Solar Panel Cost Guide in Waverly, MI (2024 Update)
- Waverly Solar Installation Cost: $17,540
- 25-Year Savings: $21,297
- Payback Period: 13.1 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 Waverly
We go over average solar pricing in Waverly.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Waverly, the typical cost of solar panels is 4 per watt.Since a 6.2-kW system is needed to cover the energy needs of a typical home in Waverly, the average price of going solar will be about $17,540 after claiming the federal solar tax credit of 0.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy consumption, the type of solar system you want to get, your solar contractor and more.For many homeowners, the upfront cost of solar panels is worth paying. On average you could be looking at about $21,000 in savings on energy bills over 20 years.
Click the button below to get connected to a top solar installer in Waverly for a custom quote.
Solar savings over time in Waverly
| Year | Return on Investment |
|---|---|
| 1 years | $-16,286 |
| 3 years | $-13,779 |
| 5 years | $-11,271 |
| 7 years | $-8,764 |
| 9 years | $-6,257 |
| 11 years | $-3,749 |
| 13 years | $-1,242 |
| 15 years | $1,266 |
| 17 years | $3,773 |
| 19 years | $6,280 |
| 21 years | $8,788 |
| 23 years | $11,295 |
| 25 years | $13,803 |
Top Solar Installers in Waverly
Many homeowners opt for a solar installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Local solar installers can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.
There are several licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Waverly
Factors that Affect Solar Panel Costs in Waverly
Though the average cost of a solar system in Waverly is $17,540, your final cost may be above or below the average. There are many factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the cost of solar panels in Waverly, one of the most crucial 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 consumption, 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.The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Waverly offer solar loans, which reduce your upfront costs of installing a solar system.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Waverly is the company you get to install your solar system. As with choosing a company to renovate your kitchen, for example, there’s no shortage of solar installers that provide a range of services for different budgets.You may notice national solar installers that have lower prices because of their larger 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 | $14,773 | 13.6 years |
| 8 kW | $4.14 | $23,191 | $20,151 | 13.4 years |
| 10 kW | $4.06 | $28,420 | $25,758 | 13.1 years |
| 12 kW | $3.98 | $33,422 | $31,591 | 12.9 years |
| 14 kW | $3.90 | $38,196 | $37,652 | 12.6 years |
| 16 kW | $3.82 | $42,744 | $43,941 | 12.3 years |
| 18 kW | $3.74 | $47,064 | $50,456 | 12.1 years |
| 20 kW | $3.65 | $51,156 | $57,200 | 11.8 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Waverly, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Long-running companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Contract: Before signing a contract with a solar installer, make sure to look it over fully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Each solar panel brand and kind offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Installation Process: When going solar, it’s important to keep an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
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 Waverly, MI Solar Cost FAQs
What is the average cost of installing solar panels in Waverly?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly 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 extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you go with a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Waverly?
Leasing solar panels can be an option if you can’t afford to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Can you sell solar power back to the grid in Waverly?
Most states have net metering programs of some kind. Through these, you can either receive compensation for the extra power your system produces 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 often do you have to replace solar panels?
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 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.