Solar Panel Cost Guide in Grand Rapids, MI (Mar 2023)
- Grand Rapids Solar Installation Cost: $12,156
- 25-Year Savings: $23,034
- Payback Period: 8.6 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Grand Rapids
Find out how much it might cost to install solar panels in Grand Rapids.
The average cost of a solar panel system in Grand Rapids is 2.81 per watt. The average Grand Rapids homeowner needs a 6.2-kilowatt system, which would cost about $12,156 with the federal tax credit, or $17,383 before the 30% tax credit is applied.
Remember 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 want, your solar contractor and more. For most homeowners, the upfront investment in solar power is worth paying. On average homeowners in Grand Rapids see about $22,000 in savings on electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Grand Rapids that can help you get a more accurate cost estimate for your home.
Solar savings over time in Grand Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-10,748 |
| 3 years | $-7,933 |
| 5 years | $-5,118 |
| 7 years | $-2,303 |
| 9 years | $512 |
| 11 years | $3,328 |
| 13 years | $6,143 |
| 15 years | $8,958 |
| 17 years | $11,773 |
| 19 years | $14,588 |
| 21 years | $17,404 |
| 23 years | $20,219 |
| 25 years | $23,034 |
Top Solar Installers in Grand Rapids
When switching to solar energy, many homeowners choose to use a solar installation company since overseeing your solar installation yourself can be a difficult project. Also, companies with an outstanding reputation that cost more upfront could actually save you money in the long run because of their warranties, repair services and expert design.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
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 Rapids
Factors that Affect Solar Panel Costs in Grand Rapids
For many Grand Rapids homeowners, the decision to install a solar energy system rests on cost. However, the range of solar installation costs can be quite wide in Grand Rapids, with typical prices between $20,000 to $40,000. There are several factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
The size of the solar energy system you need for your household, 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. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. On the other hand, higher efficiency could save you more over time on your electric bills. In addition, add-on products, like solar batteries, can bring your total well above the Grand Rapids average.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be a challenge. Solar loans are offered by most installers in Grand Rapids, which can lower, or in some cases completely eliminate, your upfront costs to make solar more accessible. Even though solar loans make switching to solar energy more accessible for Grand Rapids homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The last major cost factor you should consider is the installer you choose. Given the growing popularity of sustainable energy solutions in Grand Rapids, you'll have many options to choose from, but each comes at various price points for labor and equipment. Larger national companies typically have lower costs, but some local companies keep up with 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 car 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 | $21,915 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,535 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,313 | 8.6 years |
| 12 kW | $2.75 | $23,132 | $45,247 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $53,339 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,588 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $69,995 | 7.9 years |
| 20 kW | $2.53 | $35,406 | $78,559 | 7.8 years |
How to Save on Solar Panels
Since the brand of solar panels and the company you choose greatly affects your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some things to keep in mind to help with your decision:
- Contract: Read the contract terms thoroughly to make sure you understand the cost breakdown, completion timeline incentives and warranties.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and how much efficiency they need. Even though there are many options for which brand of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a well-established certification organization for sustainable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to do the job well. Another way you can verify your installer's reputation is by reading reviews.
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 Rapids, MI Solar Cost FAQs
How much does it cost to install solar panels in Grand Rapids?
The average cost of solar panels in 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 certain factors such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important consideration when buying solar panels?
Cost is certainly one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can you sell solar power back to the grid in Grand Rapids?
Most states offer net metering programs of some kind. Through these, you can receive compensation for the extra power your system produces or or receive credits to put toward future utility 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 decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount 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.