Solar Panel Cost Guide in Leroy, MI (2024 Update)
- Leroy Solar Installation Cost: $17,354
- 25-Year Savings: $22,660
- Payback Period: 12.5 Years
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Average Cost of Solar Panels in Leroy
Find out what the average cost of a solar system is in Leroy.
Although the national average of solar panels is $2.66 per watt, solar panels in Leroy typically cost around 4.The average solar panel system size in Leroy is around 6.1 kilowatts, meaning a cost of about $17,354 for a solar installation, or $24,816 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.With average savings of about $22,000 on electricity bills over 20 years, many homeowners in Leroy find investing in solar can be quite rewarding.
To receive a free estimate from a pre-vetted solar installer in Leroy, you can click the button below.
Solar savings over time in Leroy
| Year | Return on Investment |
|---|---|
| 1 years | $-16,101 |
| 3 years | $-13,593 |
| 5 years | $-11,086 |
| 7 years | $-8,579 |
| 9 years | $-6,071 |
| 11 years | $-3,564 |
| 13 years | $-1,056 |
| 15 years | $1,451 |
| 17 years | $3,958 |
| 19 years | $6,466 |
| 21 years | $8,973 |
| 23 years | $11,480 |
| 25 years | $13,988 |
Top Solar Installers in Leroy
Although you can install solar panels by yourself, it requires extra energy and know-how. That's one of the reasons almost all homeowners choose to hire a solar panel installer. Some solar companies, particularly local ones, can help you take advantage of incentives in Leroy, optimizing your ROI.
Working with a licensed solar company can help you make the most of your investment in solar. 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 Leroy
Factors that Affect Solar Panel Costs in Leroy
For many Leroy homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Leroy, with typical prices between $20,000 to $40,000. There are numerous 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 Leroy, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home’s energy consumption, which you can figure out by looking at past power bills. Your total cost can increase by around $4,060 for each additional kilowatt you need.The type of solar panels and equipment you get is another factor that will largely affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to decide on the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that falls within your budget.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Leroy homeowners choose to finance their solar panel systems to make paying for solar more affordable.It’s wise to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay off the loan.
Solar Panel Installation Company
Finally, the company you choose to install your solar panels can play a role in determining your pricing. Leroy’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Leroy are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
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 | $16,333 | 13.0 years |
| 8 kW | $4.14 | $23,191 | $22,232 | 12.8 years |
| 10 kW | $4.06 | $28,420 | $28,358 | 12.5 years |
| 12 kW | $3.98 | $33,422 | $34,712 | 12.3 years |
| 14 kW | $3.90 | $38,196 | $41,293 | 12.0 years |
| 16 kW | $3.82 | $42,744 | $48,102 | 11.8 years |
| 18 kW | $3.74 | $47,064 | $55,138 | 11.5 years |
| 20 kW | $3.65 | $51,156 | $62,401 | 11.3 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because selecting a company can be a challenge, we have some tips to help you, such as:
- Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what you can expect about the cost.
- Installation Process: Make sure you’re aligned with the installer in regard to how the installation process will go and what needs to be done before your solar system is installed, such as updating or replacing your electrical system or roof.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for renewable energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a good reputation and is qualified to install your solar system. Another way you can look into your installer’s reputation is by reading reviews.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their locations and energy needs. While there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of offerings before deciding.
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 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 $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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Can you get solar panels for free in Leroy?
Solar panels aren’t free in Leroy, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is making the switch to solar worth it?
Solar panels can be a great investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How often do you have to replace solar panels?
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 larger 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.