Solar Panel Cost Guide in South Lyon, MI (Oct 2022)

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

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EcoWatch Local Advisors

By EcoWatch Local Advisors

Updated 9/16/2022

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Average Cost of Solar Panels in South Lyon

Let's take a look at the average cost of solar in South Lyon.

While the national average of solar panels is $2.66 per watt, solar panels in South Lyon generally cost around $3. The average solar panel system size in South Lyon is around 6.2 kilowatts, meaning a cost of about $12,156 for a solar installation, or $8,995 after the 30% federal solar tax credit is applied.

The prices above are just estimates to give you an idea of the cost of a solar panel system. The true cost of making the switch to solar can vary based on several factors, such as how many panels you need, your energy consumption and what solar installer you go with. Despite the large upfront cost, the average South Lyon homeowner can save about $15,000 on their power bills over 20 years, which is one of the benefits of solar.

You can click the button below to get connected with a pre-vetted solar company in South Lyon that can help you get a more accurate cost estimate for your home.

Solar savings over time in South 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 South Lyon

When going solar, many homeowners choose to go with a solar installation company since DIY solar panel installation can be a time-consuming project. Local solar installation companies can also help you optimize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.

If you're looking for a solar company in South Lyon, the EcoWatch team has compiled a list of our top suggestions here:

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 South Lyon

Factors that Affect Solar Panel Costs in South Lyon

Even though the average cost of solar panels in South Lyon is $12,156, your final cost may be higher or lower than that. There are quite a few factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more important things to keep in mind.

Solar Equipment Size

One of the most significant factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household uses, the larger your system will likely need to be. You can expect to pay around $2,810 per kilowatt in South Lyon. The brand and kind of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag 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 can expect a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want extra equipment like an electric vehicle charger or solar batteries, this will also raise the cost.

Solar Financing Terms

For some homeowners, paying for solar panels out of pocket can be challenging. Solar loans are available from most installers in South Lyon, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible. When figuring out your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.

Solar Panel Installation Company

The solar company you choose to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in South Lyon, and each can charge different amounts for labor and equipment. Additionally, some companies in South Lyon are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. Though, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

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

Solar Incentives in South Lyon

Name Michigan Saves - Home Energy Loan Program
Incentive Amount $30,000
Website Visit here
More Info Click here

Name Residential Renewable Energy Tax Credit
Website Visit here
More Info Click here

How to Save on Solar Panels

The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be a tough decision, we have some tips to help you, such as:

  • Contract: Though reading through a contract can take a lot of time, it's important to do it fully so you can be sure you understand what services your solar company will provide and the terms of the warranty.
  • Reputation: Make sure your solar installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
  • Solar Panel Brands: Not all solar installers carry the same brands of solar panels, so the brand and type of panel you want can play a substantial role in the company you choose.
  • Warranty: Each company may offer different types 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 South Lyon, MI Solar Cost FAQs

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

The average cost of solar panels in South Lyon 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 such as the kind of solar panels you want, what size system you need and how much energy you use.

Can you get solar panels for free in South Lyon?

Solar panels aren't free in South Lyon, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that you can take advantage of.

Can you sell solar power back to the grid in South Lyon?

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 offer you credit toward your future electricity bills.

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

The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.

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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