Solar Panel Cost Guide in Deerfield, MI (2024 Update)
- Deerfield Solar Installation Cost: $17,632
- 25-Year Savings: $14,394
- Payback Period: 16.6 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Deerfield
See how much it might cost to switch to solar power in Deerfield.
In Deerfield, solar panels cost about 4 per watt on average.The average solar panel system size in Deerfield is around 6.2 kilowatts, meaning a cost of about $17,632 for a solar installation, or $25,214 before the 0 federal solar tax credit is applied.
The true cost of your system can be above or below the average in Deerfield based on several factors, such as the kind of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on utility bills.
For a personalized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Deerfield
| Year | Return on Investment |
|---|---|
| 1 years | $-16,275 |
| 3 years | $-13,559 |
| 5 years | $-10,844 |
| 7 years | $-8,129 |
| 9 years | $-5,413 |
| 11 years | $-2,698 |
| 13 years | $18 |
| 15 years | $2,733 |
| 17 years | $5,448 |
| 19 years | $8,164 |
| 21 years | $10,879 |
| 23 years | $13,594 |
| 25 years | $16,310 |
Top Solar Installers in Deerfield
Installing solar panels by yourself can be a difficult undertaking, which is why hiring a solar installation company is a good option for many homeowners. Since solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar installer can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:
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 Deerfield
Factors that Affect Solar Panel Costs in Deerfield
There are a number of criteria that can influence your solar panel 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
The size of the solar panel system you need, 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 about $4,060. The brand and kind of equipment you get for your solar system can raise or lower 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 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. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over a term of, on average, between five and seven years.Even though solar loans make adopting solar energy more accessible for Deerfield homeowners, they can also increase the total you pay for your system, depending on your interest rate. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies in Deerfield, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car 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 | $4.22 | $17,734 | $7,988 | 17.2 years |
| 8 kW | $4.14 | $23,191 | $11,106 | 16.9 years |
| 10 kW | $4.06 | $28,420 | $14,451 | 16.6 years |
| 12 kW | $3.98 | $33,422 | $18,023 | 16.2 years |
| 14 kW | $3.90 | $38,196 | $21,823 | 15.9 years |
| 16 kW | $3.82 | $42,744 | $25,850 | 15.6 years |
| 18 kW | $3.74 | $47,064 | $30,104 | 15.2 years |
| 20 kW | $3.65 | $51,156 | $34,585 | 14.9 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose significantly affects your costs and your system’s efficiency, production, and durability, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Installation Process: When making the switch to solar power, it’s essential to keep an open line of communication with your solar panel installer. Confirm that you understand how the installation process works and the project timeline.
- Warranty: If you’re concerned about the endurance of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Contract: Before signing a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 Deerfield, MI Solar Cost FAQs
What is the average cost of installing solar panels in Deerfield?
The average cost of solar panels in Deerfield 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 stuff such as the type of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider other than cost when buying solar panels?
Cost is certainly one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will having solar panels impact my home value?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level 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.