Solar Panel Cost Guide in Lenox, MI (2024 Update)

  • Lenox Solar Installation Cost: $17,270
  • 25-Year Savings: $13,167
  • Payback Period: 17.2 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Lenox

See how much it might cost to switch to solar power in Lenox.

In Lenox, solar panels cost about 4 per watt on average.Since a 6.1-kW system is needed to cover the energy needs of a typical home in Lenox, the average price of going solar will be about $17,270 after claiming the federal solar tax credit of 0.

The actual price you pay can go above or below the average in Lenox based on a few factors, such as the kind of solar panels you choose and the solar contractor you hire.With average savings of about $16,000 on power bills over 20 years, many homeowners in Lenox find investing in solar has a decent ROI.

For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.

Solar savings over time in Lenox

Year Return on Investment
1 years $-15,878
3 years $-13,093
5 years $-10,308
7 years $-7,524
9 years $-4,739
11 years $-1,954
13 years $830
15 years $3,615
17 years $6,400
19 years $9,185
21 years $11,969
23 years $14,754
25 years $17,539

Top Solar Installers in Lenox

Although it's possible to install solar panels on your own, it requires extra labor and handiness. That's why almost all homeowners choose a solar panel installer. Solar installers offer key benefits that can help you maximize your investment, like warranties, monitoring and free repairs.

If you're on the hunt for a solar company in Lenox, 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 Lenox

Factors that Affect Solar Panel Costs in Lenox

Cost is often one of the most important factors for homeowners who are considering investing in solar. There are a few major factors that affect your total cost in Lenox: solar equipment and system size, financing options and the solar installation company you choose. We’ll cover each of these briefly below.

Solar Equipment

System size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of going solar. Because of that, it’s a priority to accurately assess the size of the solar energy system needed for your home by figuring out your average energy use.The brand and type of equipment you want for your solar system can increase or decrease the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price 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 will be looking at a higher equipment cost, but this can typically lead to more savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.

Solar Financing Terms

For some homeowners, paying for solar out of pocket can be challenging. Solar loans are provided by most installers in Lenox, which can reduce, or in some cases totally eliminate, your upfront costs to make solar more accessible.You’ll have to consider the long-term cost of financing options, including the total interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars more than the principal cost. Making a larger down payment or getting a solar loan with a low APR could reduce your costs significantly.

Solar Panel Installation Company

A final consideration when trying to figure out the cost of solar for your home or business in Lenox is the company you choose to install your solar panel system. Similar to choosing a company to build a deck or pool, for example, there are plenty of solar installers that offer a range of services at different costs.The company’s size sometimes plays the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower prices due to more resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing lower to compete with bigger names.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $4.22 $17,734 $7,069 17.9 years
8 kW $4.14 $23,191 $9,880 17.5 years
10 kW $4.06 $28,420 $12,918 17.2 years
12 kW $3.98 $33,422 $16,184 16.8 years
14 kW $3.90 $38,196 $19,677 16.5 years
16 kW $3.82 $42,744 $23,397 16.2 years
18 kW $3.74 $47,064 $27,345 15.8 years
20 kW $3.65 $51,156 $31,520 15.5 years

How to Save on Solar Panels

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

  • Warranty: A comprehensive, 25-year warranty can help keep your solar panel system running for years to come and save you money on repairs and maintenance.
  • Installation Process: When going solar, it’s necessary to keep an open line of communication with your solar panel installer. See to it that you understand how the installation process works and the 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 the installation process.
  • Reputation: Solar companies that have great reviews from their customers and that have been in business for many years likely offer good-quality solar panel installation and expertise.

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 Lenox, MI Solar Cost FAQs

What is the average cost of installing solar panels in Lenox?

The average cost of solar panels in Lenox is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you consume.

Is it better to lease or buy solar panels in Lenox?

Leasing solar panels can be an option if you can’t 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 home 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 bang for your buck from going solar.

Does Lenox have a net metering program?

The majority of states offer net metering programs of some kind. Through these, you can be compensated for the extra power your system generates or or receive credits to put toward future utility bills. Currently there are just three states that don’t have any net metering laws: Alabama, Tennessee and South Dakota.

How often do you have to replace solar panels?

On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.

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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