Solar Panel Cost Guide in Grand Rapids, WI (2024 Update)
- Grand Rapids Solar Installation Cost: $20,025
- 25-Year Savings: $20,354
- Payback Period: 14.8 Years
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Average Cost of Solar Panels in Grand Rapids
Find out how much it might cost to switch to solar power in Grand Rapids.
In Grand Rapids, solar panels cost about 4 per watt on average.To cover the typical energy usage of the average home in Grand Rapids, most homeowners require a 7.4-kilowatt system. Using the figure above, a solar installation costs around $20,025, or $28,636 before the federal solar tax credit of 0 is applied.
The true cost of your system can go above or below the average in Grand Rapids based on a few factors, such as the type of solar panels you choose and the solar contractor you hire.Despite the large initial cost, the average Grand Rapids homeowner can save about $17,000 on their electricity bills over 20 years, which is one of the perks of solar.
Click the button below to get connected to a top solar company in Grand Rapids for a custom estimate.
Solar savings over time in Grand Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-19,336 |
| 3 years | $-17,959 |
| 5 years | $-16,581 |
| 7 years | $-15,204 |
| 9 years | $-13,826 |
| 11 years | $-12,449 |
| 13 years | $-11,071 |
| 15 years | $-9,693 |
| 17 years | $-8,316 |
| 19 years | $-6,938 |
| 21 years | $-5,561 |
| 23 years | $-4,183 |
| 25 years | $-2,806 |
Top Solar Installers in Grand Rapids
When making the switch to solar, many homeowners prefer to go with a solar installation company since handling can be a difficult project. Solar warranties and repairs are ordinarily included in the cost of installation when you go with a solar contractor as well, which can save you more money after your upfront investment.
There are various licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 Grand Rapids
Factors that Affect Solar Panel Costs in Grand Rapids
Although the average cost of a solar system in Grand Rapids is $20,025, your actual cost may be above or below the average. There are several factors that can have a major impact on the cost of a solar system installation. Below are some of the more crucial things to keep in mind.
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 a priority to accurately assess the size of the solar energy system needed for your home by figuring out your typical energy use.The model of solar panels and equipment you want is another factor that will considerably affect costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Plus, solar equipment goes beyond just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when searching for a solar system that’s in your budget.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be financially overwhelming. Solar loans are available from most installers in Grand Rapids, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more affordable.It’s a good idea to add the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
Finally, the company you get to install your solar panel system can influence the cost. Grand Rapids’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing because they have access to more resources and bulk 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 down 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 | $4.04 | $16,948 | $10,536 | 15.4 years |
| 8 kW | $3.96 | $22,163 | $14,483 | 15.1 years |
| 10 kW | $3.88 | $27,160 | $18,646 | 14.8 years |
| 12 kW | $3.80 | $31,940 | $23,027 | 14.5 years |
| 14 kW | $3.72 | $36,503 | $27,626 | 14.2 years |
| 16 kW | $3.65 | $40,849 | $32,442 | 13.9 years |
| 18 kW | $3.57 | $44,977 | $37,474 | 13.6 years |
| 20 kW | $3.49 | $48,888 | $42,725 | 13.3 years |
How to Save on Solar Panels
Since the model of solar panels and the installer you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different prices as well. The company you choose plays a role in which solar panel brands you have access to.
- Warranty: If you care about the durability of your solar panels, checking if your installer offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases offer quality solar panel installation and expertise.
- Installation Process: Homeowners should understand how exactly the installation process will be carried out, as well as important factors like the completion timeline.
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 Grand Rapids, WI Solar Cost FAQs
What is the average cost of installing solar panels in Grand Rapids?
This is a hard question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $19,400 for a 5-kW system and $38,800 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or more efficient panels, or if you have above-average energy usage. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Is cost the most important consideration when buying solar panels?
Cost is a key factor to consider, but whether it’s the most important for you depends on your reasons for going solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Grand Rapids have a net metering program?
Most states have net metering programs of some kind. Through these, you can either get paid for the extra power your system generates or or receive credits to put toward future energy bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.
What solar power system size is right for my home?
To figure out how many solar panels you need, you need to know how much energy your home needs and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
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.