Solar Panel Cost Guide in Grosse Pointe Farms, MI (2024 Update)
- Grosse Pointe Farms Solar Installation Cost: $17,379
- 25-Year Savings: $13,091
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Grosse Pointe Farms
See how much it might cost to make the switch to solar in Grosse Pointe Farms.
The national average cost of solar panels is $2.66 per watt, but in Grosse Pointe Farms it’s 4 per watt.Using this figure, a typical 6.1-kW system would cost about $17,379 before the 0 federal solar tax credit is applied.
These figures are just estimates, and your own solar costs will differ based on factors unique to your home and what company you go with.For many homeowners, the upfront investment in solar power is worth paying. On average Grosse Pointe Farms homeowners see about $16,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Grosse Pointe Farms that can help you get a more accurate cost estimate for your home.
Solar savings over time in Grosse Pointe Farms
Year | Return on Investment |
---|---|
1 years | $-15,987 |
3 years | $-13,202 |
5 years | $-10,417 |
7 years | $-7,633 |
9 years | $-4,848 |
11 years | $-2,063 |
13 years | $721 |
15 years | $3,506 |
17 years | $6,291 |
19 years | $9,075 |
21 years | $11,860 |
23 years | $14,645 |
25 years | $17,429 |
Top Solar Installers in Grosse Pointe Farms
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Using a solar company can make swapping over to solar power much easier. Plus, if you’d like to maximize your investment in solar energy, opting for a solar company can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives.
Working with a professional solar company can make going solar easier. Here are our recommendations:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Grosse Pointe Farms
Factors that Affect Solar Panel Costs in Grosse Pointe Farms
Cost is often one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that will push your cost above or below the average in Grosse Pointe Farms: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $4,060. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Grosse Pointe Farms, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or you don’t have a lot of 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
If paying for solar panels in cash is difficult, solar loans are an affordable choice because they cut back your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.It’s a good idea to add 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
The last key cost factor you should take into consideration is the installer you choose. Given the growing popularity of clean energy solutions in Grosse Pointe Farms, you’ll have lots of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies compete with them by offering 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 car 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 | $6,913 | 18.0 years |
8 kW | $4.14 | $23,191 | $9,672 | 17.6 years |
10 kW | $4.06 | $28,420 | $12,658 | 17.3 years |
12 kW | $3.98 | $33,422 | $15,872 | 17.0 years |
14 kW | $3.90 | $38,196 | $19,313 | 16.6 years |
16 kW | $3.82 | $42,744 | $22,981 | 16.3 years |
18 kW | $3.74 | $47,064 | $26,877 | 15.9 years |
20 kW | $3.65 | $51,156 | $31,000 | 15.6 years |
How to Save on Solar Panels
The solar installer you opt for will be a major factor in determining 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 several important things you should consider, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you need to know with your solar installer, such as what permits you should secure and what the project timeline is.
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and how much efficiency they need. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Grosse Pointe Farms, MI Solar Cost FAQs
What is the average cost of installing solar panels in Grosse Pointe Farms?
This is a hard question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Is it better to lease or buy solar panels in Grosse Pointe Farms?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
How much can I save on power bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $821.56 per year.
How many solar panels should I get to power my home?
To figure out what solar panel system size 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 typically 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.