Solar Panel Cost Guide in Lowell, MI (2024 Update)
- Lowell Solar Installation Cost: $17,551
- 25-Year Savings: $22,349
- Payback Period: 12.7 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Lowell
Find out what the average cost of solar panels are in Lowell.
The average cost of a solar system in Lowell is 4 per watt.Using this figure, a typical 6.2-kW system would cost about $17,551 before the 0 federal solar tax credit is applied.
The true price you pay can be higher or lower than the average in Lowell based on several factors, such as the model of solar panels you choose and the solar company you hire.Despite the significant initial cost, the average Lowell homeowner can save around $21,000 on their energy bills over 20 years, which is one of the advantages of solar.
Click the button below to get connected to a highly rated solar panel company in Lowell for a custom quote.
Solar savings over time in Lowell
| Year | Return on Investment |
|---|---|
| 1 years | $-16,297 |
| 3 years | $-13,790 |
| 5 years | $-11,282 |
| 7 years | $-8,775 |
| 9 years | $-6,268 |
| 11 years | $-3,760 |
| 13 years | $-1,253 |
| 15 years | $1,255 |
| 17 years | $3,762 |
| 19 years | $6,269 |
| 21 years | $8,777 |
| 23 years | $11,284 |
| 25 years | $13,792 |
Top Solar Installers in Lowell
Although it's possible to install solar panels on your own, it takes extra effort and expertise. For that reason, the majority of homeowners choose a solar panel installer. Plus, if you’re not certain what type of solar panels and equipment you need, a solar company can help you figure that out after a site survey and consultation.
If you're on the hunt for a solar company in Lowell, we've put together a list of our top suggestions here:
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 Lowell
Factors that Affect Solar Panel Costs in Lowell
There are many factors that can affect your total 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
One of the most significant 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 energy your household consumes, the larger your system will likely need to be. You can expect to spend about $4,060 per kilowatt in Lowell.The brand and kind of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often come at a higher price 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Lowell, which can reduce, or in some cases completely eliminate, your upfront costs to make solar more accessible.However, the interest on solar loans also adds to your all-in costs, so it’s vital to keep that in mind as well. You can always bring down the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar installer you choose will affect your total cost to go solar. Different companies will bill different amounts for the equipment and labor.Additionally, some companies in Lowell know more about local solar incentives and can help you take advantage of 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 | $15,782 | 13.2 years |
| 8 kW | $4.14 | $23,191 | $21,497 | 13.0 years |
| 10 kW | $4.06 | $28,420 | $27,439 | 12.7 years |
| 12 kW | $3.98 | $33,422 | $33,609 | 12.5 years |
| 14 kW | $3.90 | $38,196 | $40,007 | 12.2 years |
| 16 kW | $3.82 | $42,744 | $46,631 | 12.0 years |
| 18 kW | $3.74 | $47,064 | $53,483 | 11.7 years |
| 20 kW | $3.65 | $51,156 | $60,563 | 11.4 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. Since selecting a company can be a tough decision, we have some tips to help you, such as:
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the project timeline.
- Reputation: Companies that have been in business for many years 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 quality aftercare and customer service, such as part repairs and replacements.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you hire.
- Contract: It’s important to read through your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the installation process.
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 Lowell, MI Solar Cost FAQs
What is the average cost of installing solar panels in Lowell?
This is a tough question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider in addition to cost when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to think about are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Lowell?
Each state has some form of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.
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.