Solar Panel Cost Guide in Lockport, MI (2023 Update)
- Lockport Solar Installation Cost: $11,965
- 25-Year Savings: $21,089
- Payback Period: 9.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Lockport
Find out what the average cost of solar panels are in Lockport.
The national average cost of solar panels is $2.66 per watt, but in Lockport it's 2.81 per watt. The average solar panel system size in Lockport is around 6.1 kilowatts, meaning a cost of about $11,959 for a solar installation, or $17,101 before the 30% federal solar tax credit is applied.
These figures are only estimates, and how much solar costs for you will most likely vary based on the amount of energy your home requires and what company you want to go with. Many homeowners find going solar is a rewarding investment. The average homeowner in Lockport can save around $21,000 on their energy bills over 20 years.
To receive a free quote from a highly rated solar installation company in Lockport, you can click the button below.
Solar savings over time in Lockport
| Year | Return on Investment |
|---|---|
| 1 years | $-11,855 |
| 3 years | $-11,634 |
| 5 years | $-11,414 |
| 7 years | $-11,194 |
| 9 years | $-10,973 |
| 11 years | $-10,753 |
| 13 years | $-10,533 |
| 15 years | $-10,312 |
| 17 years | $-10,092 |
| 19 years | $-9,872 |
| 21 years | $-9,651 |
| 23 years | $-9,431 |
| 25 years | $-9,210 |
Top Solar Installers in Lockport
When going solar, many homeowners decide to use a solar installation company since DIY solar panel installation can be a time-consuming project. Another perk of going with a solar installer is that they can help you make the most of your return of investment by bringing down your future costs of repairs and replacements with the help of warranties and informing you of local incentives you can take advantage of.
If you're on the hunt for a solar installer in Lockport, we've organized a list of our top suggestions here:
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 Lockport
Factors that Affect Solar Panel Costs in Lockport
Though the average cost of a solar system in Lockport is $11,959, your final cost may differ. There are several factors that can have a significant 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 significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend around $2,810 per kilowatt in Lockport. The kind of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get 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 power bills. In addition, extra products, like solar batteries, can bump up your total well above the Lockport average.
Solar Financing Terms
Many homeowners find the average cost of solar in Lockport to be too expensive, even if the investment pays off over time. Fortunately, nearly every solar installer in the area provides financing options. Solar loans substantially decrease upfront costs in most cases, but they also lead to paying more over time because of interest. You'll have to consider the long-term cost of financing options, including the amount of interest you'll pay over the length of the loan. If you're only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
A final consideration when trying to evaluate the cost of solar for your home or business in Lockport is the company you get to install your solar panel system. As with 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. The company's size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing because of more resources and better 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 down 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 | $20,329 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,421 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,669 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,075 | 8.9 years |
| 14 kW | $2.70 | $26,436 | $49,638 | 8.7 years |
| 16 kW | $2.64 | $29,584 | $57,359 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,237 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,272 | 8.1 years |
How to Save on Solar Panels
Since the brand of solar panels and the installation company you choose has an impact on your costs and your system's efficiency, production, and durability, it's important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years in most cases provide high-quality solar panel installation and expertise.
- Solar Panel Brands: Different companies offer various brands and kinds of panels. If you prefer a specific brand, make sure the solar panel installer you're considering has it.
- Warranty: Many companies offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: It's important to look over your solar installer's contract thoroughly to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
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 Lockport, MI Solar Cost FAQs
What is the average cost of installing solar panels in Lockport?
The average cost of solar panels in Lockport is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Lockport?
A solar panel system isn't free in Lockport, 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.
How will installing solar panels impact the value of my home?
Solar panels can increase your property's value remarkably as long as you buy or finance your panels and don't opt for a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
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 the amount of sunlight your roof gets. You can 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 buy 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.