of solar panels is 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 larger 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.