Solar Panel Cost Guide in Laketon, MI (2024 Update)

  • Laketon Solar Installation Cost: $16,349
  • 25-Year Savings: $23,989
  • Payback Period: 11.6 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Laketon

Find out how much it might cost to make the switch to solar in Laketon.

Currently, the national average cost of solar panels is $2.66 per watt. However, in Laketon, the average cost of solar panels is 4 per watt.The average solar panel system size in Laketon is around 5.8 kilowatts, meaning a cost of about $16,349 for a solar installation, or $23,379 before the 0 federal solar 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 needs, the type of solar panels you want to get, your solar contractor and more.With average savings of about $23,000 on energy bills over 20 years, many homeowners in Laketon find going solar can be quite rewarding.

For a customized quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Laketon

Year Return on Investment
1 years $-15,095
3 years $-12,587
5 years $-10,080
7 years $-7,573
9 years $-5,065
11 years $-2,558
13 years $-50
15 years $2,457
17 years $4,964
19 years $7,472
21 years $9,979
23 years $12,486
25 years $14,994

Top Solar Installers in Laketon

When going solar, many homeowners opt to go with a solar company since overseeing your solar installation yourself can be a time-consuming project. Another advantage of utilizing a solar company is that they can help you optimize your return of investment by cutting back on future costs of repairs and replacements because of warranties and helping you learn about local incentives you can take advantage of.

There are a number of licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Laketon

Factors that Affect Solar Panel Costs in Laketon

Cost is usually one of the most important factors for homeowners considering investing in solar. There are a few major factors that determine your overall cost in Laketon: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Laketon.Some solar panel brands — like Maxeon from SunPower — are more costly upfront but also tend to offer higher efficiency. In a city like Laketon, where sunlight is relatively 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 a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.

Solar Financing Terms

Solar panels can save you money on energy bills over many years, but they can also be a significant investment. That’s why many Laketon homeowners opt to finance their solar panel systems to make paying for solar more affordable.However, the interest on solar loans also increases your all-in costs, so it’s important to include that in your estimate as well. You can always bring down the total you pay in interest and possibly even your APR by making a larger down payment.

Solar Panel Installation Company

The solar installation company you choose will play a role in your total cost to adopt solar power. Different companies will bill different amounts for the equipment and labor.You may see national solar installers that have lower prices because of their larger brand name and access to bulk equipment prices, or you might see small, local installation companies offering deals or promotions 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 $4.22 $17,734 $19,089 12.0 years
8 kW $4.14 $23,191 $25,907 11.8 years
10 kW $4.06 $28,420 $32,952 11.6 years
12 kW $3.98 $33,422 $40,224 11.3 years
14 kW $3.90 $38,196 $47,724 11.1 years
16 kW $3.82 $42,744 $55,452 10.9 years
18 kW $3.74 $47,064 $63,406 10.7 years
20 kW $3.65 $51,156 $71,588 10.4 years

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a challenge, we have some tips to help you, such as:

  • Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so be sure to take a look at their list of offerings before making your decision.
  • Contract: When reading through your solar company’s contract, ask for clarification about any terms you’re not sure of and be sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
  • Warranty: Many companies offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
  • Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar installer. See to it that you understand how the installation process works and the completion timeline.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Laketon, MI Solar Cost FAQs

How much does it cost to install solar panels in Laketon?

The average cost of solar panels in Laketon is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.

What other factors should I consider other than cost 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 be more important than the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.

Can solar panels completely eradicate my power bills?

It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Laketon, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.

How often do you have to replace solar panels?

Although 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 their energy production will have decreased significantly after that point. You can replace them after having 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.

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