Solar Panel Cost Guide in Wayne, MI (Feb 2023)
- Wayne Solar Installation Cost: $12,038
- 25-Year Savings: $13,082
- Payback Period: 12.0 Years
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Top Solar Installers in Wayne
Trying to install solar panels by yourself can be a time-consuming project, which is why using a solar installation company is a good option for many homeowners. The expertise that solar companies offer can be useful as well, especially if you aren't sure what brand of solar equipment you need.
There are various licensed solar professionals that can help you install your solar panels. Here are our suggestions:
See all of the solar companies in Wayne
Factors that Affect Solar Panel Costs in Wayne
The cost of installing a solar system in Wayne can vary by more than $10,000 from home to home. Your actual cost is dependent on several factors. The biggest one is the size of the system your home needs, and other factors include equipment choices, financing options and the solar company you choose.
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have greater 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 kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you opt for 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 in the long run on your electric bills. Additionally, extra products, like solar batteries, can bring your total well above the Wayne average.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Wayne homeowners decide to finance their solar panel systems to make paying for solar more affordable. Though solar loans make going solar more accessible for Wayne homeowners, they can also raise the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The final major cost factor you should consider is the installer you choose. Given the growing popularity of green energy solutions in Wayne, you'll have plenty of options to choose from, but each comes at varying price points for labor and equipment. The company's size can sometimes play the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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
The solar company you choose will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Reputation: Companies that have been operating for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- 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 like a system component breaking or if the company goes out of business.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one indication of a good company.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
EcoWatch's Wayne, 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.