Solar Panel Cost Guide in Eastwood, MI (2025 Update)
- Eastwood Solar Installation Cost: $17,318
- 25-Year Savings: $19,756
- Payback Period: 13.6 Years
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Average Cost of Solar Panels in Eastwood
Find out how much it might cost to go solar in Eastwood.
The national average cost of solar panels is $2.66 per watt, but in Eastwood it’s 4 per watt.The average solar panel system size in Eastwood is around 6.1 kilowatts, meaning a cost of about $17,318 for a solar installation, or $24,765 before the 0 federal solar tax credit is applied.
These figures are just averages, and your own solar costs will differ based on your energy needs and what company you go with.Many homeowners find installing a solar system is a fruitful investment. The average homeowner in Eastwood can save about $20,000 on their power bills over 20 years.
To get a free quote from a pre-vetted solar company in Eastwood, you can click the button below.
Solar savings over time in Eastwood
Year | Return on Investment |
---|---|
1 years | $-16,065 |
3 years | $-13,557 |
5 years | $-11,050 |
7 years | $-8,542 |
9 years | $-6,035 |
11 years | $-3,528 |
13 years | $-1,020 |
15 years | $1,487 |
17 years | $3,995 |
19 years | $6,502 |
21 years | $9,009 |
23 years | $11,517 |
25 years | $14,024 |
Top Solar Installers in Eastwood
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a headache. Going with a solar panel installer can make switching to solar power much easier. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run with their warranties, repair services and expert design.
Working with a licensed solar company can make going solar easier. Here are our recommendations:
See all of the solar companies in Eastwood
Factors that Affect Solar Panel Costs in Eastwood
For many Eastwood homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Eastwood, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
The size of the solar 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 around $4,060. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Eastwood, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Eastwood to be too expensive, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also result in a higher cost over time due to interest.It’s a good idea to add 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installer you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Eastwood, and each can charge varying amounts for labor and equipment.The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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 | $13,519 | 14.2 years |
8 kW | $4.14 | $23,191 | $18,481 | 13.9 years |
10 kW | $4.06 | $28,420 | $23,669 | 13.6 years |
12 kW | $3.98 | $33,422 | $29,085 | 13.4 years |
14 kW | $3.90 | $38,196 | $34,728 | 13.1 years |
16 kW | $3.82 | $42,744 | $40,599 | 12.8 years |
18 kW | $3.74 | $47,064 | $46,697 | 12.5 years |
20 kW | $3.65 | $51,156 | $53,023 | 12.3 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 choosing a company can be difficult, we have some tips to help you, such as:
- Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can look into your installer’s reputation is by reading reviews.
- 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 substantial role in the company you go with.
- Contract: Look through the contract terms thoroughly to make sure you understand the overall cost, project completion timeline rebates and warranties.
EcoWatch's Eastwood, MI Solar Cost FAQs
What is the average cost of installing solar panels in Eastwood?
The average cost of solar panels in Eastwood is about $20,300 for a 5-kW system and $40,600 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.
Are solar panels free in Eastwood?
You can’t get solar panels for free in Eastwood. 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 prefer to own your solar panels, you can finance them with a solar loan.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,041.79 per year.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.