Solar Panel Cost Guide in Redford, MI (2023 Update)
- Redford Solar Installation Cost: $12,028
- 25-Year Savings: $13,091
- Payback Period: 12.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Redford
We break down average solar pricing in Redford.
In Redford, solar panels cost about 2.81 per watt on average. Because a 6.1-kW system is needed to cover the energy consumption of a typical home in Redford, the average price of going solar will be about $12,038 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will vary based on the amount of energy your home requires and what company you go with. Many homeowners find going solar is a fruitful investment. The average homeowner in Redford can save around $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom estimate.
Solar savings over time in Redford
| Year | Return on Investment |
|---|---|
| 1 years | $-10,636 |
| 3 years | $-7,851 |
| 5 years | $-5,067 |
| 7 years | $-2,282 |
| 9 years | $503 |
| 11 years | $3,287 |
| 13 years | $6,072 |
| 15 years | $8,857 |
| 17 years | $11,641 |
| 19 years | $14,426 |
| 21 years | $17,211 |
| 23 years | $19,995 |
| 25 years | $22,780 |
Top Solar Installers in Redford
Although it's possible to install solar panels by yourself, it involves extra time and expertise. For that reason, most homeowners choose to hire a solar panel installer. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be right for your home.
If you'd like to go solar but still aren't certain which solar system installer to go with, here are our recommendations for providers nearby:
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 Redford
Factors that Affect Solar Panel Costs in Redford
The cost of installing a solar system in Redford can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The largest one is your system size, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power production require better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. The type of solar panels and equipment you get is another factor that will substantially impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Plus, solar equipment is more than just the solar panels themselves. You'll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a solid route because they lower your upfront costs and let you pay for your system over five to seven years on average. While solar loans make adopting solar energy more accessible for Redford 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
A final consideration when trying to evaluate the cost of solar for your home or business in Redford is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, you'll have no shortage of solar installers that provide a range of services for different budgets. Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric vehicle charger installation, they might be cheaper overall.
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 | $12,373 | 12.4 years |
| 8 kW | $2.87 | $16,051 | $16,812 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,408 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,162 | 11.7 years |
| 14 kW | $2.70 | $26,436 | $31,073 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $36,141 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,367 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,750 | 10.8 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 decide on the right company for you, here are some tips to keep in mind:
- Contract: When looking over 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 like a system component breaking or if the company goes out of business.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which brand of solar panel you can get, not every company will have the exact one you may want or need, so be sure to peruse their list of options before making your decision.
- Installation Process: Make sure you're aligned with the company with regard to how the installation process will go and what you need to do before your solar system is installed, such as repairing your electrical system or roof.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely 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 Redford, MI Solar Cost FAQs
How much does it cost to install solar panels in Redford?
This is a hard question to answer exactly, 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 flip side, you can spend less if you opt for a smaller solar panel system or cheaper solar panels.
What other factors should I consider aside from cost when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Redford is currently $84,749, which means you can expect a value of about $3,475 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Redford is a rewarding investment.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy usage and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to get between 20 and 35 panels to cover their typical energy usage.
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.