Solar Panel Cost Guide in Lodi, MI (Mar 2023)
- Lodi Solar Installation Cost: $12,058
- 25-Year Savings: $13,062
- Payback Period: 12.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lodi
We go over average solar pricing in Lodi.
In Lodi, solar panels cost about 2.81 per watt on average. To cover the typical energy needs of the average home in Lodi, most homeowners require a 6.1-kilowatt system. Using the per-watt figure above, a solar installation costs around $12,058, or $17,243 before the federal solar tax credit of 30% is applied.
These figures are just averages, and the cost of going solar for you will most likely differ based on your energy needs and what company you choose to go with. Many homeowners find adopting solar power is a fruitful investment. The average homeowner in Lodi can save about $16,000 on their electricity bills over 20 years.
You can click the button below to get connected with a vetted solar installer in Lodi that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lodi
| Year | Return on Investment |
|---|---|
| 1 years | $-11,053 |
| 3 years | $-9,043 |
| 5 years | $-7,034 |
| 7 years | $-5,024 |
| 9 years | $-3,015 |
| 11 years | $-1,005 |
| 13 years | $1,005 |
| 15 years | $3,014 |
| 17 years | $5,024 |
| 19 years | $7,033 |
| 21 years | $9,043 |
| 23 years | $11,052 |
| 25 years | $13,062 |
Top Solar Installers in Lodi
Do-it-yourself solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Taking advantage of a solar company can make converting to solar power much easier. The expertise that solar companies offer can be valuable as well, especially if you aren't sure what kind of solar equipment would be right for your home.
If you're searching for a solar installer in Lodi, we've put together 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 Lodi
Factors that Affect Solar Panel Costs in Lodi
There are many factors that can influence your solar panel installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the main factors is the system size, which is measured in kilowatts (kW). Solar power systems with better efficiency or power generation use better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are many different solar panel brands and the one you choose also affects the cost. Generally speaking, the brands that are more efficient tend to also be more expensive. Additionally, the type of equipment you're looking to get can affect your total cost. If you just need panels, your system will be much less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for a solar system out of pocket can be a challenge. Solar loans are available from most installers in Lodi, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable. When considering your overall cost, you should also calculate the interest you'll pay if you go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
Finally, the company you opt for to install your solar system can play a part in determining the cost. Lodi's solar companies all have different labor costs and add varying upcharges to equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those major players.
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 | $12,316 | 12.5 years |
| 8 kW | $2.87 | $16,051 | $16,737 | 12.2 years |
| 10 kW | $2.81 | $19,670 | $21,314 | 12.0 years |
| 12 kW | $2.75 | $23,132 | $26,049 | 11.8 years |
| 14 kW | $2.70 | $26,436 | $30,941 | 11.5 years |
| 16 kW | $2.64 | $29,584 | $35,991 | 11.3 years |
| 18 kW | $2.59 | $32,574 | $41,198 | 11.0 years |
| 20 kW | $2.53 | $35,406 | $46,562 | 10.8 years |
How to Save on Solar Panels
Since the kind of solar panels and the installer you choose has an impact on your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Homeowners should understand how exactly the installation process will go, as well as important factors like the completion timeline.
- Contract: Before you sign a contract with a solar installer, make sure to read it through fully so you understand the terms. Also, ask questions if you aren't sure about some of the terms, such as what to do if a component breaks or malfunctions and if there are any guarantees about energy production.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a big role in the company you hire.
- Reputation: Your solar installer should have a solid reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
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 Lodi, MI Solar Cost FAQs
How much does it cost to install solar panels in Lodi?
The average cost of solar panels in Lodi 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 like the kind of solar panels you want, what size system you need and how much energy you use.
Are solar panels free in Lodi?
Solar panels aren't free in Lodi, but there are some options that can make getting them more viable, 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 my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lodi is currently $322,379, so you can expect a value of about $13,218 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lodi is a rewarding investment.
How long do solar panels last in Lodi?
On average, the lifespan of solar panels is 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.