Solar Panel Cost Guide in Westwood, MI (2024 Update)
- Westwood Solar Installation Cost: $17,318
- 25-Year Savings: $23,036
- Payback Period: 12.4 Years
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Average Cost of Solar Panels in Westwood
Find out what the average cost of installing solar panels is in Westwood.
The average cost of a solar system in Westwood is 4 per watt.The average solar panel system size in Westwood is around 6.1 kilowatts, meaning a cost of about $17,318 for a solar installation, or $24,765 before the 0 federal solar tax credit is applied.
Bear in mind that the figures above are only estimates based on the average Westwood homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, after you've paid the upfront cost of installation, the return on investment for most homeowners is usually fruitful, with a net average savings of about $22,000 over 20 years on electricity bills.
For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Westwood
| Year | Return on Investment |
|---|---|
| 1 years | $-16,065 |
| 3 years | $-13,557 |
| 5 years | $-11,050 |
| 7 years | $-8,542 |
| 9 years | $-6,035 |
| 11 years | $-3,528 |
| 13 years | $-1,020 |
| 15 years | $1,487 |
| 17 years | $3,995 |
| 19 years | $6,502 |
| 21 years | $9,009 |
| 23 years | $11,517 |
| 25 years | $14,024 |
Top Solar Installers in Westwood
Many homeowners choose to hire a solar installation company since figuring out how to install solar panels by yourself can be a lot of work. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long run due to their warranties, repair services and expert design.
You can get a free quote from a local solar installer on how much solar panels could cost for your home. Here are some near you:
See all of the solar companies in Westwood
Factors that Affect Solar Panel Costs in Westwood
There are a number of factors that can influence your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that performs the installation.
Solar Equipment
When it comes to estimating the price of a solar energy system in Westwood, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy consumption, which you can gauge by looking at past energy bills. Your total cost can increase by about $4,060 for each additional kilowatt you need.The model of solar panels and equipment you want is another factor that will significantly impact costs. Solar panels that are more efficient, like monocrystalline panels, tend to cost more. Moreover, 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 looking into a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on utility bills over many years, but they can also be a significant investment. That’s why many Westwood homeowners choose to finance their solar panel systems to make going solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to figure out the cost of solar for your home or business in Westwood is the company you hire to install your solar system. As with choosing a company to install new cabinets, for instance, there are plenty of solar installers that offer a range of services for different budgets.The size of the company can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to greater 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 promotion 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 | $4.22 | $17,734 | $16,749 | 12.9 years |
| 8 kW | $4.14 | $23,191 | $22,787 | 12.6 years |
| 10 kW | $4.06 | $28,420 | $29,052 | 12.4 years |
| 12 kW | $3.98 | $33,422 | $35,545 | 12.1 years |
| 14 kW | $3.90 | $38,196 | $42,265 | 11.9 years |
| 16 kW | $3.82 | $42,744 | $49,212 | 11.6 years |
| 18 kW | $3.74 | $47,064 | $56,387 | 11.4 years |
| 20 kW | $3.65 | $51,156 | $63,789 | 11.1 years |
How to Save on Solar Panels
There are many companies available in Westwood, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: When making the switch to solar, it’s essential to keep an open line of communication with your solar company. See to it that you understand how the installation process will go and the project timeline.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Reputation: Make sure your solar panel installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you opt for.
EcoWatch's Westwood, MI Solar Cost FAQs
How much does it cost to install solar panels in Westwood?
This is a tough question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will be more expensive if you want extra solar equipment or higher quality panels, or if you have above-average energy needs. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Are solar panels free in Westwood?
A solar panel system isn’t free in Westwood, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can further reduce the cost.
How much can I save on energy bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on your location and the efficiency of your system. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $1,149.45 per year.
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 are completely unusable at that time. What this means is how much energy they produce will have decreased significantly after that point. You can replace them after having them for that long or you can continue to use 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.