Solar Panel Cost Guide in Wayland, MI (2024 Update)
- Wayland Solar Installation Cost: $16,895
- 25-Year Savings: $22,811
- 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 Wayland
Let’s have a look at the average cost of solar in Wayland.
The average cost of a solar system in Wayland is 4 per watt.To cover the typical energy needs of the average home in Wayland, most homeowners require a 5.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,895, or $24,160 before the federal solar tax credit of 0 is applied.
These figures are only estimates, and the cost of going solar for you may look different based on your specific situation and what company you choose to go with.For many homeowners, the upfront cost of solar power is worth paying. On average you could be looking at about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a top solar company in your area for a personalized quote.
Solar savings over time in Wayland
| Year | Return on Investment |
|---|---|
| 1 years | $-15,641 |
| 3 years | $-13,133 |
| 5 years | $-10,626 |
| 7 years | $-8,119 |
| 9 years | $-5,611 |
| 11 years | $-3,104 |
| 13 years | $-596 |
| 15 years | $1,911 |
| 17 years | $4,418 |
| 19 years | $6,926 |
| 21 years | $9,433 |
| 23 years | $11,940 |
| 25 years | $14,448 |
Top Solar Installers in Wayland
Trying to put up solar panels yourself can be a difficult undertaking, which is why getting a solar installation company is a good option for many homeowners. Solar installers provide key benefits that can help you get the most out of your investment, like warranties, monitoring and free repairs.
If you’d like to switch to solar energy but still aren’t sure which solar system company to go with, here are our suggestions for providers nearby:
See all of the solar companies in Wayland
Factors that Affect Solar Panel Costs in Wayland
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
The size of the solar panel system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. There are a lot of different solar panel brands and the one you choose also affects the cost. In general, the brands that offer higher efficiency tend to also cost more. Additionally, the type of equipment you’re looking to get 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
If paying for a solar system out of pocket is difficult, solar loans are a solid route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
The final significant cost factor you should take into consideration is the installer you choose. Given the booming popularity of sustainable energy solutions in Wayland, you’ll have many options to choose from, but each comes at varying price points for labor and equipment.You may see national solar installers that have lower prices due to their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $17,092 | 12.7 years |
| 8 kW | $4.14 | $23,191 | $23,244 | 12.5 years |
| 10 kW | $4.06 | $28,420 | $29,623 | 12.2 years |
| 12 kW | $3.98 | $33,422 | $36,230 | 12.0 years |
| 14 kW | $3.90 | $38,196 | $43,064 | 11.8 years |
| 16 kW | $3.82 | $42,744 | $50,125 | 11.5 years |
| 18 kW | $3.74 | $47,064 | $57,414 | 11.3 years |
| 20 kW | $3.65 | $51,156 | $64,930 | 11.0 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:
- Solar Panel Brands: Different companies have different brands and kinds of panels. If you want a specific brand, make sure the solar panel company you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like EcoWatch.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar installer. Confirm that you understand how the installation process works and the completion timeline.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering that kind of warranty is one indication of a good company.
EcoWatch's Wayland, MI Solar Cost FAQs
What is the average cost of installing solar panels in Wayland?
This is a hard 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 additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. On the flip side, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Are solar panels free in Wayland?
You can’t get solar panels for free in Wayland. 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.
Does Wayland have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future utility bills.
How long do solar panels last in Wayland?
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.