Solar Panel Cost Guide in Grosse Pointe Park, MI (2024 Update)
- Grosse Pointe Park 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 Park
Here’s how much it might cost to install solar panels in Grosse Pointe Park.
The national average cost of solar panels is $2.66 per watt, but in Grosse Pointe Park it’s 4 per watt.Because a 6.1-kW system is needed to cover the energy usage of a typical home in Grosse Pointe Park, the average price of going solar will be about $17,379 after claiming the federal solar tax credit of 0.
The true cost of your system can be above or below the average in Grosse Pointe Park depending on several factors, such as the type of solar panels you choose and the solar contractor you hire.With typical savings of about $16,000 on power bills over 20 years, many homeowners in Grosse Pointe Park find investing in solar has a decent ROI.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Grosse Pointe Park
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 Park
When going solar, many homeowners prefer to hire a solar company since installing a solar system yourself can be a challenging project. The payback period on a solar system will vary depending on factors like your location and energy usage, but working with a solar company can shorten it. Your provider will be able to help you apply for incentives available in your area.
Working with a vetted solar company can help you make the most of your investment in solar. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Grosse Pointe Park
Factors that Affect Solar Panel Costs in Grosse Pointe Park
There are several factors that can play into your solar system 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 installing solar panels 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 pay around $4,060 per kilowatt in Grosse Pointe Park.The kind of 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 over time on your energy bills. In addition, add-on products, like solar batteries, can bump up your total well above the Grosse Pointe Park average.
Solar Financing Terms
Most solar installers in Grosse Pointe Park offer solar loans, which reduce the initial cost of installing a solar system.Even though solar loans make switching to solar energy more accessible for Grosse Pointe Park 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 cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you hire to handle your switch to green energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Grosse Pointe Park, and each can charge varying amounts for labor and equipment.The company’s size can sometimes play the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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
The solar installer you opt for will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, such as:
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has good reviews from previous customers.
- Warranty: Warranties that cover panel repairs and maintenance over a couple decades are the gold standard in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
Best National Provider
SunPower
- 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
- 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 Grosse Pointe Park, MI Solar Cost FAQs
How much does it cost to install solar panels in Grosse Pointe Park?
The average cost of solar panels in Grosse Pointe Park is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Grosse Pointe Park?
Leasing solar panels can be an option if you can’t 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 home 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 financial benefits from going solar.
How will having solar panels impact the value of my home?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Grosse Pointe Park is currently $457,953, which means you can look forward to a value of about $18,776 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Grosse Pointe Park is a fruitful investment.
How long do solar panels last in Grosse Pointe Park?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher amount of energy production.
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.