Solar Panel Cost Guide in Forest, MI (Mar 2023)
- Forest Solar Installation Cost: $12,254
- 25-Year Savings: $16,873
- Payback Period: 10.5 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Forest
Here's how much it might cost to make the switch to solar in Forest.
While the national average of solar panels is $2.66 per watt, solar panels in Forest typically cost about 2.81. The average Forest homeowner needs a 6.2-kilowatt system, which would cost about $12,254 with the federal tax credit, or $17,523 before the 30% tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy use, the type of solar panels you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the ROI for most homeowners is usually fruitful, with a net average savings of about $18,000 over 20 years on energy bills.
To receive a free estimate from a pre-vetted solar company in Forest, you can click the button below.
Solar savings over time in Forest
| Year | Return on Investment |
|---|---|
| 1 years | $-11,089 |
| 3 years | $-8,759 |
| 5 years | $-6,429 |
| 7 years | $-4,099 |
| 9 years | $-1,769 |
| 11 years | $562 |
| 13 years | $2,892 |
| 15 years | $5,222 |
| 17 years | $7,552 |
| 19 years | $9,882 |
| 21 years | $12,213 |
| 23 years | $14,543 |
| 25 years | $16,873 |
Top Solar Installers in Forest
Although it's possible to install solar panels by yourself, it takes extra time and know-how. For that reason, most people choose a solar panel installer. A solar company can also help save you money in the long run by providing warranties, repairs and part replacements.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Forest
Factors that Affect Solar Panel Costs in Forest
While the average cost of a solar system in Forest is $12,254, your final cost may be above or below the average. There are many factors that can have a significant impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with greater efficiency or power production need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Forest provide solar loans, which reduce your upfront costs of installing solar. It's a good idea 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 the amount of time it'll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you hire to install your solar panels can affect the cost. Forest's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better 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 discount can bring their pricing lower to compete with bigger companies.
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 | $15,759 | 10.9 years |
| 8 kW | $2.87 | $16,051 | $21,327 | 10.7 years |
| 10 kW | $2.81 | $19,670 | $27,052 | 10.5 years |
| 12 kW | $2.75 | $23,132 | $32,934 | 10.3 years |
| 14 kW | $2.70 | $26,436 | $38,974 | 10.1 years |
| 16 kW | $2.64 | $29,584 | $45,171 | 9.9 years |
| 18 kW | $2.59 | $32,574 | $51,526 | 9.7 years |
| 20 kW | $2.53 | $35,406 | $58,037 | 9.5 years |
How to Save on Solar Panels
Since the model of solar panels and the company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Different companies will carry different brands and models of panels. If you prefer a specific brand, make sure the solar installer you're considering has it.
- Installation Process: Make sure you're on the same page with the company with regard to how the installation process will go and what needs to be done before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Warranty: A comprehensive, long-term warranty can help keep your solar panel system running for years to come and save you money on part replacement and repairs.
- Contract: When looking through your solar installer's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
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 Forest, MI Solar Cost FAQs
How much does it cost to install solar panels in Forest?
The average cost of solar panels in Forest is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Forest?
You can't get solar panels for free in Forest. However, you may still be able to get 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.
Can you sell solar power back to the grid in Forest?
The majority of states have net metering programs of some kind. Through these, you can get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
Although 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 their energy production will have decreased significantly after that point. You can replace them after having them for that long or you can keep using 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.