Solar Panel Cost Guide in Highland, MI (2024 Update)
- Highland Solar Installation Cost: $17,556
- 25-Year Savings: $16,386
- Payback Period: 16.7 Years
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Average Cost of Solar Panels in Highland
We go over average solar pricing in Highland.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Highland, the typical cost of solar panels is 4 per watt.To account for the typical energy usage of the average home in Highland, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $17,556, or $25,105 before the federal solar tax credit of 0 is applied.
Remember that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $16,000 over 20 years on electricity bills.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Highland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,198 |
| 3 years | $-13,483 |
| 5 years | $-10,767 |
| 7 years | $-8,052 |
| 9 years | $-5,337 |
| 11 years | $-2,621 |
| 13 years | $94 |
| 15 years | $2,809 |
| 17 years | $5,525 |
| 19 years | $8,240 |
| 21 years | $10,955 |
| 23 years | $13,671 |
| 25 years | $16,386 |
Top Solar Installers in Highland
DIY solar panel installation is a way to cut costs, but it's an undertaking that can take a lot of hard work. Hiring 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’d like to go solar but still aren’t sure which solar panel installer to go with, here are our recommendations for providers nearby:
See all of the solar companies in Highland
Factors that Affect Solar Panel Costs in Highland
Although the average cost of a solar system in Highland is $17,556, your final cost may differ. There are several factors that can have a major impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
When it comes to estimating the price of a solar system in Highland, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can figure out by looking at past power bills. Your overall cost can increase by about $4,060 for each additional kilowatt you need.The brand and type of equipment you get 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 limited roof space 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. Also, if you want additional equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system out of pocket is out of reach, solar loans are a popular route because they cut back your upfront costs and let you pay for your system over five to seven years on average.However, the interest on solar loans also adds to your all-in costs, so it’s important to consider that as well. You can always bring down the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Highland is the company you get to install your solar panel system. Similar to choosing a company to install new cabinets, for example, there are plenty of solar installers that provide a range of services for different budgets.Some companies 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 come at a higher cost. It’s best to do some research and choose a 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 | $4.22 | $17,734 | $7,764 | 17.4 years |
| 8 kW | $4.14 | $23,191 | $10,807 | 17.1 years |
| 10 kW | $4.06 | $28,420 | $14,077 | 16.7 years |
| 12 kW | $3.98 | $33,422 | $17,574 | 16.4 years |
| 14 kW | $3.90 | $38,196 | $21,299 | 16.1 years |
| 16 kW | $3.82 | $42,744 | $25,251 | 15.7 years |
| 18 kW | $3.74 | $47,064 | $29,431 | 15.4 years |
| 20 kW | $3.65 | $51,156 | $33,838 | 15.0 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Contract: Before signing a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Warranty: If you’re worried about the longevity of your solar panel system, verifying that your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: When going solar, it’s crucial to maintain an open line of communication with your solar company. Make sure you understand how the installation process will go and the project completion timeline.
- Reputation: Companies that have been operating for many years likely have a solid 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 service, such as part repairs and replacements.
EcoWatch's Highland, MI Solar Cost FAQs
What is the average cost of installing solar panels in Highland?
This is a difficult question to answer exactly, because the cost depends on a few different factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Highland?
You can’t get solar panels for free in Highland. However, you may still be able to install them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Is it worth going solar in Highland?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and how much direct sunlight your roof gets.
How often do you have to replace solar panels?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can choose 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.