Solar Panel Cost Guide in Forest Hills, MI (Mar 2023)
- Forest Hills Solar Installation Cost: $12,156
- 25-Year Savings: $23,148
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Forest Hills
See how much it might cost to switch to solar power in Forest Hills.
The average cost of solar panels in Forest Hills is 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,156 before the 30% federal solar tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Forest Hills homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor. Even with the significant upfront cost, the average Forest Hills homeowner can save about $22,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a top solar company in Forest Hills for a custom quote.
Solar savings over time in Forest Hills
| Year | Return on Investment |
|---|---|
| 1 years | $-10,744 |
| 3 years | $-7,920 |
| 5 years | $-5,095 |
| 7 years | $-2,271 |
| 9 years | $553 |
| 11 years | $3,378 |
| 13 years | $6,202 |
| 15 years | $9,026 |
| 17 years | $11,851 |
| 19 years | $14,675 |
| 21 years | $17,500 |
| 23 years | $20,324 |
| 25 years | $23,148 |
Top Solar Installers in Forest Hills
When going solar, many homeowners choose to go with a solar company since DIY solar panel installation can be a difficult project. A solar company can also help save you money over time by providing warranties, repairs and component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel company to go with, here are our recommendations for providers 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 usually one of the most important factors for homeowners who are considering investing in solar. There are a few key 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 cover each of these briefly below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. Because of that, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. Some solar brands — like Maxeon from SunPower — are more costly upfront but also tend to offer better efficiency. In a city like Forest Hills, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, 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
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are available from most installers in Forest Hills, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to clean energy can have an effect on your total costs. There are about 3 solar panel companies in Forest Hills, and each can charge varying amounts for labor and 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 cost more. It's best to do some research and go with the company that has the products, warranties and services you want and also is within 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 | $2.92 | $12,274 | $22,027 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $29,683 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,498 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,469 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $53,598 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,885 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $70,328 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,929 | 7.7 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 picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. While there are many options for which type of solar panel you can get, not every company will have the exact one you may want or need, so be sure to ask for their list of offerings before deciding.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: When reading through your solar company's contract, ask questions about any terms you're not sure of and be 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 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 real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Forest Hills?
You can't get solar panels for free in Forest Hills. 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 prefer to own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact my property value?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't go for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.