Solar Panel Cost Guide in Hazel Park, MI (2024 Update)
- Hazel Park Solar Installation Cost: $17,556
- 25-Year Savings: $12,969
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Hazel Park
We break down average solar pricing in Hazel Park.
In Hazel Park, solar panels cost about 4 per watt on average.Using this figure, a typical 6.2-kW system would cost about $17,556 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Hazel Park homeowners. The cost of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.But, once you've paid the initial cost of installation, the savings for most homeowners is quite fruitful, with a net average savings of about $15,000 over 20 years on energy bills.
You can click the button below to get connected with a top solar company in Hazel Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hazel Park
| Year | Return on Investment |
|---|---|
| 1 years | $-16,163 |
| 3 years | $-13,379 |
| 5 years | $-10,594 |
| 7 years | $-7,809 |
| 9 years | $-5,025 |
| 11 years | $-2,240 |
| 13 years | $545 |
| 15 years | $3,329 |
| 17 years | $6,114 |
| 19 years | $8,899 |
| 21 years | $11,683 |
| 23 years | $14,468 |
| 25 years | $17,253 |
Top Solar Installers in Hazel Park
Putting up solar panels yourself can be a time-consuming undertaking, which is why using a solar installation company is a good option for many homeowners. A solar company can also help save you money over time by providing warranties, repairs and part replacements.
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 in Hazel Park:
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 Hazel Park
Factors that Affect Solar Panel Costs in Hazel Park
The cost of installing a solar system in Hazel Park can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are a lot of different solar panel brands and the one you pick also changes the cost. In many cases, the brands that are more efficient tend to also cost more. Plus, the type of equipment you want to install can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Many homeowners find the average cost of solar in Hazel Park to be prohibitively costly, even if the investment pays off over time. Fortunately, almost every solar company in the area provides financing options. Solar loans remarkably decrease upfront costs in most cases, but they also lead to higher prices over time because of interest.When considering your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more upfront can lower the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Hazel Park is the company you hire to install your solar system. As with choosing a company to build a deck or pool, for instance, there’s no shortage of solar installers that provide a range of services for different budgets.Larger national companies typically 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 additional services like electric vehicle 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 | $6,665 | 18.2 years |
| 8 kW | $4.14 | $23,191 | $9,341 | 17.8 years |
| 10 kW | $4.06 | $28,420 | $12,245 | 17.5 years |
| 12 kW | $3.98 | $33,422 | $15,376 | 17.1 years |
| 14 kW | $3.90 | $38,196 | $18,734 | 16.8 years |
| 16 kW | $3.82 | $42,744 | $22,320 | 16.4 years |
| 18 kW | $3.74 | $47,064 | $26,133 | 16.1 years |
| 20 kW | $3.65 | $51,156 | $30,174 | 15.7 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on 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: Although reading through a contract can be tedious, it’s important to do it fully so you can make sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Warranty: Warranties that cover panel repairs and maintenance over around 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Long-running companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Installation Process: When going solar, it’s important to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project completion timeline.
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 Hazel Park, MI Solar Cost FAQs
What is the average cost of installing solar panels in Hazel Park?
This is a difficult question to answer precisely, because the cost depends on a few different 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Hazel Park?
Leasing solar panels can be an option if you can’t 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 home 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 financial benefits from going solar.
How will installing solar panels impact how much my home is worth?
Solar panels can increase your home value significantly as long as you buy or finance your panels and don’t choose 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 long do solar panels last in Hazel Park?
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 how much energy they produce will have decreased significantly after that point. You can decide to replace them once you've had 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.