Solar Panel Cost Guide in Romulus, MI (Feb 2023)
- Romulus Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
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Top Solar Installers in Romulus
Putting up solar panels on your own can be a stressful project, which is why hiring a solar installer is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you decide which one will be right for you.
If you'd like to go solar but still aren't certain which solar company to go with, here are our recommendations for providers nearby:
See all of the solar companies in Romulus
Factors that Affect Solar Panel Costs in Romulus
For many Romulus homeowners, the decision to install solar panels comes down to cost. However, the range of solar installation costs can be quite wide in Romulus, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
The cost of solar panel systems varies by thousands of dollars due to some different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation 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 brand and kind of equipment you want for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are offered by most installers in Romulus, which can lower, or in some cases eliminate, your upfront costs to make solar more accessible. However, the interest on solar loans also adds to your total costs, so it's crucial to take that into consideration as well. You can always lower the total you pay in interest and sometimes even your APR by putting more money down.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Romulus is the company you hire to install your solar system. As with choosing a company to renovate your kitchen, for instance, you'll have no shortage of solar installers that offer a range of services at different costs. You may come across national solar installers that have lower prices due to their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 companies available in Romulus, and some homeowners feel overwhelmed considering their options. Selecting the right company for you can be tough, so here are some tips to help you decide:
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Reputation: Long-standing companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Contract: Although reading through a contract can take a lot of time, it's important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
EcoWatch's Romulus, 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.