Solar Panel Cost Guide in Lowell, MI (2025 Update)
- Lowell Solar Installation Cost: $17,551
- 25-Year Savings: $22,349
- Payback Period: 12.7 Years
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Average Cost of Solar Panels in Lowell
Find out what the average cost of solar panels are in Lowell.
While the national average of solar panels is $2.66 per watt, solar panels in Lowell generally cost around 4.Using this figure, a typical 6.2-kW system would cost about $17,551 before the 0 federal solar tax credit is applied.
These figures are just averages, and how much solar costs for you will look different based on the amount of energy your home requires and what company you go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Lowell see about $21,000 in savings on electricity bills over 20 years.
To get a free estimate from a pre-vetted solar company in Lowell, you can click the button below.
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
Trying to put up solar panels by yourself can be a stressful undertaking, which is why getting a solar installation company is a good option for many homeowners. Plus, if you’re not certain what kind of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
If you're searching for a solar installer in Lowell, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Lowell
Factors that Affect Solar Panel Costs in Lowell
Although the average cost of a solar system in Lowell is $17,551, your actual cost may differ. There are several factors that can have a sizable impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The size of the solar panel system you need to offset your energy usage, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. There are a lot of different solar panel brands and the one you choose also changes the cost. Generally speaking, the brands that have better efficiency tend to also be more expensive. Plus, the type of equipment you’re looking to install can affect your total cost. If you only 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 solar out of pocket can be a challenge. Solar loans are available from most installers in Lowell, which can lower, or in some cases completely eliminate, your upfront costs to make solar more affordable.You’ll have to consider the long-term cost of loans, 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 more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs considerably.
Solar Panel Installation Company
The solar company you select will influence 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 make good use of additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. 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 | $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 solar panel company you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are some important things you should consider, such as:
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, including when the site survey will be done and how long it will take.
- Reputation: Your solar installer should have a solid reputation as a company and have verifiable 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 satisfied reviews from past customers.
- Solar Panel Brands: Different companies carry various brands and types of panels. If you know you want a specific brand, make sure the solar panel company you’re considering has it.
- Contract: Before you sign a contract with a solar installer, make sure to look it over completely so you understand the terms. Also, ask questions if you aren’t sure about some of the terms, such as what the warranty covers and what services you can expect from them.
EcoWatch's Lowell, MI Solar Cost FAQs
How much does it cost to install solar panels in Lowell?
This is a tough question to answer exactly, because the cost depends on a few different 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. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy consumption. Conversely, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can trump the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Does Lowell have a net metering program?
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 offer you credit toward your future electricity bills.
How long do solar panels last in Lowell?
Although the average lifespan of solar panels is 25 to 30 years, that doesn't mean they should be disposed of at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use them at a lower efficiency.
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.