Solar Panel Cost Guide in East Grand Rapids, MI (2023 Update)
- East Grand Rapids Solar Installation Cost: $12,156
- 25-Year Savings: $23,148
- Payback Period: 8.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in East Grand Rapids
Let's have a look at the average cost of solar panels in East Grand Rapids.
The national average cost of solar panels is $2.66 per watt, but in East Grand Rapids it's 2.81 per watt. Because a 6.2-kW system is needed to cover the energy costs of a typical home in East Grand Rapids, the average price of going solar will be about $12,156 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll end up paying for solar may look quite different based on your household energy consumption, the type of solar system you choose, your solar contractor and more. Many homeowners find installing a solar system is a fruitful investment. The average homeowner in East Grand Rapids can save about $22,000 on their energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar company in East Grand Rapids for a quote for your home.
Solar savings over time in East Grand Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-10,744 |
| 3 years | $-7,920 |
| 5 years | $-5,095 |
| 7 years | $-2,271 |
| 9 years | $553 |
| 11 years | $3,378 |
| 13 years | $6,202 |
| 15 years | $9,026 |
| 17 years | $11,851 |
| 19 years | $14,675 |
| 21 years | $17,500 |
| 23 years | $20,324 |
| 25 years | $23,148 |
Top Solar Installers in East Grand Rapids
When going solar, many homeowners prefer to hire a solar installer since installing solar panels yourself can be a time-consuming project. A solar installer can also help save you money in the long run by offering warranties, repairs and system component replacements.
If you'd like to start using solar energy but still aren't certain which solar panel installer to go with, here are our suggestions for providers near you:
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 East Grand Rapids
Factors that Affect Solar Panel Costs in East Grand Rapids
The cost of installing a solar system in East Grand Rapids can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The most significant one is your system size, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by about $2,810. There are a lot of different solar panel brands and the one you pick also changes the cost. In general, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to install can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a solid route because they reduce your upfront costs and let you pay for your system over five to seven years on average. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in East Grand Rapids is the company you choose to install your solar system. As with choosing a company to install new cabinets, for instance, you'll have many options for solar installers that offer a range of services for different budgets. You may come across national solar installers that have lower prices due to their bigger brand name and access to bulk prices, or you might see small, local installation companies offering deals or specials to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.92 | $12,274 | $22,027 | 8.9 years |
| 8 kW | $2.87 | $16,051 | $29,683 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,498 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,469 | 8.4 years |
| 14 kW | $2.70 | $26,436 | $53,598 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,885 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $70,328 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,929 | 7.7 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose significantly impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Solar Panel Brands: The kind of solar panel you'd like plays a role in which company you should go with, since different companies offer different panels.
- Contract: Before you sign a contract with a solar company, make sure you look it over carefully 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.
- Warranty: A quality company rises above other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Long-standing companies likely have a good reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
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 East Grand Rapids, MI Solar Cost FAQs
How much does it cost to install solar panels in East Grand Rapids?
The average cost of solar panels in East Grand Rapids is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you consume.
Is it better to lease or buy solar panels in East Grand Rapids?
Leasing solar panels can be an appealing choice, because it usually 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 maximize your savings.
Does East Grand Rapids have a net metering program?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just offer you credit toward your future electricity bills.
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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger 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.