Solar Panel Cost Guide in Grand Rapids, WI (2023 Update)
- Grand Rapids Solar Installation Cost: $13,419
- 25-Year Savings: $20,354
- Payback Period: 9.9 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Grand Rapids
Let's take a look at the average cost of solar panels in Grand Rapids.
In Grand Rapids, solar panels cost about 2.6 per watt on average. Since a 7.4-kW system is needed to cover the energy needs of a typical home in Grand Rapids, the average price of going solar will be about $13,413 after claiming the federal solar tax credit of 30%.
Remember that the numbers above are only averages. The price you'll pay for solar will differ based on your household energy consumption, the type of solar system you want, your solar contractor and more. Even with the high upfront cost, the average Grand Rapids homeowner can save about $17,000 on their energy bills over 20 years, which is one of the advantages of solar.
To get a free quote from a pre-vetted solar installer in Grand Rapids, you can click the button below.
Solar savings over time in Grand Rapids
| Year | Return on Investment |
|---|---|
| 1 years | $-13,306 |
| 3 years | $-13,081 |
| 5 years | $-12,856 |
| 7 years | $-12,631 |
| 9 years | $-12,405 |
| 11 years | $-12,180 |
| 13 years | $-11,955 |
| 15 years | $-11,730 |
| 17 years | $-11,505 |
| 19 years | $-11,280 |
| 21 years | $-11,055 |
| 23 years | $-10,829 |
| 25 years | $-10,604 |
Top Solar Installers in Grand Rapids
When switching to solar energy, many homeowners prefer to go with a solar installer since handling can be a time-consuming project. The expertise that solar installers offer can be helpful as well, particularly if you don't quite know what brand of solar equipment would be right for your home.
There are a number of licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
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 $13,413, your final cost may be above or below the average. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to take into consideration.
Solar Equipment
When it comes to estimating the cost of a solar system in Grand Rapids, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy consumption, which you can determine by looking at past electricity bills. Your overall cost can increase by about $2,600 for each additional kilowatt you need. The kind of solar panels and equipment you choose is another factor that will greatly influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to come at a higher price. Moreover, solar equipment goes beyond just the solar panels themselves. You'll also need to make decisions 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 provided by most installers in Grand Rapids, which can bring down, or in some cases eliminate, your upfront costs to make solar more affordable. Even though solar loans make adopting solar energy more accessible for Grand Rapids homeowners, they can also raise 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 installation company you choose will affect your total cost to adopt solar energy. Different companies will charge different amounts for the equipment and labor. Additionally, some companies in Grand Rapids know more about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. 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 | $2.70 | $11,357 | $16,127 | 10.3 years |
| 8 kW | $2.65 | $14,851 | $21,794 | 10.1 years |
| 10 kW | $2.60 | $18,200 | $27,606 | 9.9 years |
| 12 kW | $2.55 | $21,403 | $33,564 | 9.7 years |
| 14 kW | $2.50 | $24,461 | $39,668 | 9.5 years |
| 16 kW | $2.44 | $27,373 | $45,917 | 9.3 years |
| 18 kW | $2.39 | $30,139 | $52,312 | 9.1 years |
| 20 kW | $2.34 | $32,760 | $58,853 | 8.9 years |
How to Save on Solar Panels
The solar installer you go with will be a major factor in determining not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, including:
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and efficiency. They will come at different price points as well. The company you choose impacts which solar panel brands you have access to.
- Installation Process: Homeowners should make sure they understand how exactly the installation process will be carried out, as well as important factors like the project completion timeline.
- Contract: It's important to read your solar installer's contract well to understand what services they will provide, what the warranty covers and what you can expect about your solar system's energy production.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like the EcoWatch team.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Grand Rapids, WI Solar Cost FAQs
How much does it cost to install solar panels in Grand Rapids?
This is a hard question to answer precisely, because the cost depends on many factors. Broadly speaking, it costs about $13,000 for a 5-kW system and $26,000 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have higher-than-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Grand Rapids?
Leasing solar panels can be an option if you are unable to pay upfront or get a solar loan, but since you don't own the system, you can't take advantage of many solar incentives. Also your property value won't increase, so you'll have less savings over time. If you can afford to buy a solar system upfront, then buying is the better option if you want the most savings from going solar.
Can you sell solar power back to the grid in Grand Rapids?
Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states let you sell power back to the grid, but others just give you credit toward your future electricity bills.
How many solar panels should I get to power my home?
The exact number of solar panels you need depends on your household energy usage and the average daily sunlight your roof gets. You can 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 get 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.