Solar Panel Cost Guide in Grosse Ile, MI (2023 Update)
- Grosse Ile Solar Installation Cost: $12,038
- 25-Year Savings: $14,595
- Payback Period: 11.3 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Grosse Ile
Let's have a look at the average cost of solar panels in Grosse Ile.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grosse Ile, the average cost of solar panels is 2.81 per watt. Using this figure, a typical 6.1-kW system would cost about $12,038 before the 30% federal solar tax credit is applied.
The prices above are just estimates to give you an idea of how much solar panels could cost. The true cost of installing solar panels can vary based on multiple factors, such as how many panels you need, your energy consumption and what solar installer you go with. Many homeowners find going solar is a sound investment. The average homeowner in Grosse Ile can save about $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar installer in your area for a customized estimate.
Solar savings over time in Grosse Ile
| Year | Return on Investment |
|---|---|
| 1 years | $-10,973 |
| 3 years | $-8,842 |
| 5 years | $-6,711 |
| 7 years | $-4,581 |
| 9 years | $-2,450 |
| 11 years | $-319 |
| 13 years | $1,811 |
| 15 years | $3,942 |
| 17 years | $6,073 |
| 19 years | $8,203 |
| 21 years | $10,334 |
| 23 years | $12,465 |
| 25 years | $14,595 |
Top Solar Installers in Grosse Ile
Although you can install solar panels on your own, it takes extra time and handiness. That's one of the reasons almost all homeowners choose a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be best for you.
You can get a free estimate from a local solar installer on how much solar panels could cost for your home. Here are some in Grosse Ile:
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 Grosse Ile
Factors that Affect Solar Panel Costs in Grosse Ile
For many Grosse Ile homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Grosse Ile, with typical prices between $20,000 to $40,000. There are a few factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $2,810. The brand and type of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are an affordable option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years. However, the interest on solar loans also increases your all-in costs, so it's crucial to consider that as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar panel installer you select will impact your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Grosse Ile are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you more money in the long run.
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 | $13,858 | 11.7 years |
| 8 kW | $2.87 | $16,051 | $18,792 | 11.5 years |
| 10 kW | $2.81 | $19,670 | $23,883 | 11.3 years |
| 12 kW | $2.75 | $23,132 | $29,132 | 11.1 years |
| 14 kW | $2.70 | $26,436 | $34,538 | 10.8 years |
| 16 kW | $2.64 | $29,584 | $40,102 | 10.6 years |
| 18 kW | $2.59 | $32,574 | $45,823 | 10.4 years |
| 20 kW | $2.53 | $35,406 | $51,701 | 10.2 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, including:
- Reputation: Solar panel companies that have great reviews from their customers and that have been in business for many years likely offer quality solar panel installation and expertise.
- Contract: Before you sign a contract with a solar installer, make sure to read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so make sure you take a look at their list of offerings before making your decision.
- Warranty: An all-inclusive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
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 Grosse Ile, MI Solar Cost FAQs
What is the average cost of installing solar panels in Grosse Ile?
The average cost of solar panels in Grosse Ile 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 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 Grosse Ile?
You can't get solar panels for free in Grosse Ile. 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 want to own your solar panels, you can finance them with a solar loan.
Is going solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs 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.