Solar Panel Cost Guide in Grosse Pointe, MI (2024 Update)
- Grosse Pointe Solar Installation Cost: $17,379
- 25-Year Savings: $13,091
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Grosse Pointe
Find out what the average cost of solar panel installation is in Grosse Pointe.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grosse Pointe, the typical cost of solar panels is 4 per watt.Because a 6.1-kW system is needed to cover the energy needs of a typical home in Grosse Pointe, the average price of going solar will be about $17,379 after claiming the federal solar tax credit of 0.
The actual price you pay can go above or below the average in Grosse Pointe based on several factors, such as the type of solar panels you choose and the solar installer you hire.With average savings of about $16,000 on electricity bills over 20 years, many homeowners in Grosse Pointe find going solar can be quite rewarding.
Click the button below to get connected to a top solar panel company in Grosse Pointe for a custom estimate.
Solar savings over time in Grosse Pointe
| Year | Return on Investment |
|---|---|
| 1 years | $-15,987 |
| 3 years | $-13,202 |
| 5 years | $-10,417 |
| 7 years | $-7,633 |
| 9 years | $-4,848 |
| 11 years | $-2,063 |
| 13 years | $721 |
| 15 years | $3,506 |
| 17 years | $6,291 |
| 19 years | $9,075 |
| 21 years | $11,860 |
| 23 years | $14,645 |
| 25 years | $17,429 |
Top Solar Installers in Grosse Pointe
Installing solar panels on your own can be a stressful task, which is why hiring a solar installation company is a good option for many homeowners. Another great thing about using a reliable solar installer is that it'll likely provide warranties and free repairs, which help protect your solar system over time.
If you’d like to make the switch to solar but still aren’t sure which solar installer to go with, here are our suggestions for providers nearby:
See all of the solar companies in Grosse Pointe
Factors that Affect Solar Panel Costs in Grosse Pointe
While the average cost of a solar system in Grosse Pointe is $17,379, your final cost may be above or below the average. There are many factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more important things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay around $4,060 per kilowatt in Grosse Pointe.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Grosse Pointe, where sunlight isn’t as abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of 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
Many homeowners find the average cost of solar in Grosse Pointe to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar installer in the area provides financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to a higher cost over time due to interest.Even though solar loans make switching to solar energy more accessible for Grosse Pointe homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar installer you choose will influence your total cost to make the switch to solar energy. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Grosse Pointe know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
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 | $6,913 | 18.0 years |
| 8 kW | $4.14 | $23,191 | $9,672 | 17.6 years |
| 10 kW | $4.06 | $28,420 | $12,658 | 17.3 years |
| 12 kW | $3.98 | $33,422 | $15,872 | 17.0 years |
| 14 kW | $3.90 | $38,196 | $19,313 | 16.6 years |
| 16 kW | $3.82 | $42,744 | $22,981 | 16.3 years |
| 18 kW | $3.74 | $47,064 | $26,877 | 15.9 years |
| 20 kW | $3.65 | $51,156 | $31,000 | 15.6 years |
How to Save on Solar Panels
Since the type 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 things to keep in mind to help with your decision:
- Installation Process: When making the switch to solar energy, it’s necessary to maintain an open line of communication with your solar installer. Make sure you understand how the installation process will go and the project completion timeline.
- Warranty: If you’re worried about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
- Contract: Before you sign a contract with a solar company, make sure you read it through completely so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
EcoWatch's Grosse Pointe, MI Solar Cost FAQs
What is the average cost of installing solar panels in Grosse Pointe?
The average cost of solar panels in Grosse Pointe 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 certain factors like the model of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider aside from cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Does Grosse Pointe have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just offer you credit toward your future utility bills.
How often do you have to replace solar panels?
Although 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 how much energy they produce will have decreased significantly after that point. You can choose 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.