Solar Panel Cost Guide in Lansing, MI (2024 Update)
- Lansing Solar Installation Cost: $17,547
- 25-Year Savings: $20,382
- Payback Period: 13.5 Years
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Average Cost of Solar Panels in Lansing
Find out what the average cost of solar panels are in Lansing.
While the national average of solar panels is $2.66 per watt, solar panels in Lansing generally cost about 4.The average Lansing homeowner needs a 6.2-kilowatt system, which would cost about $17,547 with the federal tax credit, or $25,092 before the 0 tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may look quite different based on your household energy use, the type of solar system you choose, your solar contractor and more.For many homeowners, the upfront investment in solar panels is worth paying. On average you could be looking at about $20,000 in savings on electricity bills over 20 years.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Lansing
| Year | Return on Investment |
|---|---|
| 1 years | $-16,264 |
| 3 years | $-13,699 |
| 5 years | $-11,133 |
| 7 years | $-8,567 |
| 9 years | $-6,001 |
| 11 years | $-3,436 |
| 13 years | $-870 |
| 15 years | $1,696 |
| 17 years | $4,261 |
| 19 years | $6,827 |
| 21 years | $9,393 |
| 23 years | $11,959 |
| 25 years | $14,524 |
Top Solar Installers in Lansing
Although it's possible to install solar panels on your own, it takes extra labor and handiness. That's one of the reasons most people choose to hire a solar panel installer. Plus, if you’re not certain what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
Working with a vetted solar installer can make going solar easier. Here are our recommendations:
Best National Provider
SunPower
- 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
- 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 Lansing
Factors that Affect Solar Panel Costs in Lansing
For many Lansing homeowners, the decision to go solar rests on cost. However, the range of solar installation costs can be quite wide in Lansing, with typical prices between $20,000 to $40,000. There are a number of factors that considerably influence the price you’ll pay, which we'll go over below.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar 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 pay about $4,060 per kilowatt in Lansing.The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a trusted 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 limited roof space or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Lansing homeowners opt to finance their solar panel systems to offset upfront costs.Though solar loans make switching to solar energy more accessible for Lansing homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Lansing is the company you hire to install your solar system. Similar to choosing a company to renovate your kitchen, for instance, there are plenty of solar installers that offer a range of services at different price points.The size of the company sometimes plays the most considerable role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger names.
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 | $13,874 | 14.0 years |
| 8 kW | $4.14 | $23,191 | $18,954 | 13.8 years |
| 10 kW | $4.06 | $28,420 | $24,261 | 13.5 years |
| 12 kW | $3.98 | $33,422 | $29,795 | 13.2 years |
| 14 kW | $3.90 | $38,196 | $35,556 | 12.9 years |
| 16 kW | $3.82 | $42,744 | $41,545 | 12.7 years |
| 18 kW | $3.74 | $47,064 | $47,762 | 12.4 years |
| 20 kW | $3.65 | $51,156 | $54,205 | 12.1 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Solar Panel Brands: The type of solar panel you’d like to install plays a role in which installer you should opt for, since different companies have different panels.
- Contract: It’s important to read your solar installer’s contract well to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Warranty: If you care about the endurance of your solar panel system, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
Best National Provider
SunPower
- 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
- 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 Lansing, MI Solar Cost FAQs
How much does it cost to install solar panels in Lansing?
The average cost of solar panels in Lansing is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real 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 thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
How will solar panels impact my property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lansing is currently $146,824, which means you can expect a value of about $6,020 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lansing is a rewarding investment.
How many solar panels should I get to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.
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.