Solar Panel Cost Guide in Eastpointe, MI (2023 Update)
- Eastpointe Solar Installation Cost: $11,959
- 25-Year Savings: $13,160
- Payback Period: 11.9 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Eastpointe
Find out what the average cost of solar panels are in Eastpointe.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Eastpointe, the average cost of a solar system is 2.81 per watt. The average solar panel system size in Eastpointe is around 6.1 kilowatts, meaning a cost of about $11,959 for a solar installation, or $17,101 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The true cost of making the switch to solar can vary depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with. But, once you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $16,000 over 20 years on power bills.
To get a free quote from a vetted solar installer in Eastpointe, you can click the button below.
Solar savings over time in Eastpointe
| Year | Return on Investment |
|---|---|
| 1 years | $-10,955 |
| 3 years | $-8,945 |
| 5 years | $-6,935 |
| 7 years | $-4,926 |
| 9 years | $-2,916 |
| 11 years | $-907 |
| 13 years | $1,103 |
| 15 years | $3,112 |
| 17 years | $5,122 |
| 19 years | $7,132 |
| 21 years | $9,141 |
| 23 years | $11,151 |
| 25 years | $13,160 |
Top Solar Installers in Eastpointe
DIY solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with an installer can make your swap to solar power much easier. Because solar panels are exposed to the elements every day, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by avoiding potential costs down the line.
If you're searching for a solar company in Eastpointe, the EcoWatch team has put together a list of our top suggestions here:
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 Eastpointe
Factors that Affect Solar Panel Costs in Eastpointe
The cost of installing a solar system in Eastpointe can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system your household needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Eastpointe, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can gauge by looking at past electricity bills. Your total cost can increase by about $2,810 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will greatly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You'll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking for a solar system that's in your budget.
Solar Financing Terms
Most solar companies in Eastpointe provide solar loans, which reduce your upfront costs of installing a solar system. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar panel installer you pick will impact your total cost to adopt solar energy. Different companies will bill different amounts for the equipment and labor. Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or add-on 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 | $2.92 | $12,274 | $12,529 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $17,020 | 12.1 years |
| 10 kW | $2.81 | $19,670 | $21,668 | 11.9 years |
| 12 kW | $2.75 | $23,132 | $26,474 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,437 | 11.4 years |
| 16 kW | $2.64 | $29,584 | $36,557 | 11.2 years |
| 18 kW | $2.59 | $32,574 | $41,835 | 10.9 years |
| 20 kW | $2.53 | $35,406 | $47,270 | 10.7 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because picking a company can be a tough decision, we have some tips to help you, such as:
- 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 big role in the company you hire.
- Installation Process: Get detailed information from your solar installer about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Before you sign a contract with a solar company, be sure to look it over fully so you understand the terms. Also, ask questions if you're not certain about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Eastpointe, MI Solar Cost FAQs
What is the average cost of installing solar panels in Eastpointe?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Are solar panels free in Eastpointe?
You can't get solar panels for free in Eastpointe. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Eastpointe?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Eastpointe?
On average, the lifespan of solar panels is 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 higher 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.