Solar Panel Cost Guide in Highland Park, MI (2023 Update)
- Highland Park Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Highland Park
Find out how much it might cost to make the switch to solar in Highland Park.
The national average cost of solar panels is $2.66 per watt, but in Highland Park it's 2.81 per watt. The average Highland Park homeowner needs a 6.1-kilowatt system, which would cost about $12,038 with the federal tax credit, or $17,214 before the 30% tax credit is applied.
How much you pay can be higher or lower than the average in Highland Park based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. With average savings of about $16,000 on utility bills over 20 years, many homeowners in Highland Park find investing in solar has a decent ROI.
Click the button below to get connected to a reputable solar installer in Highland Park for a custom quote.
Solar savings over time in Highland Park
| Year | Return on Investment |
|---|---|
| 1 years | $-11,033 |
| 3 years | $-9,024 |
| 5 years | $-7,014 |
| 7 years | $-5,005 |
| 9 years | $-2,995 |
| 11 years | $-985 |
| 13 years | $1,024 |
| 15 years | $3,034 |
| 17 years | $5,043 |
| 19 years | $7,053 |
| 21 years | $9,063 |
| 23 years | $11,072 |
| 25 years | $13,082 |
Top Solar Installers in Highland Park
Many homeowners opt for a solar panel installer since trying to put up solar panels by yourself can be a labor-intensive endeavor. Companies can also provide access to a large variety of the best solar panels and help you decide which one will be right for your family.
If you're looking for a solar installer in Highland Park, we've compiled a list of our top suggestions here:
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 Highland Park
Factors that Affect Solar Panel Costs in Highland Park
Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that will push your cost above or below the average in Highland Park: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
Solar Equipment
When it comes to estimating the cost of a solar panel system in Highland Park, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home's energy usage, which you can gauge by looking at past power bills. Your total cost can increase by around $2,810 for each additional kilowatt you need. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Highland Park, 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 more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Highland Park offer solar loans, which reduce the initial cost of installing a solar system. Although solar loans make going solar more accessible for Highland Park homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence your pricing. Highland Park's solar companies all have different labor costs and add varying upcharges to equipment. 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 cost more. It's best to do some research and decide on the company that provides the products, warranties and services you're looking for and also fit into 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 | $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 model of solar panels and the installer you choose considerably affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should make sure they know how exactly the installation process will go, as well as important factors like the project completion timeline.
- Reputation: Make sure your solar company has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
- Contract: It's important to read through your solar installer's contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Highland Park, MI Solar Cost FAQs
What is the average cost of installing solar panels in Highland Park?
The average cost of solar panels in Highland Park is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Highland Park?
You can't get solar panels for free in Highland Park. 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'd rather own your solar panels, you can finance them with a solar loan.
How will installing solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Highland Park is currently $45,300, so you can expect a value of about $1,857 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Highland Park is a worthwhile investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.