Solar Panel Cost Guide in Ludington, MI (2024 Update)
- Ludington Solar Installation Cost: $16,603
- 25-Year Savings: $23,013
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Ludington
Let’s have a look at the average cost of solar panels in Ludington.
In Ludington, solar panels cost about 4 per watt on average.The average Ludington homeowner needs a 5.8-kilowatt system, which would cost about $16,603 with the federal tax credit, or $23,742 before the 0 tax credit is applied.
These figures are only averages, and how much solar costs for you may look different based on factors unique to your home and what company you choose to go with.Many homeowners find going solar is a solid investment. The average homeowner in Ludington can save around $22,000 on their electricity bills over 20 years.
For a free quote from a local solar company that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Ludington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,349 |
| 3 years | $-12,842 |
| 5 years | $-10,334 |
| 7 years | $-7,827 |
| 9 years | $-5,320 |
| 11 years | $-2,812 |
| 13 years | $-305 |
| 15 years | $2,203 |
| 17 years | $4,710 |
| 19 years | $7,217 |
| 21 years | $9,725 |
| 23 years | $12,232 |
| 25 years | $14,740 |
Top Solar Installers in Ludington
Putting up solar panels yourself can be a dangerous undertaking, which is why getting a solar installer is a good option for many homeowners. Local solar companies can also help you optimize your return on investment by assisting with any local incentives you can take advantage of and by providing warranties and repairs.
You can work with a local solar installer to get a free estimate on how much your investment in solar could cost for your home. Here are some near you:
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 Ludington
Factors that Affect Solar Panel Costs in Ludington
While the average cost of a solar system in Ludington is $16,603, your final cost may differ. There are quite a few factors that can have a major impact on the cost of a solar system installation. Below are some of the more important things to keep in mind.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to a few different factors. One of the major factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $4,060.The type of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Further, solar equipment consists of more than just the solar panels themselves. You’ll also need to make decisions about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Ludington offer solar loans, which reduce the initial cost of installing solar panels.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 can only get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the original cost. Making a larger down payment or finding a solar loan with a low interest rate could reduce your costs considerably.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Ludington is the company you choose to install your solar panel system. Similar to choosing a company to renovate your kitchen, for instance, you’ll have many options for solar installers that offer a range of services at different price points.You may come across national solar installers that have lower prices because of their larger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
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 | $17,704 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $24,060 | 12.3 years |
| 10 kW | $4.06 | $28,420 | $30,643 | 12.0 years |
| 12 kW | $3.98 | $33,422 | $37,454 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,492 | 11.5 years |
| 16 kW | $3.82 | $42,744 | $51,757 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $59,250 | 11.1 years |
| 20 kW | $3.65 | $51,156 | $66,970 | 10.8 years |
How to Save on Solar Panels
There are numerous companies to choose from in Ludington, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to clarify any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
- Reputation: Your solar installer should have a good reputation as a company and have verifiable expertise in the field. Two ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, longevity and efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Contract: Although reading through a contract can take a lot of time, it’s important to do it fully so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
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 Ludington, MI Solar Cost FAQs
How much does it cost to install solar panels in Ludington?
This is a tough question to answer precisely, because the cost depends on many 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 extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
What other factors should I consider apart from cost when buying solar panels?
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 places where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to be mindful of are the quality and durability of your solar panels.
Does Ludington have a net metering program?
Most states offer net metering programs of some kind. Through these, you can either get paid for the extra power your system produces or or receive credits to put toward future electricity bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
How long do solar panels last in Ludington?
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.
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.