Solar Panel Cost Guide in Park, MI (2024 Update)

  • Park Solar Installation Cost: $16,853
  • 25-Year Savings: $14,489
  • Payback Period: 12.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Park

See how much it might cost to switch to solar power in Park.

Although the national average of solar panels is $2.66 per watt, solar panels in Park generally cost about 4.To cover the typical energy needs of the average home in Park, most homeowners require a 5.9-kilowatt system. Using the per-watt figure above, a solar installation costs about $16,853, or $24,100 before the federal solar tax credit of 0 is applied.

These figures are just averages, and how much solar costs for you may vary based on your energy needs and what company you go with.But, after you've paid the upfront cost of installation, the ROI for most homeowners is typically rewarding, with a net average savings of about $21,000 over 20 years on electricity bills.

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

Solar savings over time in Park

Year Return on Investment
1 years $-15,600
3 years $-13,092
5 years $-10,585
7 years $-8,078
9 years $-5,570
11 years $-3,063
13 years $-555
15 years $1,952
17 years $4,459
19 years $6,967
21 years $9,474
23 years $11,982
25 years $14,489

Top Solar Installers in Park

Trying to put up solar panels yourself can be a stressful undertaking, which is why using a solar installer is a good option for many homeowners. Solar warranties and repairs are typically included in the cost of installation when you opt for a solar company too, which can save you more money over time.

There are various licensed solar professionals that can install solar panels for you. 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

Cost is often one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Park: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a 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 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

Most solar companies in Park have solar loans, which reduce your upfront costs of installing a solar system.Though solar loans make switching to solar energy more accessible for Park homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Finally, the company you opt for to install your solar panels can affect how much you pay. Park’s solar companies all have different labor costs and add varying upcharges to equipment. You may notice national solar installers that have lower prices due to their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or promotions to compete with those larger companies.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $4.22 $17,734 $16,165 13.1 years
8 kW $4.14 $23,191 $22,008 12.8 years
10 kW $4.06 $28,420 $28,078 12.6 years
12 kW $3.98 $33,422 $34,376 12.3 years
14 kW $3.90 $38,196 $40,901 12.1 years
16 kW $3.82 $42,744 $47,653 11.8 years
18 kW $3.74 $47,064 $54,633 11.6 years
20 kW $3.65 $51,156 $61,840 11.3 years

How to Save on Solar Panels

The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be difficult, we have some tips to help you, such as:

  • 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 likely has a solid reputation and is qualified to get the job done well. Another way you can verify your installer’s reputation is by reading reviews.
  • Warranty: If you’re worried about the longevity of your solar system, checking if your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
  • Contract: When looking through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system part breaking or the company going out of business.
  • Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.

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?

The average cost of solar panels in Park is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Park?

Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don’t own the system, you can’t take advantage of many solar incentives. Also your property value won’t increase, so you’ll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.

How will having solar panels impact the value of my home?

Solar panels can increase the value of your home considerably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can replace them once you've had them for that long or you can keep using 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.

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