Solar Panel Cost Guide in East Lansing, MI (Feb 2023)
- East Lansing Solar Installation Cost: $12,156
- 25-Year Savings: $21,735
- Payback Period: 9.0 Years
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Top Solar Installers in East Lansing
When going solar, many homeowners decide to go with a solar company since handling can be a time-consuming project. Solar warranties and repairs are often included in the cost of installation when you go with a solar company as well, which can save you more money over time.
If you're on the hunt for a solar installer in East Lansing, we've put together a list of our top suggestions here:
See all of the solar companies in East Lansing
Factors that Affect Solar Panel Costs in East Lansing
Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that affect your total cost in East Lansing: solar equipment and system size, financing options and the solar installation company you choose. We'll discuss each of these briefly below.
One of the most significant factors to consider when it comes to the cost of adopting solar energy 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 spend around $2,810 per kilowatt in East Lansing. The brand and type of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are an affordable option because they decrease your upfront costs and allow you to pay for your system over five to seven years on average. You'll have to consider the long-term cost of financing options, including the amount of 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 more than the original cost. Making a larger down payment or securing a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in East Lansing is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for example, 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 equipment pricing, 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||$2.92||$12,274||$20,654||9.3 years|
|8 kW||$2.87||$16,051||$27,853||9.1 years|
|10 kW||$2.81||$19,670||$35,210||9.0 years|
|12 kW||$2.75||$23,132||$42,724||8.8 years|
|14 kW||$2.70||$26,436||$50,396||8.6 years|
|16 kW||$2.64||$29,584||$58,224||8.4 years|
|18 kW||$2.59||$32,574||$66,211||8.2 years|
|20 kW||$2.53||$35,406||$74,354||8.1 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 tips to keep in mind to help with your decision:
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it likely has a solid reputation and is qualified to install your solar system. Another way you can verify your installer's reputation is by reading reviews.
- Installation Process: Make sure you're on the same page with the company regarding how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Contract: When looking over your solar installer's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- 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 significant role in the company you go with.
EcoWatch's East Lansing, MI Solar Cost FAQs
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.