Solar Panel Cost Guide in Leoni, MI (2023 Update)
- Leoni Solar Installation Cost: $12,038
- 25-Year Savings: $22,189
- Payback Period: 8.8 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Leoni
Find out what the average cost of solar panels are in Leoni.
The average cost of solar panels in Leoni is 2.81 per watt. To account for the typical energy usage of the average home in Leoni, most homeowners require a 6.1-kilowatt system. Using the figure above, a solar installation costs around $12,038, or $17,214 before the federal solar tax credit of 30% is applied.
Remember that the numbers above are only averages. The price you'll end up paying for solar may vary based on your household energy needs, the type of solar system you choose, your solar contractor and more. Despite the significant initial cost, the average Leoni homeowner can save around $21,000 on their electricity bills over 20 years, which is one of the perks of solar.
To receive a free quote from a top solar company in Leoni, you can click the button below.
Solar savings over time in Leoni
| Year | Return on Investment |
|---|---|
| 1 years | $-10,669 |
| 3 years | $-7,931 |
| 5 years | $-5,193 |
| 7 years | $-2,454 |
| 9 years | $284 |
| 11 years | $3,022 |
| 13 years | $5,760 |
| 15 years | $8,498 |
| 17 years | $11,236 |
| 19 years | $13,974 |
| 21 years | $16,713 |
| 23 years | $19,451 |
| 25 years | $22,189 |
Top Solar Installers in Leoni
When making the switch to solar, many homeowners choose to go with a solar company since overseeing your solar installation yourself can be a time-consuming project. Also, if you'd like to maximize your investment in solar, opting for a solar company can help with that too. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
Working with a professional solar company can help you make the most of your investment in solar. 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
See all of the solar companies in Leoni
Factors that Affect Solar Panel Costs in Leoni
For many Leoni homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Leoni, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Leoni, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past energy bills. Your overall cost can increase by around $2,810 for each additional kilowatt you need. The brand and kind of equipment you choose for your solar system can raise or lower 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 a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
If paying for solar panels in cash is difficult, solar loans are a solid option because they lower your upfront costs and let you pay for your system over five to seven years on average. Though solar loans make adopting solar energy more accessible for Leoni homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The remaining major cost factor you should keep in mind is the installer you choose. Given the growing popularity of clean energy solutions in Leoni, you'll have a great number of options to choose from, but each comes at varying price points for labor and equipment. Larger national companies generally have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have access to 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 | $2.92 | $12,274 | $21,262 | 9.1 years |
| 8 kW | $2.87 | $16,051 | $28,664 | 9.0 years |
| 10 kW | $2.81 | $19,670 | $36,224 | 8.8 years |
| 12 kW | $2.75 | $23,132 | $43,941 | 8.6 years |
| 14 kW | $2.70 | $26,436 | $51,815 | 8.4 years |
| 16 kW | $2.64 | $29,584 | $59,847 | 8.3 years |
| 18 kW | $2.59 | $32,574 | $68,036 | 8.1 years |
| 20 kW | $2.53 | $35,406 | $76,382 | 7.9 years |
How to Save on Solar Panels
There are many companies to choose from in Leoni, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be difficult, so here are some tips to help you decide:
- Solar Panel Brands: Different companies will have various brands and models of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Contract: When looking over your solar company's contract, ask questions about any terms you're not sure of and make sure you understand what happens in scenarios such as a system component breaking or if the company goes out of business.
- Warranty: A quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by previous customers and solar experts like the EcoWatch team.
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 Leoni, MI Solar Cost FAQs
What is the average cost of installing solar panels in Leoni?
The average cost of solar panels in Leoni is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on certain factors like the type of solar panels you want, what size system you need and how much energy you use.
Is it better to lease or buy solar panels in Leoni?
Leasing solar panels can be an attractive choice, as it commonly comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to get the most savings.
How much can I save on electricity bills after switching to solar?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $1,117.88 per year.
How long do solar panels last in Leoni?
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 the amount of energy they produce will have decreased significantly after that point. You can decide to 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.