Solar Panel Cost Guide in Lyon, MI (Feb 2023)

  • Lyon Solar Installation Cost: $12,156
  • 25-Year Savings: $12,964
  • Payback Period: 12.1 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lyon

Find out what the average cost of solar panel installation is in Lyon.

The average cost of solar panels in Lyon is $3 per watt. The average Lyon homeowner needs a 6.2-kilowatt system, which would cost about $12,156, or $8,995 after the federal solar tax credit of 30% is applied.

Bear in mind that the figures above are only estimates based on the average energy use of Lyon homeowners. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor. But, once you've paid the initial cost of installation, the savings for most homeowners is quite good, with a net average savings of about $15,000 over 20 years on energy bills.

To calculate your potential ROI and connect with a local solar installer, click the button below.

Solar savings over time in Lyon

Year Return on Investment
1 years $-11,151
3 years $-9,142
5 years $-7,132
7 years $-5,123
9 years $-3,113
11 years $-1,103
13 years $906
15 years $2,916
17 years $4,925
19 years $6,935
21 years $8,945
23 years $10,954
25 years $12,964

Top Solar Installers in Lyon

Installing solar panels by yourself can be a dangerous project, which is why hiring a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Lyon, therefore optimizing your ROI.

There are various licensed solar professionals that can install solar panels for you. Here are our suggestions:

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Lyon

Factors that Affect Solar Panel Costs in Lyon

For many Lyon homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Lyon, with typical prices between $20,000 to $40,000. There are several factors that considerably influence the price you'll pay, which we'll go over below.

Solar Equipment

The size of the solar energy system you need to offset your energy usage, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $2,810. The 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. However, more efficient panels could save you more in the long run on your power bills. Additionally, extra products, such as solar batteries, can bring your total well above the Lyon average.

Solar Financing Terms

Solar panels can save you money on power bills over time, but they can also be a big investment. That's why many Lyon homeowners opt to finance their solar panel systems to make going solar more affordable. Although solar loans make adopting solar energy more accessible for Lyon homeowners, they can also raise the total you pay for your system, depending on your interest rate. If you make a larger down payment, though, you can avoid paying as much in interest.

Solar Panel Installation Company

Finally, the company you hire to install your solar system can affect how much it costs. Lyon's solar companies all have different labor costs and add varying upcharges to equipment. Larger national companies usually have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric car charger installation, they might be cheaper overall.

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 $12,125 12.6 years
8 kW $2.87 $16,051 $16,481 12.3 years
10 kW $2.81 $19,670 $20,995 12.1 years
12 kW $2.75 $23,132 $25,666 11.9 years
14 kW $2.70 $26,436 $30,494 11.6 years
16 kW $2.64 $29,584 $35,480 11.4 years
18 kW $2.59 $32,574 $40,623 11.1 years
20 kW $2.53 $35,406 $45,924 10.9 years

How to Save on Solar Panels

There are many companies to choose from in Lyon, and some homeowners feel overwhelmed considering their options. Choosing the right company for you can be challenging, so here are some tips to help you decide:

  • Reputation: Long-running companies likely have a solid 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 support, such as part repairs and replacements.
  • Contract: Review the contract terms closely to make sure you understand how much it will cost, project completion timeline rebates and warranties.
  • Solar Panel Brands: Each solar panel brand and type offers varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose has an impact on which solar panel brands you have access to.
  • Warranty: Companies typically offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.

Best National Provider

SunPower

★★★★★
5.0

  • 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

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • 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 Lyon, MI Solar Cost FAQs

What is the average cost of installing solar panels in Lyon?

This is a tough question to answer exactly, because the cost depends on many factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you choose a smaller solar panel system or cheaper solar panels.

What other factors should I consider other than cost when buying solar panels?

Cost is certainly one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.

Is going solar worth it?

Solar panels can be a great investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.

How many solar panels do I need to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.

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.

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