Solar Panel Cost Guide in Lyons, MI (Mar 2023)
- Lyons Solar Installation Cost: $12,136
- 25-Year Savings: $21,552
- Payback Period: 9.0 Years
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Updated March 14, 2023
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Average Cost of Solar Panels in Lyons
Let's have a look at the average cost of solar in Lyons.
The average cost of a solar panel system in Lyons is 2.81 per watt. Using this figure, a typical 6.2-kW system would cost about $12,136 before the 30% federal solar tax credit is applied.
Remember that the numbers above are only averages. The price you'll pay for solar may vary based on your household energy needs, the type of solar panels you want to get, your solar contractor and more. For many homeowners, the upfront investment in solar is worth paying. On average homeowners in Lyons see about $21,000 in savings on energy bills over 20 years.
You can click the button below to get connected with a pre-vetted solar installer in Lyons that can help you get a more accurate cost estimate for your home.
Solar savings over time in Lyons
| Year | Return on Investment |
|---|---|
| 1 years | $-10,789 |
| 3 years | $-8,094 |
| 5 years | $-5,399 |
| 7 years | $-2,704 |
| 9 years | $-9 |
| 11 years | $2,687 |
| 13 years | $5,382 |
| 15 years | $8,077 |
| 17 years | $10,772 |
| 19 years | $13,467 |
| 21 years | $16,162 |
| 23 years | $18,857 |
| 25 years | $21,552 |
Top Solar Installers in Lyons
When switching to solar energy, many homeowners decide to hire a solar company since DIY solar panel installation can be a challenging project. Plus, if you're not certain what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
You can get a free estimate from a local solar installer on the cost of solar panels for your home. Here are some in Lyons:
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 Lyons
Factors that Affect Solar Panel Costs in Lyons
Cost is usually one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Lyons: solar equipment and system size, financing options and the solar installation company you choose. We'll go over each of these briefly below.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of installing solar panels. For that reason, it's crucial to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The brand and kind of equipment you want for your solar system can increase or decrease 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That's why many Lyons homeowners choose to finance their solar panel systems to offset upfront costs. However, the interest on solar loans also increases your all-in costs, so it's crucial 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 putting more money down.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Lyons is the company you hire to install your solar panel system. As with choosing a company to renovate your kitchen, for instance, there's no shortage of solar installers that provide a range of services for different budgets. You may see national solar installers that have lower prices due to their bigger brand name and access to bulk 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 | $2.92 | $12,274 | $20,512 | 9.4 years |
| 8 kW | $2.87 | $16,051 | $27,665 | 9.2 years |
| 10 kW | $2.81 | $19,670 | $34,974 | 9.0 years |
| 12 kW | $2.75 | $23,132 | $42,441 | 8.8 years |
| 14 kW | $2.70 | $26,436 | $50,066 | 8.6 years |
| 16 kW | $2.64 | $29,584 | $57,847 | 8.5 years |
| 18 kW | $2.59 | $32,574 | $65,786 | 8.3 years |
| 20 kW | $2.53 | $35,406 | $73,883 | 8.1 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you select the right company for you, here are some tips to keep in mind:
- Contract: Before signing a contract with a solar company, make sure you look it over carefully so you understand the terms. Also, ask questions if you're unsure about some of the terms, such as what to do if a part breaks or malfunctions and what services you can expect from them.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their roof configurations and energy needs. Although there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you peruse their list of options before deciding.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will go, as well as important factors like the project completion timeline.
- Warranty: If you're concerned about the longevity of your solar panel system, making sure your installer offers a 25-year, all-inclusive warranty can help put you at ease.
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 Lyons, MI Solar Cost FAQs
How much does it cost to install solar panels in Lyons?
The average cost of solar panels in Lyons is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the actual cost will depend on stuff like the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Can you sell solar power back to the grid in Lyons?
Each state has some kind 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 electricity bills.
How long do solar panels last in Lyons?
On average, the lifespan of solar panels is 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 level 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.