Solar Panel Cost Guide in Lansing, NY (2024 Update)
- Lansing Solar Installation Cost: $11,905
- 25-Year Savings: $5,580
- Payback Period: 19.6 Years
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Average Cost of Solar Panels in Lansing
See how much it might cost to go solar in Lansing.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Lansing, the typical cost of a solar system is 4 per watt.The average Lansing homeowner needs a 4.7-kilowatt system, which would cost about $11,905 with the federal tax credit, or $17,024 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar panel system could cost. The actual cost of going solar can vary quite a bit depending on multiple factors, such as how many panels you need, your energy consumption and what company you go with.But, once you've paid the initial cost of installation, the return on investment for most homeowners is quite good, with a net average savings of about $12,000 over 20 years on electricity bills.
Click the button below to get connected to a top solar installer in your area for a custom quote.
Solar savings over time in Lansing
| Year | Return on Investment |
|---|---|
| 1 years | $-11,080 |
| 3 years | $-9,428 |
| 5 years | $-7,776 |
| 7 years | $-6,124 |
| 9 years | $-4,472 |
| 11 years | $-2,820 |
| 13 years | $-1,169 |
| 15 years | $483 |
| 17 years | $2,135 |
| 19 years | $3,787 |
| 21 years | $5,439 |
| 23 years | $7,091 |
| 25 years | $8,743 |
Top Solar Installers in Lansing
DIY solar panel installation is a possibility, but it's an undertaking that can be a pain. Taking advantage of a solar panel installer can make your switch to solar power much easier. Plus, warranties and repairs from your solar panel company can protect your investment and lower the cost of maintenance over time.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
See all of the solar companies in Lansing
Factors that Affect Solar Panel Costs in Lansing
Though the average cost of a solar system in Lansing is $11,905, your actual cost may be above or below the average. There are quite a few factors that can have a sizable impact on the cost of a residential solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most important factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to spend around $3,650 per kilowatt in Lansing.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 are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you can expect 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 increase the cost.
Solar Financing Terms
Many homeowners find the average cost of solar in Lansing to be prohibitively steep, even if the investment pays off over time. Fortunately, almost every solar company in the area provides access to financing options. Solar loans drastically decrease upfront costs for most homeowners, but they also result in higher prices over time because of interest.Even though solar loans make going solar more accessible for Lansing homeowners, they can also increase the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can avoid paying as much in interest.
Solar Panel Installation Company
The solar panel installer you pick will play a role in your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.Additionally, some companies in Lansing are more knowledgeable about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $3.80 | $15,943 | $3,631 | 20.4 years |
| 8 kW | $3.72 | $20,849 | $5,251 | 20.0 years |
| 10 kW | $3.65 | $25,550 | $7,074 | 19.6 years |
| 12 kW | $3.58 | $30,047 | $9,102 | 19.2 years |
| 14 kW | $3.50 | $34,339 | $11,335 | 18.8 years |
| 16 kW | $3.43 | $38,427 | $13,772 | 18.4 years |
| 18 kW | $3.36 | $42,311 | $16,413 | 18.0 years |
| 20 kW | $3.29 | $45,990 | $19,259 | 17.6 years |
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 selecting a company can be difficult, we have some tips to help you, such as:
- Installation Process: Make sure you’re on the same page with the installer with regard to how the installation process will go and what you need to do before your solar panels are installed, such as updating or replacing your electrical system or roof.
- Solar Panel Brands: Homeowners will have different preferences for panels depending on their roof configurations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so be sure to take a look at their list of options before making your decision.
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Reputation: The North American Board of Certified Energy Practitioners (NABCEP) is a respected certification organization for clean energy professionals. If your solar panel installer is NABCEP-certified, it most likely has a solid reputation and is qualified to get the job done well. Another way you can research your installer’s reputation is by reading reviews.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
EcoWatch's Lansing, NY Solar Cost FAQs
What is the average cost of installing solar panels in Lansing?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. It will be more expensive if you want other solar equipment or more efficient panels, or if you have above-average energy needs. On the flip side, you can spend less if you opt for 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 things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase how much your home is worth?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Lansing is currently $244,506, so you can expect a value of about $10,025 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Lansing is a fruitful investment.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy needs and how much 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 install between 20 and 35 panels to account for 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.