Solar Panel Cost Guide in Lansing, MI (Mar 2023)
- Lansing Solar Installation Cost: $12,136
- 25-Year Savings: $20,390
- Payback Period: 9.3 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lansing
Find out what the average cost of installing solar panels is in Lansing.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lansing, the average cost of solar panels is 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,136 before the 30% 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 use, the type of solar panels you want to get, your solar contractor and more. For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Lansing see about $20,000 in savings on energy bills over 20 years.
Click the button below to get connected to a highly rated solar company in your area for a customized estimate.
Solar savings over time in Lansing
| Year | Return on Investment |
|---|---|
| 1 years | $-10,835 |
| 3 years | $-8,233 |
| 5 years | $-5,631 |
| 7 years | $-3,029 |
| 9 years | $-427 |
| 11 years | $2,175 |
| 13 years | $4,777 |
| 15 years | $7,379 |
| 17 years | $9,981 |
| 19 years | $12,584 |
| 21 years | $15,186 |
| 23 years | $17,788 |
| 25 years | $20,390 |
Top Solar Installers in Lansing
Installing solar panels by yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. The expertise that solar companies offer can be invaluable as well, particularly if you don't quite know what kind of solar equipment would be right for your home.
If you're searching for a solar company in Lansing, we've put together a list of our top suggestions here:
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
Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few key factors that determine your overall cost in Lansing: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
One of the most important 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 electricity your household consumes, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in Lansing. The brand and kind of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you're opting for high efficiency because you have a small roof 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 additional equipment like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lansing to be too expensive, even if the investment pays off over time. Fortunately, almost every solar company in the area offers financing options. Solar loans drastically decrease upfront costs in most cases, but they also lead to higher prices over time because of interest. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
Lastly, the company you get to install your solar panel system can impact the cost. Lansing's solar companies all have different labor costs and add varying upcharges to equipment. The company's size sometimes plays the most considerable role in the cost of installation. 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 generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
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 | $19,334 | 9.7 years |
| 8 kW | $2.87 | $16,051 | $26,094 | 9.5 years |
| 10 kW | $2.81 | $19,670 | $33,011 | 9.3 years |
| 12 kW | $2.75 | $23,132 | $40,085 | 9.1 years |
| 14 kW | $2.70 | $26,436 | $47,316 | 9.0 years |
| 16 kW | $2.64 | $29,584 | $54,705 | 8.8 years |
| 18 kW | $2.59 | $32,574 | $62,252 | 8.6 years |
| 20 kW | $2.53 | $35,406 | $69,955 | 8.4 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are several important things you should keep in mind, such as:
- Warranty: An all-inclusive, 25-year warranty can help keep your solar system running smoothly and save you money on part replacement and repairs.
- Contract: Although reading through a contract can take a lot of time, it's important to do it thoroughly so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of 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 satisfied reviews from previous customers.
- Solar Panel Brands: Not all solar installers have the same brands of solar panels, so the brand and type of panel you want can play a large role in the company you hire.
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
What is the average cost of installing solar panels in Lansing?
This is a hard question to answer precisely, because the cost depends on a variety of 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 be more expensive if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Lansing?
Leasing solar panels can be an option if you can't afford to pay upfront or secure a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your home 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 financial benefits from going solar.
Can you sell solar power back to the grid in Lansing?
Each state has some kind 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 energy bills.
How long do solar panels last in Lansing?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can opt 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.