Solar Panel Cost Guide in Eastwood, MI (2024 Update)

  • Eastwood Solar Installation Cost: $17,318
  • 25-Year Savings: $19,756
  • Payback Period: 13.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Eastwood

Find out how much it might cost to go solar in Eastwood.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Eastwood, the average cost of solar panels is 4 per watt.The average Eastwood homeowner needs a 6.1-kilowatt system, which would cost about $17,318 with the federal tax credit, or $24,765 before the 0 tax credit is applied.

Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of equipment you want to get, your solar contractor and more.But, once you've paid the initial cost of installation, the payback for most homeowners is quite rewarding, with a net average savings of about $20,000 over 20 years on electricity bills.

To calculate your potential savings and connect with a local solar expert, click the button below.

Solar savings over time in Eastwood

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 Eastwood

Trying to install solar panels by yourself can be a difficult task, which is why getting a solar installer is a good option for many homeowners. The expertise that solar companies provide can be useful as well, particularly if you aren’t sure what brand of solar equipment you need.

You can get a free quote from a local solar installer on how much your investment in solar could cost for your home. Here are some near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Eastwood

Factors that Affect Solar Panel Costs in Eastwood

There are several factors that can influence your solar panel 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

The size of the solar panel system you need for your home, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. The solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you get 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 energy bills. Additionally, extra products, such as solar batteries, can bump up your total well above the Eastwood average.

Solar Financing Terms

Many homeowners find the average cost of solar in Eastwood to be too steep, even if the investment pays off over time. Fortunately, nearly every solar installer in the area offers financing options. Solar loans substantially decrease upfront costs for most homeowners, but they also lead to higher prices over time because of interest.You’ll have to consider the long-term cost of financing options, including the amount of 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 original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs remarkably.

Solar Panel Installation Company

The solar installer you hire to handle your switch to sustainable energy can have an effect on your total costs. There are about 3 solar installation companies in Eastwood, and each can charge varying amounts for labor and equipment.Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or add-on 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 $13,519 14.2 years
8 kW $4.14 $23,191 $18,481 13.9 years
10 kW $4.06 $28,420 $23,669 13.6 years
12 kW $3.98 $33,422 $29,085 13.4 years
14 kW $3.90 $38,196 $34,728 13.1 years
16 kW $3.82 $42,744 $40,599 12.8 years
18 kW $3.74 $47,064 $46,697 12.5 years
20 kW $3.65 $51,156 $53,023 12.3 years

How to Save on Solar Panels

Since the kind of solar panels and the company you choose has an impact on your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some tips to keep in mind to help with your decision:

  • Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
  • Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like the EcoWatch team.
  • Solar Panel Brands: The model of solar panel you’d like plays a role in which company you should choose, since different companies have access to different panels.
  • Contract: It’s important to look over your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Eastwood, MI Solar Cost FAQs

How much does it cost to install solar panels in Eastwood?

The average cost of solar panels in Eastwood is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you use.

Are solar panels free in Eastwood?

You can’t get solar panels for free in Eastwood. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you want to own your solar panels, you can finance them with a solar loan.

Can solar panels significantly reduce my electricity bills?

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 $1,041.79 per year.

How long do solar panels last in Eastwood?

Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is their energy production will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can keep using 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.

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