Solar Panel Cost Guide in Beechwood, MI (2023 Update)
- Beechwood Solar Installation Cost: $11,665
- 25-Year Savings: $22,840
- Payback Period: 8.5 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Beechwood
We break down average solar pricing in Beechwood.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Beechwood, the average cost of solar panels is 2.81 per watt. Using this figure, a typical 5.9-kW system would cost about $11,664 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The true cost of making the switch to solar can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. For many homeowners, the upfront investment in solar power is worth paying. On average Beechwood homeowners see about $22,000 in savings on utility bills over 20 years.
Click the button below to get connected to a highly rated solar installer in your area for a custom estimate.
Solar savings over time in Beechwood
| Year | Return on Investment |
|---|---|
| 1 years | $-11,550 |
| 3 years | $-11,320 |
| 5 years | $-11,090 |
| 7 years | $-10,859 |
| 9 years | $-10,629 |
| 11 years | $-10,399 |
| 13 years | $-10,169 |
| 15 years | $-9,939 |
| 17 years | $-9,709 |
| 19 years | $-9,479 |
| 21 years | $-9,249 |
| 23 years | $-9,019 |
| 25 years | $-8,789 |
Top Solar Installers in Beechwood
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can use up a lot of your time and energy. Hiring a solar panel installer can make your swap to solar power much easier. Local solar companies can also help you maximize your return on investment by assisting with 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:
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 Beechwood
Factors that Affect Solar Panel Costs in Beechwood
The cost of installing a solar system in Beechwood can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,810. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a 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
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That's why many Beechwood homeowners choose to finance their solar panel systems to offset upfront costs. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you decide on a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to estimate the cost of solar for your home or business in Beechwood is the company you get to install your solar system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different costs. The size of the company sometimes plays the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to more 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 down 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 | $2.92 | $12,274 | $22,637 | 8.8 years |
| 8 kW | $2.87 | $16,051 | $30,497 | 8.6 years |
| 10 kW | $2.81 | $19,670 | $38,514 | 8.5 years |
| 12 kW | $2.75 | $23,132 | $46,689 | 8.3 years |
| 14 kW | $2.70 | $26,436 | $55,022 | 8.1 years |
| 16 kW | $2.64 | $29,584 | $63,512 | 7.9 years |
| 18 kW | $2.59 | $32,574 | $72,159 | 7.8 years |
| 20 kW | $2.53 | $35,406 | $80,963 | 7.6 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The model of solar panel you'd like to get plays a part in which company you should opt for, since different companies provide different panels.
- Contract: Read the contract terms carefully to make sure you understand how much it will cost, project timeline incentives and warranties.
- Reputation: Companies that have been in business for many years 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 service, such as part repairs and replacements.
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
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 Beechwood, MI Solar Cost FAQs
How much does it cost to install solar panels in Beechwood?
This is a tough question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
What other factors should I consider apart from cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Beechwood have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates 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.
What solar power system size is right for my home?
To figure out how many solar panels you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.