Solar Panel Cost Guide in Madison Heights, MI (Jan 2023)
- Madison Heights Solar Installation Cost: $12,156
- 25-Year Savings: $12,964
- Payback Period: 12.1 Years
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Top Solar Installers in Madison Heights
When making the switch to solar, many homeowners opt to hire a solar installation company since DIY solar panel installation can be a challenging project. Solar warranties and repairs are typically included in the cost of installation when you sign a contract with a solar contractor as well, which can save you more money after your upfront investment.
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 nearby:
See all of the solar companies in Madison Heights
Factors that Affect Solar Panel Costs in Madison Heights
For many Madison Heights homeowners, the decision to adopt solar energy comes down to cost. However, the range of solar installation costs can be quite wide in Madison Heights, with typical prices between $20,000 to $40,000. There are numerous factors that considerably influence the price you'll pay, which we'll go over below.
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. For that reason, it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to greater savings over time. Also, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Madison Heights homeowners decide to finance their solar panel systems to make going solar more affordable. You'll have to consider the long-term cost of loans, including the amount of 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 panel installation company you select will play a role in your total cost to make the switch to solar . Different companies will bill different amounts for the equipment and labor. Some companies only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and find a company that provides the products, warranties and services you want and also is 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||$12,125||12.6 years|
|8 kW||$2.87||$16,051||$16,481||12.3 years|
|10 kW||$2.81||$19,670||$20,995||12.1 years|
|12 kW||$2.75||$23,132||$25,666||11.9 years|
|14 kW||$2.70||$26,436||$30,494||11.6 years|
|16 kW||$2.64||$29,584||$35,480||11.4 years|
|18 kW||$2.59||$32,574||$40,623||11.1 years|
|20 kW||$2.53||$35,406||$45,924||10.9 years|
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the kinds 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 keep in mind, including:
- Installation Process: When making the switch to solar, it's crucial to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process will go and the project timeline.
- Contract: Look through the contract terms carefully to make sure you understand the overall cost, project timeline incentives and warranties.
- Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one mark of a quality company.
EcoWatch's Madison Heights, MI Solar Cost FAQs
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.