Solar Panel Cost Guide in Meridian, MI (2023 Update)
- Meridian Solar Installation Cost: $12,136
- 25-Year Savings: $18,234
- Payback Period: 10.0 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Meridian
Here's how much it might cost to go solar in Meridian.
The national average cost of solar panels is $2.66 per watt, but in Meridian it's 2.81 per watt. Because a 6.2-kW system is needed to cover the energy costs of a typical home in Meridian, the average price of going solar will be about $12,136 after claiming the federal solar tax credit of 30%.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of going solar can vary based on multiple factors, such as what size system you need, your energy consumption and what solar installer you go with. Many homeowners find adopting solar power is a sound investment. The average homeowner in Meridian can save about $19,000 on their energy bills over 20 years.
To get a free quote from a pre-vetted solar installation company in Meridian, you can click the button below.
Solar savings over time in Meridian
| Year | Return on Investment |
|---|---|
| 1 years | $-10,922 |
| 3 years | $-8,492 |
| 5 years | $-6,062 |
| 7 years | $-3,633 |
| 9 years | $-1,203 |
| 11 years | $1,226 |
| 13 years | $3,656 |
| 15 years | $6,086 |
| 17 years | $8,515 |
| 19 years | $10,945 |
| 21 years | $13,374 |
| 23 years | $15,804 |
| 25 years | $18,234 |
Top Solar Installers in Meridian
Installing solar panels on your own can be a challenging task, which is why hiring a solar installation company is a good option for many homeowners. The payback period on an investment in solar panels will vary based on factors like your location and energy needs, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
Working with a licensed solar installer can make going solar easier. Here are our recommendations:
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 Meridian
Factors that Affect Solar Panel Costs in Meridian
For many Meridian homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Meridian, with typical prices between $20,000 to $40,000. There are numerous factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That's why it's a priority to accurately gauge the size of the solar energy system needed for your home by figuring out your energy needs. There are several different solar panel brands and the one you pick also affects the cost. Typically, the brands that offer higher efficiency tend to also be more expensive. Additionally, the type of equipment you want to install can affect your total cost. If you just need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a significant investment. That's why many Meridian homeowners opt to finance their solar panel systems to offset upfront costs. It's wise to factor the interest you'll pay in your final cost estimate. If you can afford to pay a larger down payment, you can reduce your total costs and how long it'll take to pay back the loan.
Solar Panel Installation Company
The solar installer you opt for to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies operating in Meridian, and each can charge different amounts for labor and equipment. The size of the company can sometimes play the most considerable role in your costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because of access to more resources and better pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger 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 | $17,246 | 10.4 years |
| 8 kW | $2.87 | $16,051 | $23,310 | 10.2 years |
| 10 kW | $2.81 | $19,670 | $29,531 | 10.0 years |
| 12 kW | $2.75 | $23,132 | $35,909 | 9.8 years |
| 14 kW | $2.70 | $26,436 | $42,444 | 9.6 years |
| 16 kW | $2.64 | $29,584 | $49,137 | 9.4 years |
| 18 kW | $2.59 | $32,574 | $55,987 | 9.2 years |
| 20 kW | $2.53 | $35,406 | $62,995 | 9.0 years |
How to Save on Solar Panels
There are a lot of companies available in Meridian, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be challenging, so here are some tips to help you decide:
- Warranty: If you care about the endurance of your solar system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you're considering has it.
- Contract: Even though reading through a contract can take a lot of time, it's important to do it thoroughly so you can make sure you understand how much the equipment and services will cost and the terms of the warranty.
- Reputation: Solar system installers that have great reviews from their customers and that have been in business for many years in most cases offer quality solar panel installation and expertise.
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 Meridian, MI Solar Cost FAQs
How much does it cost to install solar panels in Meridian?
The average cost of solar panels in Meridian 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 things such as the model 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?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Is making the switch to solar worth it?
Whether or not solar panels are worth it depends on a variety of factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How often do you have to replace solar panels?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can decide 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.