Solar Panel Cost Guide in Grand Ledge, MI (2024 Update)
- Grand Ledge Solar Installation Cost: $17,549
- 25-Year Savings: $21,542
- Payback Period: 13.0 Years
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Average Cost of Solar Panels in Grand Ledge
Find out what the average cost of solar panel installation is in Grand Ledge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grand Ledge, the typical cost of a solar system is 4 per watt.Since a 6.2-kW system is needed to cover the energy needs of a typical home in Grand Ledge, the average price of going solar will be about $17,549 after claiming the federal solar tax credit of 0.
The prices above are just estimates to give you an idea of the cost of a solar panel system. The exact cost of going solar can vary depending on multiple factors, such as how many panels you need, your energy usage and what solar installer you go with.With typical savings of about $21,000 on power bills over 20 years, many homeowners in Grand Ledge find investing in solar can pay off big.
Click the button below to get connected to a top solar panel company in Grand Ledge for a personalized estimate.
Solar savings over time in Grand Ledge
| Year | Return on Investment |
|---|---|
| 1 years | $-16,296 |
| 3 years | $-13,788 |
| 5 years | $-11,281 |
| 7 years | $-8,773 |
| 9 years | $-6,266 |
| 11 years | $-3,759 |
| 13 years | $-1,251 |
| 15 years | $1,256 |
| 17 years | $3,764 |
| 19 years | $6,271 |
| 21 years | $8,778 |
| 23 years | $11,286 |
| 25 years | $13,793 |
Top Solar Installers in Grand Ledge
Many homeowners opt for a solar panel installer since trying to put up solar panels yourself can be a lot of work. Plus, warranties and repairs from your solar panel installer can protect your investment and lower the cost of maintenance in the long run.
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 nearby:
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Grand Ledge
Factors that Affect Solar Panel Costs in Grand Ledge
There are several 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 performs the installation.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. For that reason, it’s important to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.There are many different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also be more expensive. Additionally, the type of equipment you’re looking to get 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
Solar panels can save you money on power bills over time, but they can also be a significant investment. That’s why many Grand Ledge homeowners decide to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your total costs, so it’s important to take that into consideration as well. You can always reduce the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of sustainable energy solutions in Grand Ledge, you’ll have many options to choose from, but each comes at different price points for labor and equipment.Additionally, some companies in Grand Ledge know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, 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 | $15,000 | 13.5 years |
| 8 kW | $4.14 | $23,191 | $20,454 | 13.3 years |
| 10 kW | $4.06 | $28,420 | $26,136 | 13.0 years |
| 12 kW | $3.98 | $33,422 | $32,045 | 12.8 years |
| 14 kW | $3.90 | $38,196 | $38,182 | 12.5 years |
| 16 kW | $3.82 | $42,744 | $44,546 | 12.2 years |
| 18 kW | $3.74 | $47,064 | $51,137 | 12.0 years |
| 20 kW | $3.65 | $51,156 | $57,956 | 11.7 years |
How to Save on Solar Panels
The solar installer you opt for will impact not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, including:
- Contract: Look through the contract terms closely to make sure you understand how much it will cost, project completion timeline incentives and warranties.
- Installation Process: When going solar, it’s essential to maintain an open line of communication with your solar panel company. See to it that you understand how the installation process will go and the project completion timeline.
- Solar Panel Brands: The model of solar panel you want to get plays a role in which company you should choose, since different companies provide different panels.
- Warranty: If you care about the longevity of your solar system, making sure your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Grand Ledge, MI Solar Cost FAQs
What is the average cost of installing solar panels in Grand Ledge?
This is a hard question to answer exactly, because the cost depends on a few different factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want other solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the flip side, you can spend less if you want a smaller solar panel system or less efficient solar panels.
Is cost the most important consideration when buying solar panels?
The initial cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Do solar panels increase your property value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Grand Ledge is currently $276,142, so you could be looking at a value of about $11,322 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Grand Ledge is a worthwhile investment.
How often do you have to replace solar panels?
Even though 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 continue to use 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.