Solar Panel Cost Guide in Oak Park, MI (Feb 2023)

  • Oak Park Solar Installation Cost: $12,156
  • 25-Year Savings: $12,964
  • Payback Period: 12.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Oak Park

We go over average solar pricing in Oak Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Oak Park, the average cost of solar panels is $3 per watt. The average Oak Park homeowner needs a 6.2-kilowatt system, which would cost about $12,156, or $8,995 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Oak Park homeowners. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor. Despite the significant upfront cost, the average Oak Park homeowner can save around $15,000 on their electricity bills over 20 years, which is one of the perks of solar.

You can click the button below to get connected with a pre-vetted solar company in Oak Park that can help you get a more accurate cost estimate for your home.

Solar savings over time in Oak Park

Year Return on Investment
1 years $-11,151
3 years $-9,142
5 years $-7,132
7 years $-5,123
9 years $-3,113
11 years $-1,103
13 years $906
15 years $2,916
17 years $4,925
19 years $6,935
21 years $8,945
23 years $10,954
25 years $12,964

Top Solar Installers in Oak Park

Putting up solar panels by yourself can be a stressful project, which is why getting a solar installer is a good option for many homeowners. Another advantage of utilizing a solar installer is that they can help you optimize your return of investment by bringing down your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.

If you'd like to go solar but still aren't sure which solar company to go with, here are our suggestions for providers nearby:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Oak Park

Factors that Affect Solar Panel Costs in Oak Park

For many Oak Park homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Oak Park, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you'll pay, which we'll go over below.

Solar Equipment

Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bring your total well above the Oak Park average.

Solar Financing Terms

Most solar companies in Oak Park have solar loans, which reduce your upfront costs of installing solar. 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 more than the principal cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The last key cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Oak Park, you'll have lots of options to choose from, but each comes at different price points for labor and equipment. Companies that only sell high-quality, high-efficiency and high-price products — 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 choose a company that provides the products, warranties and services you're looking for 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

There are numerous companies to choose from in Oak Park, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:

  • Solar Panel Brands: Not all solar installers offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
  • Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
  • Reputation: Make sure your solar installer has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Warranty: Warranties that cover panel repairs and maintenance over a long period of time such as 25 years are the best you can get in the business, and offering such a warranty is one indication of a quality company.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Oak Park, MI Solar Cost FAQs

How much does it cost to install solar panels in Oak Park?

The average cost of solar panels in Oak Park is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the type of solar panels you want, what size system you need and how much energy you use.

Is cost the most important consideration when buying solar panels?

Cost is certainly 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 Oak Park is currently $117,700, which means you can look forward to a value of about $4,826 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Oak Park is a worthwhile investment.

How long do solar panels last in Oak Park?

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.

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