Solar Panel Cost Guide in Forest Hills, MI (2024 Update)
- Forest Hills Solar Installation Cost: $17,551
- 25-Year Savings: $23,157
- Payback Period: 12.4 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in Forest Hills
We break down average solar pricing in Forest Hills.
The average cost of a solar panel system in Forest Hills is 4 per watt.To cover the typical energy needs of the average home in Forest Hills, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,551, or $25,098 before the federal solar tax credit of 0 is applied.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary quite a bit based on multiple factors, such as how many panels you need, your energy usage and what company you go with.With typical savings of about $22,000 on utility bills over 20 years, many homeowners in Forest Hills find installing solar panels can be quite rewarding.
Click the button below to get connected to a highly rated solar panel company in Forest Hills for a personalized estimate.
Solar savings over time in Forest Hills
Year | Return on Investment |
---|---|
1 years | $-16,297 |
3 years | $-13,790 |
5 years | $-11,282 |
7 years | $-8,775 |
9 years | $-6,268 |
11 years | $-3,760 |
13 years | $-1,253 |
15 years | $1,255 |
17 years | $3,762 |
19 years | $6,269 |
21 years | $8,777 |
23 years | $11,284 |
25 years | $13,792 |
Top Solar Installers in Forest Hills
Although it's possible to install solar panels yourself, it involves extra effort and know-how. For that reason, the majority of homeowners choose a solar panel installer. Another good thing about choosing a reliable solar installer is that it'll provide warranties and free repairs, which help protect your investment.
Working with a professional solar company can help you make the most of your investment in solar. Here are our recommendations:
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 Forest Hills
Factors that Affect Solar Panel Costs in Forest Hills
The cost of installing a solar system in Forest Hills can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system you need, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that determines the overall cost of installing solar panels. For that reason, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.There are several different solar panel brands and the one you pick also affects the cost. In general, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Forest Hills to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar company in the area offers financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to a higher cost over time because of interest.However, the interest on solar loans also adds to your overall costs, so it’s vital to keep that in mind as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can influence the cost. Forest Hills’s solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies compete with them by promoting 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 vehicle 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 | $16,567 | 12.9 years |
8 kW | $4.14 | $23,191 | $22,543 | 12.7 years |
10 kW | $4.06 | $28,420 | $28,748 | 12.4 years |
12 kW | $3.98 | $33,422 | $35,179 | 12.2 years |
14 kW | $3.90 | $38,196 | $41,838 | 11.9 years |
16 kW | $3.82 | $42,744 | $48,725 | 11.7 years |
18 kW | $3.74 | $47,064 | $55,838 | 11.4 years |
20 kW | $3.65 | $51,156 | $63,179 | 11.2 years |
How to Save on Solar Panels
There are a large number of companies to choose from in Forest Hills, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be difficult, so here are some tips to help you decide:
- Reputation: Well-established companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- 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 large role in the company you choose.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the completion timeline.
- 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.
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 Forest Hills, MI Solar Cost FAQs
How much does it cost to install solar panels in Forest Hills?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Forest Hills?
Leasing solar panels can be an appealing choice, because it usually comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
Does Forest Hills have a net metering program?
Most states have net metering programs of some kind. Through these, you can be compensated for the extra power your system produces 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.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
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.