Solar Panel Cost Guide in Level Park-Oak Park, MI (2023 Update)
- Level Park-Oak Park Solar Installation Cost: $12,011
- 25-Year Savings: $22,221
- Payback Period: 8.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Level Park-Oak Park
Let's take a look at the average cost of solar panels in Level Park-Oak Park.
While the national average of solar panels is $2.66 per watt, solar panels in Level Park-Oak Park typically cost about 2.81. Using this figure, a typical 6.1-kW system would cost about $12,018 before the 30% federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average energy use of Level Park-Oak Park homeowners. The price of a solar system for your home may look 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 return on investment for most homeowners is usually rewarding, with a net average savings of about $21,000 over 20 years on utility bills.
You can click the button below to get connected with a pre-vetted solar installer in Level Park-Oak Park for a quote for your home.
Solar savings over time in Level Park-Oak Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,758 |
| 3 years | $-8,250 |
| 5 years | $-5,743 |
| 7 years | $-3,235 |
| 9 years | $-728 |
| 11 years | $1,779 |
| 13 years | $4,287 |
| 15 years | $6,794 |
| 17 years | $9,301 |
| 19 years | $11,809 |
| 21 years | $14,316 |
| 23 years | $16,824 |
| 25 years | $19,331 |
Top Solar Installers in Level Park-Oak Park
Do-it-yourself solar panel installation is a possibility, but it's an undertaking that can be a pain. Going with an installer can make your swap to solar power much easier. Another benefit of working with a solar installer is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.
If you're looking for a solar installer in Level Park-Oak Park, we've put together 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 Level Park-Oak Park
Factors that Affect Solar Panel Costs in Level Park-Oak Park
The cost of installing a solar system in Level Park-Oak Park can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
The size of the solar energy system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase 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 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 more 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
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Level Park-Oak Park, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible. It's wise to include the interest you'll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it'll take to pay back the loan.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Level Park-Oak Park, you'll have a great number of options to choose from, but each comes at different price points for labor and equipment. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $21,361 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $28,797 | 8.9 years |
| 10 kW | $2.81 | $19,670 | $36,389 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $44,139 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $52,046 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $60,111 | 8.2 years |
| 18 kW | $2.59 | $32,574 | $68,333 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,712 | 7.9 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly impacts your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to do the job well. Another way you can check your installer's reputation is by reading reviews.
- Contract: It's important to read through your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Solar Panel Brands: Different companies carry different brands and types of panels. If you want a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
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 Level Park-Oak Park, MI Solar Cost FAQs
How much does it cost to install solar panels in Level Park-Oak Park?
The average cost of solar panels in Level Park-Oak Park is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on things like the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Level Park-Oak Park?
Solar panels aren't free in Level Park-Oak Park, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
Can solar panels completely eradicate my energy bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and how much sunlight your home gets. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,121.18 per year.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is how much energy they produce will have decreased significantly after that point. You can opt to replace them after having 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.