Solar Panel Cost Guide in Bloomfield, MI (Feb 2023)
- Bloomfield Solar Installation Cost: $12,156
- 25-Year Savings: $12,964
- Payback Period: 12.1 Years
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Top Solar Installers in Bloomfield
When switching to solar energy, many homeowners choose to go with a solar installation company since overseeing your solar installation yourself can be a challenging project. A solar company can also help save you money over time by providing warranties, repairs and system component replacements.
You can work with a local solar installer to get a free quote on how much solar panels could cost for your home. Here are some nearby:
See all of the solar companies in Bloomfield
Factors that Affect Solar Panel Costs in Bloomfield
For many Bloomfield homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Bloomfield, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
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 around $2,810. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Bloomfield to be too steep, even if the investment pays off over time. Thankfully, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs in most cases, but they also result in a higher cost over time due to interest. However, the interest on solar loans also adds to your total costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Bloomfield is the company you get to install your PV system. As with choosing a company to build a deck or pool, for example, there's no shortage of solar installers that provide a range of services for different budgets. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra 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||$2.92||$12,274||$12,125||12.6 years|
|8 kW||$2.87||$16,051||$16,481||12.3 years|
|10 kW||$2.81||$19,670||$20,995||12.1 years|
|12 kW||$2.75||$23,132||$25,666||11.9 years|
|14 kW||$2.70||$26,436||$30,494||11.6 years|
|16 kW||$2.64||$29,584||$35,480||11.4 years|
|18 kW||$2.59||$32,574||$40,623||11.1 years|
|20 kW||$2.53||$35,406||$45,924||10.9 years|
How to Save on Solar Panels
There are numerous companies available in Bloomfield, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely provide high-quality solar panel installation and expertise.
- Contract: Review the contract terms carefully to make sure you understand the cost breakdown, project timeline rebates and warranties.
- 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 brand 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 take a look at their list of options before deciding.
- Installation Process: Homeowners should make sure they know how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
EcoWatch's Bloomfield, MI Solar Cost FAQs
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.