Solar Panel Cost Guide in Green Oak, MI (2025 Update)
- Green Oak Solar Installation Cost: $17,582
- 25-Year Savings: $17,227
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Green Oak
See how much it might cost to make the switch to solar in Green Oak.
Although the national average of solar panels is $2.66 per watt, solar panels in Green Oak generally cost around 4.The average Green Oak homeowner needs a 6.2-kilowatt system, which would cost about $17,582 with the federal tax credit, or $25,142 before the 0 tax credit is applied.
How much you pay can go above or below the average in Green Oak based on a variety of factors, such as the model of solar panels you choose and the solar company you hire.But, after you've paid the initial cost of installation, the payback for most homeowners is typically good, with a net average savings of about $15,000 over 20 years on electricity bills.
To see your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Green Oak
| Year | Return on Investment |
|---|---|
| 1 years | $-16,189 |
| 3 years | $-13,405 |
| 5 years | $-10,620 |
| 7 years | $-7,835 |
| 9 years | $-5,051 |
| 11 years | $-2,266 |
| 13 years | $519 |
| 15 years | $3,303 |
| 17 years | $6,088 |
| 19 years | $8,873 |
| 21 years | $11,657 |
| 23 years | $14,442 |
| 25 years | $17,227 |
Top Solar Installers in Green Oak
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a pain. Going with a solar panel installer can make switching to solar power much easier. Another good thing about going with a top solar installer is that it'll usually provide warranties and free repairs, which help protect your solar investment.
You can work with a local solar installer to get a free quote on how much your investment in solar could cost for your home. Here are some in Green Oak:
See all of the solar companies in Green Oak
Factors that Affect Solar Panel Costs in Green Oak
The cost of installing a solar system in Green Oak can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. That’s why it’s crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your average energy use.Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Green Oak, where sunlight isn’t as abundant, efficiency can quickly pay off. Plus, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on energy bills over time, but they can also be a significant investment. That’s why many Green Oak homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s a good idea to factor the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Green Oak is the company you hire to install your solar system. As with choosing a company to install new cabinets, for example, there are plenty of solar installers that offer a range of services for different budgets.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions to compete with those larger 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 | $6,629 | 18.2 years |
| 8 kW | $4.14 | $23,191 | $9,293 | 17.8 years |
| 10 kW | $4.06 | $28,420 | $12,185 | 17.5 years |
| 12 kW | $3.98 | $33,422 | $15,304 | 17.1 years |
| 14 kW | $3.90 | $38,196 | $18,650 | 16.8 years |
| 16 kW | $3.82 | $42,744 | $22,224 | 16.4 years |
| 18 kW | $3.74 | $47,064 | $26,025 | 16.1 years |
| 20 kW | $3.65 | $51,156 | $30,053 | 15.7 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a challenge, we have some tips to help you, such as:
- Warranty: Many companies offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to clarify any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Contract: Though reading through a contract can be tedious, it’s important to do it carefully so you can be sure you understand how much the equipment and services will cost and how part repairs and replacements will be handled.
- Solar Panel Brands: The kind of solar panel you’d like to install plays a role in which company you should go with, since different companies provide different panels.
EcoWatch's Green Oak, MI Solar Cost FAQs
What is the average cost of installing solar panels in Green Oak?
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. It will be more expensive if you want additional solar equipment or more efficient panels, or if you have above-average energy needs. Conversely, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Should I lease or buy solar panels in Green Oak?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to get the most savings.
Is going solar worth it?
Solar panels can be a great investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you should find out how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can usually 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.