Solar Panel Cost Guide in Wixom, MI (2023 Update)
- Wixom Solar Installation Cost: $12,156
- 25-Year Savings: $12,964
- Payback Period: 12.1 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Wixom
Let's take a look at the average cost of solar in Wixom.
In Wixom, solar panels cost about 2.81 per watt on average. Since a 6.2-kW system is needed to cover the energy costs of a typical home in Wixom, the average price of going solar will be about $12,156 after claiming the federal solar tax credit of 30%.
Keep in mind that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you want, your solar contractor and more. For many homeowners, the upfront investment in solar power is worth paying. On average Wixom homeowners see about $15,000 in savings on utility bills over 20 years.
For a customized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Wixom
| Year | Return on Investment |
|---|---|
| 1 years | $-11,151 |
| 3 years | $-9,142 |
| 5 years | $-7,132 |
| 7 years | $-5,123 |
| 9 years | $-3,113 |
| 11 years | $-1,103 |
| 13 years | $906 |
| 15 years | $2,916 |
| 17 years | $4,925 |
| 19 years | $6,935 |
| 21 years | $8,945 |
| 23 years | $10,954 |
| 25 years | $12,964 |
Top Solar Installers in Wixom
Do-it-yourself solar panel installation is a way to cut costs, but it's an undertaking that can be a headache. Going with a solar company can make swapping over to solar power much easier. Companies can also provide access to a large variety of the best solar panels and help you choose which one will be best for you.
If you'd like to start using solar energy but still aren't sure which solar panel installer to go with, here are our suggestions 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 Wixom
Factors that Affect Solar Panel Costs in Wixom
There are several criteria that can determine your installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Wixom. There are a lot of different solar panel brands and the one you pick also affects the cost. Usually, the brands that offer higher efficiency tend to also cost more. In addition, the type of equipment you choose can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Wixom homeowners opt to finance their solar panel systems to make paying for solar more affordable. You'll have to consider the long-term cost of loans, including the total interest you'll pay over the length of the loan. If you can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panels can impact how much you pay. Wixom's solar companies all have different labor costs and add varying upcharges to equipment. Companies that only sell high-efficiency and high-priced products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come with an above-average cost. It's best to do some research and choose a company that offers the products, warranties and services you're looking for and also fit into your budget.
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 | $12,125 | 12.6 years |
| 8 kW | $2.87 | $16,051 | $16,481 | 12.3 years |
| 10 kW | $2.81 | $19,670 | $20,995 | 12.1 years |
| 12 kW | $2.75 | $23,132 | $25,666 | 11.9 years |
| 14 kW | $2.70 | $26,436 | $30,494 | 11.6 years |
| 16 kW | $2.64 | $29,584 | $35,480 | 11.4 years |
| 18 kW | $2.59 | $32,574 | $40,623 | 11.1 years |
| 20 kW | $2.53 | $35,406 | $45,924 | 10.9 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Because choosing a company can be a tough decision, we have some tips to help you, such as:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Warranty: Each company may offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: Make sure your solar company 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 EcoWatch.
- Contract: It's important to look over your solar installer's contract carefully to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
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 Wixom, MI Solar Cost FAQs
What is the average cost of installing solar panels in Wixom?
The average cost of solar panels in Wixom is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Wixom?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most bang for your buck from going solar.
Do solar panels increase how much your home is worth?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Wixom is currently $256,992, so you can look forward to a value of about $10,537 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Wixom is a worthwhile investment.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide to 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.