Solar Panel Cost Guide in Bloomingdale, MI (2023 Update)
- Bloomingdale Solar Installation Cost: $11,409
- 25-Year Savings: $23,613
- Payback Period: 8.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Bloomingdale
Find out what the average cost of a solar system is in Bloomingdale.
In Bloomingdale, solar panels cost about 2.81 per watt on average. To cover the typical energy usage of the average home in Bloomingdale, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,409, or $16,315 before the federal solar tax credit of 30% is applied.
How much you pay can go above or below the average in Bloomingdale depending on a variety of factors, such as the type of solar panels you choose and the solar company you hire. Despite the high upfront cost, the average Bloomingdale homeowner can save about $23,000 on their energy bills over 20 years, which is one of the advantages of solar.
To receive a free quote from a pre-vetted solar company in Bloomingdale, you can click the button below.
Solar savings over time in Bloomingdale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,008 |
| 3 years | $-7,206 |
| 5 years | $-4,404 |
| 7 years | $-1,602 |
| 9 years | $1,199 |
| 11 years | $4,001 |
| 13 years | $6,803 |
| 15 years | $9,605 |
| 17 years | $12,406 |
| 19 years | $15,208 |
| 21 years | $18,010 |
| 23 years | $20,812 |
| 25 years | $23,613 |
Top Solar Installers in Bloomingdale
Installing solar panels on your own can be a stressful project, which is why using a solar installation company is a good option for many homeowners. Also, companies with a good reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
If you'd like to switch to solar energy but still aren't certain which solar panel installer to go with, here are our recommendations for providers nearby:
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 Bloomingdale
Factors that Affect Solar Panel Costs in Bloomingdale
There are a number of criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to pay about $2,810 per kilowatt in Bloomingdale. The brand and kind 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 come at a higher price 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Most solar companies in Bloomingdale provide solar loans, which reduce your upfront costs of installing a solar system. When considering your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
Lastly, the company you hire to install your solar panel system can impact the cost. Bloomingdale's solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Bloomingdale are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $23,935 | 8.5 years |
| 8 kW | $2.87 | $16,051 | $32,228 | 8.3 years |
| 10 kW | $2.81 | $19,670 | $40,678 | 8.1 years |
| 12 kW | $2.75 | $23,132 | $49,286 | 8.0 years |
| 14 kW | $2.70 | $26,436 | $58,051 | 7.8 years |
| 16 kW | $2.64 | $29,584 | $66,973 | 7.7 years |
| 18 kW | $2.59 | $32,574 | $76,053 | 7.5 years |
| 20 kW | $2.53 | $35,406 | $85,290 | 7.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Not all solar companies have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you opt for.
- Installation Process: An important thing to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should acquire and how long the project will take.
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 Bloomingdale, MI Solar Cost FAQs
How much does it cost to install solar panels in Bloomingdale?
The average cost of solar panels in Bloomingdale is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on stuff 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?
The initial cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to think about are the quality and durability of your solar panels.
How much can I save on energy bills after installing solar panels?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners throughout Bloomingdale, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get 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 take a 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 buy 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.