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

  • Park Solar Installation Cost: $11,664
  • 25-Year Savings: $21,840
  • Payback Period: 8.7 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

Why you can trust EcoWatch

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 Park

Find out what the average cost of installing solar panels is in Park.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Park, the typical cost of solar panels is $3 per watt. The average Park homeowner needs a 5.9-kilowatt system, which would cost about $11,664, or $8,631 after the federal solar tax credit of 30% is applied.

These figures are only estimates, and your own solar costs will differ based on your specific situation and what company you want to go with. Many homeowners find installing a solar panel system is a sound investment. The average homeowner in Park can save around $21,000 on their electricity bills over 20 years.

For a customized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.

Solar savings over time in Park

Year Return on Investment
1 years $-10,324
3 years $-7,644
5 years $-4,963
7 years $-2,283
9 years $397
11 years $3,078
13 years $5,758
15 years $8,438
17 years $11,119
19 years $13,799
21 years $16,479
23 years $19,160
25 years $21,840

Top Solar Installers in Park

Trying to put up solar panels yourself can be a difficult project, which is why getting a solar installer is a good option for many homeowners. In addition, if you'd like to maximize your investment in solar power, going with a solar company can help with that too. Different providers can offer warranties, expertise on solar panel installation and sometimes even information on local incentives, rebates and net metering programs.

There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:

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 Park

Factors that Affect Solar Panel Costs in Park

The cost of installing a solar system in Park can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is the size of the system you need, and other factors include equipment choices, financing options and the solar company you choose.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. For that reason, it's crucial 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 bring your price up or down 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. However, more efficient panels could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bring your total well above the Park average.

Solar Financing Terms

Solar panels can save you money on energy bills over time, but they can also be a big investment. That's why many Park homeowners opt to finance their solar panel systems to make paying for solar more affordable. However, the interest on solar loans also increases your overall costs, so it's important to keep that in mind as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The solar panel installation company you choose will influence your total cost to make the switch to solar energy. Different companies will charge different amounts for the equipment and labor. The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to access to greater resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower 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 $21,625 9.1 years
8 kW $2.87 $16,051 $29,148 8.9 years
10 kW $2.81 $19,670 $36,828 8.7 years
12 kW $2.75 $23,132 $44,666 8.5 years
14 kW $2.70 $26,436 $52,661 8.4 years
16 kW $2.64 $29,584 $60,813 8.2 years
18 kW $2.59 $32,574 $69,123 8.0 years
20 kW $2.53 $35,406 $77,590 7.8 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:

  • Solar Panel Brands: The brand of solar panel you need to get plays a part in which installer you should choose, since different companies provide different panels.
  • Contract: It's important to look over your solar installer's contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about your solar system's energy production.
  • Warranty: A comprehensive, long-term warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
  • Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer high-quality solar panel installation and expertise.

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 Park, MI Solar Cost FAQs

What is the average cost of installing solar panels in Park?

This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly 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 extra solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.

How will installing solar panels impact my property value?

Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Park is currently $175,573, so you can expect a value of about $7,198 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Park is a fruitful investment.

What solar power system size is right for my home?

To figure out what solar panel system size you need, you need to know how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.

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.

Follow us