Solar Panel Cost Guide in Forest Hills, MI (2023 Update)
- Forest Hills Solar Installation Cost: $17,551
- 25-Year Savings: $23,157
- Payback Period: 12.4 Years
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Updated October 25, 2023
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Average Cost of Solar Panels in Forest Hills
See how much it might cost to go solar in Forest Hills.
Although the national average of solar panels is $2.66 per watt, solar panels in Forest Hills generally cost about 2.81.Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of installing solar panels can vary depending on multiple factors, such as what size system you need, your energy usage and what solar installer you go with.But, once you've paid the initial cost of installation, the savings for most homeowners is usually rewarding, with a net average savings of about $22,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar expert, click the button below.
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
Many homeowners decide to use a solar installation company since trying to put up solar panels by yourself can be time-consuming. Plus, if you aren't sure what kind of solar panels and equipment you may need, a solar expert can help you find the right equipment for you after a site survey and consultation.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some near you:
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
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Forest Hills: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
Solar 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 gauge the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Forest Hills to be too costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans remarkably decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.You'll have to consider the long-term cost of loans, 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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs remarkably.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a role in determining how much it costs. Forest Hills' solar companies all have different labor costs and add varying upcharges to equipment. Some companies only sell high-efficiency and high-priced products — 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 decide on the company that provides 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 | $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 numerous companies to choose from in Forest Hills, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Look through the contract terms thoroughly to make sure you understand how much it will cost, completion timeline incentives and warranties.
- Reputation: Solar companies that have great reviews from their customers and that have been in business for many years most likely provide quality solar panel installation and expertise.
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should opt for, since different companies offer different panels.
- Installation Process: Make sure you're aligned with the company regarding how the installation process will go and what you need to do before your solar panels are installed, such as repairing your electrical system or roof.
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
What is the average cost of installing solar panels in Forest Hills?
The average cost of solar panels in Forest Hills 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 Hills?
You can't get solar panels for free in Forest Hills. However, you may still be able to afford 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 Forest Hills?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
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 their energy production will have decreased significantly after that point. You can choose 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.