Solar Panel Cost Guide in Whitmore Lake, MI (2024 Update)
- Whitmore Lake Solar Installation Cost: $17,500
- 25-Year Savings: $13,008
- Payback Period: 17.4 Years
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Average Cost of Solar Panels in Whitmore Lake
Find out how much it might cost to make the switch to solar in Whitmore Lake.
The average cost of a solar panel system in Whitmore Lake is 4 per watt.The average Whitmore Lake homeowner needs a 6.2-kilowatt system, which would cost about $17,500 with the federal tax credit, or $25,025 before the 0 tax credit is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Whitmore Lake homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is typically rewarding, with a net average savings of about $16,000 over 20 years on power bills.
You can click the button below to get connected with a pre-vetted solar installer in Whitmore Lake that can help you get a more accurate cost estimate for your home.
Solar savings over time in Whitmore Lake
| Year | Return on Investment |
|---|---|
| 1 years | $-16,108 |
| 3 years | $-13,323 |
| 5 years | $-10,538 |
| 7 years | $-7,754 |
| 9 years | $-4,969 |
| 11 years | $-2,184 |
| 13 years | $600 |
| 15 years | $3,385 |
| 17 years | $6,170 |
| 19 years | $8,954 |
| 21 years | $11,739 |
| 23 years | $14,524 |
| 25 years | $17,308 |
Top Solar Installers in Whitmore Lake
Although it's possible to install solar panels yourself, it involves extra labor and know-how. Because of that, the majority of homeowners choose to go with a solar panel installer. Solar warranties and repairs are ordinarily included in the cost of installation when you hire a solar company too, which can save you more money after your initial investment.
There are a number of licensed solar professionals that can help you install your solar system. Here are our suggestions:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Whitmore Lake
Factors that Affect Solar Panel Costs in Whitmore Lake
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that affect your total cost in Whitmore Lake: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Whitmore Lake.The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose 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, higher efficiency could save you more in the long run on your power bills. Additionally, extra products, like solar batteries, can bump up your total well above the Whitmore Lake average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Whitmore Lake, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.It’s wise to include 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 the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
The solar installation company you select will influence your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Larger national companies usually have lower costs, but some local companies keep up with them by offering sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric car 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 | $4.22 | $17,734 | $6,742 | 18.1 years |
| 8 kW | $4.14 | $23,191 | $9,445 | 17.8 years |
| 10 kW | $4.06 | $28,420 | $12,374 | 17.4 years |
| 12 kW | $3.98 | $33,422 | $15,531 | 17.1 years |
| 14 kW | $3.90 | $38,196 | $18,916 | 16.7 years |
| 16 kW | $3.82 | $42,744 | $22,527 | 16.4 years |
| 18 kW | $3.74 | $47,064 | $26,366 | 16.0 years |
| 20 kW | $3.65 | $51,156 | $30,433 | 15.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from past customers.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and how much efficiency they need. Although there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of options before deciding.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Whitmore Lake, MI Solar Cost FAQs
How much does it cost to install solar panels in Whitmore Lake?
This is a hard question to answer exactly, because the cost depends on many 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. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy needs. Conversely, you can spend less if you opt for a smaller solar panel system or less efficient solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is definitely one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners in Whitmore Lake, that will require at least a 10-kW system. Not all homes will have roofs that can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average home will need 20 to 35 panels.
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.