Solar Panel Cost Guide in Wells, MI (2024 Update)
- Wells Solar Installation Cost: $16,935
- 25-Year Savings: $31,736
- Payback Period: 9.7 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 Wells
Let’s have a look at the average cost of solar in Wells.
While the national average of solar panels is $2.66 per watt, solar panels in Wells typically cost about 4.Using this figure, a typical 6.0-kW system would cost about $16,935 before the 0 federal solar tax credit is applied.
How much you pay can go higher or lower than the average in Wells depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire.Many homeowners find going solar is a fruitful investment. The average homeowner in Wells can save around $28,000 on their power bills over 20 years.
Click the button below to get connected to a top solar installer in Wells for a custom estimate.
Solar savings over time in Wells
| Year | Return on Investment |
|---|---|
| 1 years | $-15,140 |
| 3 years | $-11,551 |
| 5 years | $-7,961 |
| 7 years | $-4,372 |
| 9 years | $-782 |
| 11 years | $2,807 |
| 13 years | $6,397 |
| 15 years | $9,986 |
| 17 years | $13,576 |
| 19 years | $17,165 |
| 21 years | $20,754 |
| 23 years | $24,344 |
| 25 years | $27,933 |
Top Solar Installers in Wells
DIY solar panel installation is a possibility, but it's an undertaking that can be a headache. Using an installer can make switching to solar power much easier. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives 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 Wells
Factors that Affect Solar Panel Costs in Wells
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that will push your cost above or below the average in Wells: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Wells, where sunlight is relatively abundant, efficiency can quickly pay off. Also, if you have a small roof or limited 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
Most solar companies in Wells have solar loans, which reduce the initial cost of installing solar.You’ll have to consider the long-term cost of loans, including the total 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 above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Wells, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on services like electric vehicle charger installation, they might be cheaper overall.
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 | $26,023 | 10.1 years |
| 8 kW | $4.14 | $23,191 | $35,152 | 9.9 years |
| 10 kW | $4.06 | $28,420 | $44,509 | 9.7 years |
| 12 kW | $3.98 | $33,422 | $54,093 | 9.5 years |
| 14 kW | $3.90 | $38,196 | $63,904 | 9.4 years |
| 16 kW | $3.82 | $42,744 | $73,943 | 9.2 years |
| 18 kW | $3.74 | $47,064 | $84,209 | 9.0 years |
| 20 kW | $3.65 | $51,156 | $94,702 | 8.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- 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 how long it will take.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to peruse their list of offerings before deciding.
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 Wells, MI Solar Cost FAQs
What is the average cost of installing solar panels in Wells?
The average cost of solar panels in Wells 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.
Is it better to lease or buy solar panels in Wells?
Leasing solar panels can be an attractive choice, because it often comes with low or $0 upfront payments. The drawback is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any tax rebates and credits and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How much can I save on energy bills after installing solar panels?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Wells, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels do I need to power 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 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 install between 20 and 35 panels to cover 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.