Solar Panel Cost Guide in Eastpointe, MI (2024 Update)
- Eastpointe Solar Installation Cost: $17,270
- 25-Year Savings: $13,167
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Eastpointe
We break down average solar pricing in Eastpointe.
In Eastpointe, solar panels cost about 4 per watt on average.To cover the typical energy needs of the average home in Eastpointe, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,270, or $24,696 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Eastpointe depending on a few factors, such as the brand of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $16,000 over 20 years on utility bills.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Eastpointe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,878 |
| 3 years | $-13,093 |
| 5 years | $-10,308 |
| 7 years | $-7,524 |
| 9 years | $-4,739 |
| 11 years | $-1,954 |
| 13 years | $830 |
| 15 years | $3,615 |
| 17 years | $6,400 |
| 19 years | $9,185 |
| 21 years | $11,969 |
| 23 years | $14,754 |
| 25 years | $17,539 |
Top Solar Installers in Eastpointe
When going solar, many homeowners choose to use a solar installer since installing a solar system yourself can be a time-consuming project. Also, companies with a high reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:
See all of the solar companies in Eastpointe
Factors that Affect Solar Panel Costs in Eastpointe
There are several factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.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 come at a higher price. Plus, solar equipment is more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Most solar installers in Eastpointe provide solar loans, which reduce your upfront costs of installing a solar system.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or securing a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can influence how much it costs. Eastpointe’s solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and go with the company that has the products, warranties and services you’re looking for and also fit into your budget.
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 | $7,069 | 17.9 years |
| 8 kW | $4.14 | $23,191 | $9,880 | 17.5 years |
| 10 kW | $4.06 | $28,420 | $12,918 | 17.2 years |
| 12 kW | $3.98 | $33,422 | $16,184 | 16.8 years |
| 14 kW | $3.90 | $38,196 | $19,677 | 16.5 years |
| 16 kW | $3.82 | $42,744 | $23,397 | 16.2 years |
| 18 kW | $3.74 | $47,064 | $27,345 | 15.8 years |
| 20 kW | $3.65 | $51,156 | $31,520 | 15.5 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 choosing a company can be a tough decision, we have some tips to help you, such as:
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system’s energy production.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar panel installer you’re considering has it.
- Warranty: A high-quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
EcoWatch's Eastpointe, MI Solar Cost FAQs
What is the average cost of installing solar panels in Eastpointe?
The average cost of solar panels in Eastpointe 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 things such as the kind of solar panels you want, what size system you need and how much energy you use.
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’d rather own your solar panels, you can finance them with a solar loan.
How much can I save on power bills after switching to solar?
It is possible to eradicate your electricity bills with solar panels, but for most homeowners in Eastpointe, that will require at least a 10-kW system. Not all homes will have the roof space for 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 long do solar panels last in Eastpointe?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having them for that long or you can continue to use them at a lower efficiency.
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.