Solar Panel Cost Guide in Roosevelt Park, MI (2024 Update)
- Roosevelt Park Solar Installation Cost: $16,349
- 25-Year Savings: $23,989
- Payback Period: 11.6 Years
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Average Cost of Solar Panels in Roosevelt Park
Find out what the average cost of installing solar panels is in Roosevelt Park.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Roosevelt Park, the average cost of solar panels is 4 per watt.To account for the typical energy needs of the average home in Roosevelt Park, most homeowners require a 5.8-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,349, or $23,379 before the federal solar tax credit of 0 is applied.
These figures are just estimates, and how much solar costs for you may look different based on your energy needs and what company you choose to go with.For many homeowners, the upfront cost of solar is worth paying. On average homeowners in Roosevelt Park see about $23,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in Roosevelt Park that can help you get a more accurate cost estimate for your home.
Solar savings over time in Roosevelt Park
| Year | Return on Investment |
|---|---|
| 1 years | $-15,095 |
| 3 years | $-12,587 |
| 5 years | $-10,080 |
| 7 years | $-7,573 |
| 9 years | $-5,065 |
| 11 years | $-2,558 |
| 13 years | $-50 |
| 15 years | $2,457 |
| 17 years | $4,964 |
| 19 years | $7,472 |
| 21 years | $9,979 |
| 23 years | $12,486 |
| 25 years | $14,994 |
Top Solar Installers in Roosevelt Park
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can be a headache. Using a solar company can make your swap to solar power much easier. Some solar companies, especially local ones, can help you take advantage of incentives in Roosevelt Park, optimizing your ROI.
You can work with a local solar installer to get a free quote on the cost of solar panels for your home. Here are some in Roosevelt Park:
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 Roosevelt Park
Factors that Affect Solar Panel Costs in Roosevelt Park
There are a number of factors 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 installs your solar panels.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, 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 around $4,060. The kind of solar panels and equipment you want is another factor that will significantly affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when researching a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be financially overwhelming. Solar loans are available from most installers in Roosevelt Park, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.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 above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you pick will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.Companies that only sell high-quality, high-efficiency and high-price 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 go with the company that offers the products, warranties and services you want 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 | $4.22 | $17,734 | $19,089 | 12.0 years |
| 8 kW | $4.14 | $23,191 | $25,907 | 11.8 years |
| 10 kW | $4.06 | $28,420 | $32,952 | 11.6 years |
| 12 kW | $3.98 | $33,422 | $40,224 | 11.3 years |
| 14 kW | $3.90 | $38,196 | $47,724 | 11.1 years |
| 16 kW | $3.82 | $42,744 | $55,452 | 10.9 years |
| 18 kW | $3.74 | $47,064 | $63,406 | 10.7 years |
| 20 kW | $3.65 | $51,156 | $71,588 | 10.4 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose greatly impacts your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 company, such as what permits you should acquire and what the project timeline is.
- Warranty: Warranties that cover replacement parts and repairs over a long period of time such as 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a good company.
- Reputation: Solar panel companies that have great reviews from their customers and that have been operating for many years likely provide good-quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
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 Roosevelt Park, MI Solar Cost FAQs
What is the average cost of installing solar panels in Roosevelt Park?
The average cost of solar panels in Roosevelt Park 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 stuff such as the type of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Roosevelt Park?
A solar panel system isn’t free in Roosevelt Park, but there are some options that can make getting them more viable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Does Roosevelt Park have a net metering program?
The majority of states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How often do you have to replace solar panels?
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 level 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.