Solar Panel Cost Guide in Yankee Springs, MI (2024 Update)
- Yankee Springs Solar Installation Cost: $17,425
- 25-Year Savings: $22,444
- Payback Period: 12.6 Years
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Average Cost of Solar Panels in Yankee Springs
We go over average solar pricing in Yankee Springs.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Yankee Springs, the average cost of a solar system is 4 per watt.The average Yankee Springs homeowner needs a 6.1-kilowatt system, which would cost about $17,425 with the federal tax credit, or $24,918 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar panels you want, your solar contractor and more.Even with the significant upfront cost, the average Yankee Springs homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a top solar company in Yankee Springs that can help you get a more accurate cost estimate for your home.
Solar savings over time in Yankee Springs
| Year | Return on Investment |
|---|---|
| 1 years | $-16,171 |
| 3 years | $-13,664 |
| 5 years | $-11,156 |
| 7 years | $-8,649 |
| 9 years | $-6,141 |
| 11 years | $-3,634 |
| 13 years | $-1,127 |
| 15 years | $1,381 |
| 17 years | $3,888 |
| 19 years | $6,396 |
| 21 years | $8,903 |
| 23 years | $11,410 |
| 25 years | $13,918 |
Top Solar Installers in Yankee Springs
When switching to solar energy, many homeowners decide to go with a solar installation company since DIY solar panel installation can be a difficult project. Solar warranties and repairs are usually included in the cost of installation when you sign a contract with a solar company as well, which can save you more money after your upfront investment.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Yankee Springs:
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 Yankee Springs
Factors that Affect Solar Panel Costs in Yankee Springs
There are several criteria that can affect your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Yankee Springs.There are several different solar panel brands and the one you pick also affects the cost. Generally speaking, the brands that are more efficient tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only 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 power bills over time, but they can also be a significant investment. That’s why many Yankee Springs homeowners choose to finance their solar panel systems to offset upfront costs.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 getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Yankee Springs is the company you choose to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services for different budgets.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 cost more. It’s best to do some research and decide on the company that offers the products, warranties and services you’re looking for and also fit into 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 | $16,032 | 13.1 years |
| 8 kW | $4.14 | $23,191 | $21,831 | 12.9 years |
| 10 kW | $4.06 | $28,420 | $27,857 | 12.6 years |
| 12 kW | $3.98 | $33,422 | $34,111 | 12.4 years |
| 14 kW | $3.90 | $38,196 | $40,591 | 12.1 years |
| 16 kW | $3.82 | $42,744 | $47,300 | 11.9 years |
| 18 kW | $3.74 | $47,064 | $54,235 | 11.6 years |
| 20 kW | $3.65 | $51,156 | $61,398 | 11.4 years |
How to Save on Solar Panels
Since the kind of solar panels and the installation company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like EcoWatch.
- Installation Process: Make sure you’re on the same page with the company in regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
- Warranty: An all-inclusive, long-term warranty can help keep your solar system running for a long time and save you money on part replacement and repairs.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
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 Yankee Springs, MI Solar Cost FAQs
How much does it cost to install solar panels in Yankee Springs?
The average cost of solar panels in Yankee Springs 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider apart from cost when buying solar panels?
Cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In places where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Do solar panels increase your home value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose 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 solar panels."
How long do solar panels last in Yankee Springs?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to replace them once you've had them for that long or you can keep using them at a lower efficiency.
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.