Solar Panel Cost Guide in Lincoln Park, MI (2023 Update)
- Lincoln Park Solar Installation Cost: $12,038
- 25-Year Savings: $15,605
- Payback Period: 10.9 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 Lincoln Park
We break down average solar pricing in Lincoln Park.
Although the national average of solar panels is $2.66 per watt, solar panels in Lincoln Park typically cost about 2.81. To account for the typical energy needs of the average home in Lincoln Park, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,038, or $17,214 before the federal solar tax credit of 30% is applied.
These figures are only averages, and your own solar costs will most likely look different based on your specific situation and what company you choose to go with. But, once you've paid the initial cost of installation, the savings for most homeowners is typically fruitful, with a net average savings of about $17,000 over 20 years on utility bills.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Lincoln Park
| Year | Return on Investment |
|---|---|
| 1 years | $-10,932 |
| 3 years | $-8,721 |
| 5 years | $-6,509 |
| 7 years | $-4,298 |
| 9 years | $-2,087 |
| 11 years | $125 |
| 13 years | $2,336 |
| 15 years | $4,548 |
| 17 years | $6,759 |
| 19 years | $8,970 |
| 21 years | $11,182 |
| 23 years | $13,393 |
| 25 years | $15,605 |
Top Solar Installers in Lincoln Park
Although it's possible to install solar panels by yourself, it involves extra effort and handiness. That's why the majority of homeowners choose to go with a solar panel installer. Companies can also offer access to quality options of the best solar panels and help you decide which one will be right for you.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Lincoln Park:
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 Lincoln Park
Factors that Affect Solar Panel Costs in Lincoln Park
The cost of installing a solar system in Lincoln Park can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your household needs, and other factors include equipment choices, financing options and the solar company you choose.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Lincoln Park. Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Lincoln Park, where sunlight isn't as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lincoln Park to be too costly, even if the investment pays off over time. Thankfully, nearly every solar company in the area offers financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to higher prices over time due to interest. It's wise to factor 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 solar company you hire to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar panel companies operating in Lincoln Park, and each can charge varying amounts for labor and equipment. The size of the company sometimes plays the most considerable role in the cost. Larger national companies, like SunPro and Sunrun, often have lower prices due to greater resources and bulk 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 down to compete with bigger names.
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 | $14,848 | 11.3 years |
| 8 kW | $2.87 | $16,051 | $20,112 | 11.1 years |
| 10 kW | $2.81 | $19,670 | $25,534 | 10.9 years |
| 12 kW | $2.75 | $23,132 | $31,112 | 10.7 years |
| 14 kW | $2.70 | $26,436 | $36,849 | 10.4 years |
| 16 kW | $2.64 | $29,584 | $42,742 | 10.2 years |
| 18 kW | $2.59 | $32,574 | $48,793 | 10.0 years |
| 20 kW | $2.53 | $35,406 | $55,001 | 9.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Before you sign a contract with a solar company, make sure you look it over fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and what services you can expect from them.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
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 Lincoln Park, MI Solar Cost FAQs
What is the average cost of installing solar panels in Lincoln Park?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have above-average energy consumption. On the other hand, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Lincoln Park?
You can't get solar panels for free in Lincoln Park. 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 prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my power bills?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $904.07 per year.
How long do solar panels last in Lincoln Park?
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 choose 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.