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 generally cost about 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 figures above are only estimates based on the average Leroy homeowner. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a rewarding investment. The average homeowner in Leroy can save around $22,000 on their electricity bills over 20 years.
You can click the button below to get connected with a top solar company in Leroy that can help you get a more accurate cost estimate for your home.
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 on your own, it takes extra labor and handiness. That's why most homeowners choose a solar panel installer. Plus, if you’d like to maximize your investment in solar power, 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 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 Leroy
Factors that Affect Solar Panel Costs in Leroy
Although the average cost of a solar system in Leroy is $17,354, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
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 uses, the larger your system will likely need to be. You can expect to pay about $4,060 per kilowatt in Leroy.The brand and kind of equipment you get 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 have a higher price tag 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
For some homeowners, paying for a solar system out of pocket can be challenging. Solar loans are available from most installers in Leroy, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your all-in costs, so it’s vital to take that into consideration as well. You can always lower the total you pay in interest and in some cases even your APR by putting more money down.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Leroy is the company you get to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that offer a range of services for different budgets.Additionally, some companies in Leroy have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you 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
There are many solar installers to choose from, all of which offer different warranties, solar panel brands and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Though reading through a contract can take a lot of time, it’s important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project timeline.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it likely has a good reputation and is qualified to do the job well. Another way you can research your installer’s reputation is by reading reviews.
- Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose impacts which solar panel brands you have access to.
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 Leroy, MI Solar Cost FAQs
How much does it cost to install solar panels in Leroy?
This is a tough question to answer precisely, 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. You can expect to pay more if you want other solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
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 further reduce the cost.
Is making the switch to solar worth it?
Solar panels can be a fruitful investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Leroy?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher level 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.