Solar Panel Cost Guide in Hillsdale, MI (2023 Update)
- Hillsdale Solar Installation Cost: $11,959
- 25-Year Savings: $21,990
- Payback Period: 8.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Hillsdale
Find out what the average cost of a solar system is in Hillsdale.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Hillsdale, the average cost of a solar system is 2.81 per watt. To account for the typical energy usage of the average home in Hillsdale, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $11,959, or $17,101 before the federal solar tax credit of 30% is applied.
Keep in mind that the figures above are only estimates based on the average Hillsdale homeowner. 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. With average savings of about $21,000 on power bills over 20 years, many homeowners in Hillsdale find installing solar panels has a decent ROI.
You can click the button below to get connected with a top solar company in Hillsdale that can help you get a more accurate cost estimate for your home.
Solar savings over time in Hillsdale
| Year | Return on Investment |
|---|---|
| 1 years | $-10,601 |
| 3 years | $-7,885 |
| 5 years | $-5,169 |
| 7 years | $-2,453 |
| 9 years | $262 |
| 11 years | $2,978 |
| 13 years | $5,694 |
| 15 years | $8,410 |
| 17 years | $11,126 |
| 19 years | $13,842 |
| 21 years | $16,558 |
| 23 years | $19,274 |
| 25 years | $21,990 |
Top Solar Installers in Hillsdale
Putting up solar panels yourself can be a stressful undertaking, which is why hiring a solar installer is a good option for many homeowners. Plus, if you aren't sure what type of solar panels and equipment you want, a solar expert can help you find the right equipment for you after a site survey and consultation.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Hillsdale
Factors that Affect Solar Panel Costs in Hillsdale
While the average cost of a solar system in Hillsdale is $11,959, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a residential solar panel installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a variety of factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. The brand and type of equipment you get for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for a solar system in cash is out of reach, solar loans are a solid route because they decrease your upfront costs and let you pay for your system over five to seven years on average. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Hillsdale is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services at different price points. 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 find a company that provides the products, warranties and services you want and also fits 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 | $2.92 | $12,274 | $21,203 | 9.2 years |
| 8 kW | $2.87 | $16,051 | $28,585 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,125 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $43,822 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $51,676 | 8.5 years |
| 16 kW | $2.64 | $29,584 | $59,688 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $67,857 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,184 | 7.9 years |
How to Save on Solar Panels
The solar company you choose will affect not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to ask for their list of offerings before making your decision.
- Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Contract: When reading through your solar company's contract, ask for clarification about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Installation Process: When making the switch to solar power, it's necessary to keep an open line of communication with your solar company. Confirm that you understand how the installation process works 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
EcoWatch's Hillsdale, MI Solar Cost FAQs
What is the average cost of installing solar panels in Hillsdale?
This is a difficult question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Is cost the most important consideration when buying solar panels?
Cost is definitely one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Hillsdale is currently $114,980, which means you could be looking at a value of about $4,714 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Hillsdale is a rewarding investment.
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 usually produce about 250 to 400 watt-hours per hour, the average home 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.