Solar Panel Cost Guide in Huntington Woods, MI (2024 Update)
- Huntington Woods 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 Huntington Woods
Find out how much it might cost to switch to solar power in Huntington Woods.
Although the national average of solar panels is $2.66 per watt, solar panels in Huntington Woods typically cost around 4.The average solar panel system size in Huntington Woods is around 6.2 kilowatts, meaning a cost of about $17,556 for a solar installation, or $25,105 before the 0 federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar system you want, your solar contractor and more.But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually good, with a net average savings of about $15,000 over 20 years on power bills.
Click the button below to get connected to a vetted solar company in Huntington Woods for a customized estimate.
Solar savings over time in Huntington Woods
| 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 Huntington Woods
Many homeowners opt for a solar installation company since figuring out how to install solar panels by yourself can be a lot of work. Another good thing about going with a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
If you're looking for a solar company in Huntington Woods, the EcoWatch team has organized a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Huntington Woods
Factors that Affect Solar Panel Costs in Huntington Woods
There are many criteria that can affect your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
The size of the solar energy system you need, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by around $4,060. The model of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that are more efficient, like monocrystalline panels, tend to come at a higher price. Further, solar equipment is more than 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 searching for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Huntington Woods provide solar loans, which reduce the initial cost of installing solar panels.You’ll have to consider the long-term cost of loans, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can play a part in your total costs. There are about 3 solar panel companies in Huntington Woods, and each can charge varying amounts for labor and equipment.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
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
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. Two ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating your electrical system or roof.
- Solar Panel Brands: The model of solar panel you want plays a role in which company you should go with, since different companies provide different panels.
- Warranty: Warranties that provide coverage for replacement parts and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one indication of a good company.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
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 Huntington Woods, MI Solar Cost FAQs
What is the average cost of installing solar panels in Huntington Woods?
The average cost of solar panels in Huntington Woods is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the model of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Huntington Woods?
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 property 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.
Do solar panels increase your property value?
Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How long do solar panels last in Huntington Woods?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level of energy production.
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.