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
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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:
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.
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.
EcoWatch's Lyon, MI Solar Cost FAQs
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.