Solar Panel Cost Guide in Lapeer, MI (2024 Update)
- Lapeer Solar Installation Cost: $17,632
- 25-Year Savings: $12,916
- Payback Period: 17.5 Years
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Average Cost of Solar Panels in Lapeer
Find out how much it might cost to go solar in Lapeer.
In Lapeer, solar panels cost about 4 per watt on average.Using this figure, a typical 6.2-kW system would cost about $17,632 before the 0 federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you may vary based on your specific situation and what company you choose to go with.For most homeowners, the upfront cost of solar is worth paying. On average Lapeer homeowners see about $15,000 in savings on energy bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Lapeer
| Year | Return on Investment |
|---|---|
| 1 years | $-16,240 |
| 3 years | $-13,455 |
| 5 years | $-10,671 |
| 7 years | $-7,886 |
| 9 years | $-5,101 |
| 11 years | $-2,317 |
| 13 years | $468 |
| 15 years | $3,253 |
| 17 years | $6,037 |
| 19 years | $8,822 |
| 21 years | $11,607 |
| 23 years | $14,391 |
| 25 years | $17,176 |
Top Solar Installers in Lapeer
Although it's possible to install solar panels yourself, it involves extra time and knowledge. That's why most homeowners choose a solar panel installer. Another great thing about choosing a top solar installer is that it'll usually provide warranties and free repairs, which help protect your investment.
Working with a professional solar company can help your solar project go smoothly. 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
See all of the solar companies in Lapeer
Factors that Affect Solar Panel Costs in Lapeer
Cost is typically one of the most important factors for homeowners who want to invest in solar. There are a few primary factors that determine your overall cost in Lapeer: 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 energy your household consumes, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Lapeer.The type 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, more efficient panels could save you more in the long run on your electric bills. In addition, add-on products, such as solar batteries, can bring your total well above the Lapeer average.
Solar Financing Terms
If paying for solar panels in cash is out of reach, solar loans are a popular route because they decrease your upfront costs and allow you to pay for your system over five to seven years on average.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you go with a solar loan. Also, paying more on your down payment can lower the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to renewable energy can play a part in your total costs. There are about 3 solar panel companies operating throughout Lapeer, and each can charge varying amounts for labor and equipment.Larger national companies usually have lower costs, but some local companies compete with them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional 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 | $4.22 | $17,734 | $6,559 | 18.3 years |
| 8 kW | $4.14 | $23,191 | $9,200 | 17.9 years |
| 10 kW | $4.06 | $28,420 | $12,068 | 17.5 years |
| 12 kW | $3.98 | $33,422 | $15,164 | 17.2 years |
| 14 kW | $3.90 | $38,196 | $18,487 | 16.8 years |
| 16 kW | $3.82 | $42,744 | $22,038 | 16.5 years |
| 18 kW | $3.74 | $47,064 | $25,816 | 16.1 years |
| 20 kW | $3.65 | $51,156 | $29,821 | 15.8 years |
How to Save on Solar Panels
The solar panel company you choose will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are a few important things you should consider, including:
- Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a considerable role in the company you choose.
- Warranty: Warranties that provide coverage for panel repairs and maintenance over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a good company.
- Contract: Look through the contract terms closely to make sure you understand the total cost, completion timeline incentives and warranties.
- 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 satisfied reviews from past customers.
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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
EcoWatch's Lapeer, MI Solar Cost FAQs
What is the average cost of installing solar panels in Lapeer?
This is a difficult question to answer exactly, because the cost depends on a variety of factors. Generally speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you want a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Lapeer?
Solar panels aren’t free in Lapeer, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
How will having solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lapeer is currently $252,136, so you can look forward to a value of about $10,338 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Lapeer is a rewarding investment.
How long do solar panels last in Lapeer?
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 higher 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.