Solar Panel Cost Guide in Leroy, MI (2023 Update)
- Leroy Solar Installation Cost: $12,018
- 25-Year Savings: $22,653
- Payback Period: 8.7 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Leroy
See how much it might cost to switch to solar power in Leroy.
In Leroy, solar panels cost about 2.81 per watt on average. The average Leroy homeowner needs a 6.1-kilowatt system, which would cost about $12,018 with the federal tax credit, or $17,186 before the 30% tax credit is applied.
Remember 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 equipment you want, your solar contractor and more. But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite fruitful, with a net average savings of about $22,000 over 20 years on energy bills.
Click the button below to get connected to a reputable solar company in your area for a custom quote.
Solar savings over time in Leroy
| Year | Return on Investment |
|---|---|
| 1 years | $-10,632 |
| 3 years | $-7,858 |
| 5 years | $-5,084 |
| 7 years | $-2,310 |
| 9 years | $463 |
| 11 years | $3,237 |
| 13 years | $6,011 |
| 15 years | $8,785 |
| 17 years | $11,558 |
| 19 years | $14,332 |
| 21 years | $17,106 |
| 23 years | $19,879 |
| 25 years | $22,653 |
Top Solar Installers in Leroy
When going solar, many homeowners choose to use a solar installer since overseeing your solar installation yourself can be a challenging project. Also, if you'd like to maximize your investment in solar, opting for a solar company can help with that as well. Different providers can offer warranties, expertise on how to install solar panels and sometimes even information on local incentives.
If you'd like to go solar but still aren't certain which solar system company to go with, here are our suggestions for providers near you:
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 Leroy
Factors that Affect Solar Panel Costs in Leroy
Although the average cost of a solar system in Leroy is $12,018, your actual cost may differ. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
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 power your household consumes, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in Leroy. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that are more efficient tend to also cost more. Additionally, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is out of reach, solar loans are a popular option because they lower your upfront costs and let you pay for your system over five to seven years on average. While solar loans make switching to solar energy more accessible for Leroy homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
A final factor to consider when trying to evaluate the cost of solar for your home or business in Leroy is the company you hire to install your PV system. Similar to choosing a company to build a deck or pool, for instance, you'll have no shortage of solar installers that offer a range of services for different budgets. The company's size sometimes plays the most significant role in the installation costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have greater resources and bulk 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 discount can bring their pricing lower 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 | $2.92 | $12,274 | $21,793 | 9.0 years |
| 8 kW | $2.87 | $16,051 | $29,372 | 8.8 years |
| 10 kW | $2.81 | $19,670 | $37,108 | 8.7 years |
| 12 kW | $2.75 | $23,132 | $45,002 | 8.5 years |
| 14 kW | $2.70 | $26,436 | $53,053 | 8.3 years |
| 16 kW | $2.64 | $29,584 | $61,262 | 8.1 years |
| 18 kW | $2.59 | $32,574 | $69,628 | 8.0 years |
| 20 kW | $2.53 | $35,406 | $78,151 | 7.8 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you pick the right company for you, here are some tips to keep in mind:
- Reputation: Well-established companies likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: The brand of solar panel you want to get plays a role in which company you should opt for, since different companies provide different panels.
- Contract: Before you sign a contract with a solar installer, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you care about the durability of your solar panels, making sure your company offers a 25-year, all-inclusive warranty can give you some peace of mind.
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 Leroy, MI Solar Cost FAQs
How much does it cost to install solar panels in Leroy?
The average cost of solar panels in Leroy 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 stuff such as the kind of solar panels you want, what size system you need and how much energy you consume.
Should I lease or buy solar panels in Leroy?
Leasing solar panels can be an attractive choice, as it usually 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.
Can you sell solar power back to the grid in Leroy?
Most states offer net metering programs of some kind. Through these, you can either be compensated for the extra power your system produces or or receive credits to put toward future utility bills. Currently there are just three states that don't have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and how much sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to account for their typical energy usage.
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.