Solar Panel Cost Guide in Ludington, MI (2024 Update)
- Ludington Solar Installation Cost: $16,603
- 25-Year Savings: $23,013
- Payback Period: 12.0 Years
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Average Cost of Solar Panels in Ludington
Let’s have a look at the average cost of solar panels in Ludington.
The national average cost of solar panels is $2.66 per watt, but in Ludington it’s 4 per watt.Using this figure, a typical 5.8-kW system would cost about $16,603 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll end up paying for solar may vary based on your household energy use, the type of solar panels you want to get, your solar contractor and more.Even with the large upfront cost, the average Ludington homeowner can save about $22,000 on their energy bills over 20 years, which is one of the positives of solar.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Ludington
| Year | Return on Investment |
|---|---|
| 1 years | $-15,349 |
| 3 years | $-12,842 |
| 5 years | $-10,334 |
| 7 years | $-7,827 |
| 9 years | $-5,320 |
| 11 years | $-2,812 |
| 13 years | $-305 |
| 15 years | $2,203 |
| 17 years | $4,710 |
| 19 years | $7,217 |
| 21 years | $9,725 |
| 23 years | $12,232 |
| 25 years | $14,740 |
Top Solar Installers in Ludington
Installing solar panels yourself can be a time-consuming project, which is why using a solar installer is a good option for many homeowners. Some solar installers, especially local ones, can help you make the most of incentives in Ludington, optimizing your ROI.
If you're looking for a solar installer in Ludington, we've compiled a list of our top suggestions here:
Best National Provider
SunPower
- 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
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- 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 Ludington
Factors that Affect Solar Panel Costs in Ludington
The cost of installing a solar system in Ludington can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The most significant one is your system size, and other factors include the equipment you choose, financing options and the solar installer you choose.
Solar Equipment
System size, which is measured in kilowatts, is one of the largest factors that influences 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.There are a lot of different solar panel brands and the one you pick also changes the cost. Generally, the brands that offer higher efficiency tend to also be more expensive. In addition, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
Most solar companies in Ludington have solar loans, which reduce the initial cost of installing a solar system.While solar loans make switching to solar energy more accessible for Ludington homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar panel installation company you pick will impact your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices due to their larger brand name and access to bulk prices, or you might see small, local installation companies offering deals or promotions to compete with those major players.
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 | $17,704 | 12.5 years |
| 8 kW | $4.14 | $23,191 | $24,060 | 12.3 years |
| 10 kW | $4.06 | $28,420 | $30,643 | 12.0 years |
| 12 kW | $3.98 | $33,422 | $37,454 | 11.8 years |
| 14 kW | $3.90 | $38,196 | $44,492 | 11.5 years |
| 16 kW | $3.82 | $42,744 | $51,757 | 11.3 years |
| 18 kW | $3.74 | $47,064 | $59,250 | 11.1 years |
| 20 kW | $3.65 | $51,156 | $66,970 | 10.8 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system’s efficiency, production, and durability, it’s important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- Installation Process: Get details from your solar installer about the installation process and what to expect, including when the site survey will be completed and how long it will take.
- Reputation: Your solar installer should have a solid reputation as a company and have demonstrated expertise in the field. A couple of ways to check this are to look for whether a company has technicians certified by the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Solar Panel Brands: Different companies offer various brands and models of panels. If you prefer a specific brand, make sure the solar installer you’re considering has it.
- Contract: Though reading through a contract can be tedious, it’s important to do it thoroughly so you can be sure you understand what services your solar company will provide and the terms of the warranty.
Best National Provider
SunPower
- 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
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- 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 Ludington, MI Solar Cost FAQs
What is the average cost of installing solar panels in Ludington?
The average cost of solar panels in Ludington 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 stuff such as the model of solar panels you want, what size system you need and how much energy you use.
Is cost the most important thing to think about when buying solar panels?
The initial cost is a crucial factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to consider are the quality and durability of your solar panels.
Does Ludington have a net metering program?
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 offer you credit toward your future electricity bills.
How long do solar panels last in Ludington?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a higher 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.