Solar Panel Cost Guide in Grand Ledge, MI (2023 Update)
- Grand Ledge Solar Installation Cost: $12,156
- 25-Year Savings: $21,532
- Payback Period: 9.0 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Grand Ledge
Here's how much it might cost to switch to solar power in Grand Ledge.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Grand Ledge, the typical cost of solar panels is 2.81 per watt. To cover the typical energy usage of the average home in Grand Ledge, most homeowners require a 6.2-kilowatt system. Using the figure above, a solar installation costs around $12,156, or $17,383 before the federal solar tax credit of 30% is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy use, the type of solar panels you choose, your solar contractor and more. Even with the large upfront cost, the average Grand Ledge homeowner can save about $21,000 on their power bills over 20 years, which is one of the positives of solar.
To receive a free estimate from a top solar installation company in Grand Ledge, you can click the button below.
Solar savings over time in Grand Ledge
| Year | Return on Investment |
|---|---|
| 1 years | $-10,809 |
| 3 years | $-8,113 |
| 5 years | $-5,418 |
| 7 years | $-2,723 |
| 9 years | $-28 |
| 11 years | $2,667 |
| 13 years | $5,362 |
| 15 years | $8,057 |
| 17 years | $10,752 |
| 19 years | $13,447 |
| 21 years | $16,142 |
| 23 years | $18,837 |
| 25 years | $21,532 |
Top Solar Installers in Grand Ledge
Trying to put up solar panels on your own can be a difficult project, which is why hiring a solar installer is a good option for many homeowners. Local solar installation companies can also help you maximize your return on investment by walking you through any local incentives and by providing warranties and repairs.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
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 Grand Ledge
Factors that Affect Solar Panel Costs in Grand Ledge
Cost is usually one of the most important factors for homeowners who want to invest in solar. There are a few key factors that affect your total cost in Grand Ledge: solar equipment and system size, financing options and the solar installation company you choose. We'll cover each of these briefly below.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $2,810. Some solar panel brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Grand Ledge, where sunlight isn't as abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels in cash is too expensive, solar loans are a solid option because they reduce your upfront costs and let you pay for your system over five to seven years on average. Though solar loans make switching to solar energy more accessible for Grand Ledge homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar company you opt for to handle your switch to sustainable energy can play a role in your total costs. There are about 3 solar installation companies in Grand Ledge, and each can charge different amounts for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by promoting sales and discounts. While the smaller companies might not have access to specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle charger installation, they might be cheaper overall.
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 | $20,460 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,594 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,886 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,335 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $49,942 | 8.7 years |
| 16 kW | $2.64 | $29,584 | $57,706 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,627 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,706 | 8.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose has an impact on your costs and your system's durability and efficiency, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Warranty: Warranties that provide coverage for defective panels and repairs over around 25 years are the best you can get in the business, and offering that kind of warranty is one sign of a quality company.
- Solar Panel Brands: The kind of solar panel you'd like to install plays a role in which installer you should choose, since different companies have access to different panels.
- Reputation: Your solar installer should have a sound reputation as a company and have demonstrated expertise in the field. Two 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 positive reviews from previous customers.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project timeline incentives and warranties.
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 Grand Ledge, MI Solar Cost FAQs
How much does it cost to install solar panels in Grand Ledge?
This is a tough question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or more efficient panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Grand Ledge?
Leasing solar panels can be an option if you are unable to pay upfront or secure a solar loan, but since you don't own the system, you don't have access to many solar incentives. Also your property 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 savings from going solar.
Can you sell solar power back to the grid in Grand Ledge?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future power bills.
How often do you have to replace solar panels?
On average, solar panels can last 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 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.