Solar Panel Cost Guide in Grosse Pointe Woods, MI (Jan 2023)
- Grosse Pointe Woods Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Top Solar Installers in Grosse Pointe Woods
DIY solar panel installation is a way to cut costs, but it's an undertaking that can use up a lot of your time and energy. Going with an installer can make your swap to solar power much easier. A solar installer can also help save you money over the lifespan of your system by providing warranties, repairs and part replacements.
If you're searching for a solar installer in Grosse Pointe Woods, the EcoWatch team has compiled a list of our top suggestions here:
See all of the solar companies in Grosse Pointe Woods
Factors that Affect Solar Panel Costs in Grosse Pointe Woods
For many Grosse Pointe Woods homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Grosse Pointe Woods, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household uses, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Grosse Pointe Woods. The kind of solar panels and equipment you want is another factor that will largely influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more costly. Further, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when looking into a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Grosse Pointe Woods homeowners choose to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your all-in costs, so it's vital to consider that as well. You can always bring down the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar panel installer you choose will play a role in your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor. The size of the company can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.
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||$12,373||12.4 years|
|8 kW||$2.87||$16,051||$16,812||12.2 years|
|10 kW||$2.81||$19,670||$21,408||12.0 years|
|12 kW||$2.75||$23,132||$26,162||11.7 years|
|14 kW||$2.70||$26,436||$31,073||11.5 years|
|16 kW||$2.64||$29,584||$36,141||11.3 years|
|18 kW||$2.59||$32,574||$41,367||11.0 years|
|20 kW||$2.53||$35,406||$46,750||10.8 years|
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose significantly impacts your costs and your system's efficiency, production, and durability, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Look through the contract terms carefully to make sure you understand the total cost, project completion timeline incentives and warranties.
- Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on repairs and maintenance.
- 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 substantial role in the company you go with.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can research your installer's reputation is by reading reviews.
EcoWatch's Grosse Pointe Woods, MI Solar Cost FAQs
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.