Solar Panel Cost Guide in Allen Park, MI (2024 Update)
- Allen Park Solar Installation Cost: $17,379
- 25-Year Savings: $13,091
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Allen Park
Find out what the average cost of solar panel installation is in Allen Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Allen Park, the average cost of a solar system is 4 per watt.To cover the typical energy usage of the average home in Allen Park, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,379, or $24,852 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Allen Park homeowners. The cost of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.For many homeowners, the upfront investment in solar panels is worth paying. On average homeowners in Allen Park see about $16,000 in savings on utility bills over 20 years.
Click the button below to get connected to a vetted solar installer in Allen Park for a customized estimate.
Solar savings over time in Allen Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,987 |
| 3 years | $-13,202 |
| 5 years | $-10,417 |
| 7 years | $-7,633 |
| 9 years | $-4,848 |
| 11 years | $-2,063 |
| 13 years | $721 |
| 15 years | $3,506 |
| 17 years | $6,291 |
| 19 years | $9,075 |
| 21 years | $11,860 |
| 23 years | $14,645 |
| 25 years | $17,429 |
Top Solar Installers in Allen Park
Although you can install solar panels yourself, it involves extra labor and handiness. For that reason, most homeowners choose to hire a solar panel installer. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar installer can help you find the right equipment for you after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Allen Park
Factors that Affect Solar Panel Costs in Allen Park
There are a number of criteria that can play into your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The type of solar panels and equipment you get is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Furthermore, solar equipment goes beyond just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.However, the interest on solar loans also increases your all-in costs, so it’s vital to include that in your estimate as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Allen Park is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there’s no shortage of solar installers that provide a range of services at different costs.The size of the company can sometimes play the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $6,913 | 18.0 years |
| 8 kW | $4.14 | $23,191 | $9,672 | 17.6 years |
| 10 kW | $4.06 | $28,420 | $12,658 | 17.3 years |
| 12 kW | $3.98 | $33,422 | $15,872 | 17.0 years |
| 14 kW | $3.90 | $38,196 | $19,313 | 16.6 years |
| 16 kW | $3.82 | $42,744 | $22,981 | 16.3 years |
| 18 kW | $3.74 | $47,064 | $26,877 | 15.9 years |
| 20 kW | $3.65 | $51,156 | $31,000 | 15.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should acquire and what the project timeline is.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. While there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can check your installer’s reputation is by reading reviews.
EcoWatch's Allen Park, MI Solar Cost FAQs
How much does it cost to install solar panels in Allen Park?
The average cost of solar panels in Allen Park is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Allen Park?
A solar panel system isn’t free in Allen Park, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.
Is it worth going solar in Allen Park?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
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 decreases 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.