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

  • Lyon Solar Installation Cost: $17,556
  • 25-Year Savings: $17,253
  • Payback Period: 17.5 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

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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 Lyon

Find out what the average cost of a solar system is in Lyon.

The average cost of a solar system in Lyon is 4 per watt.To cover the typical energy needs of the average home in Lyon, most homeowners require a 6.2-kilowatt system. Using the per-watt figure above, a solar installation costs about $17,556, or $25,105 before the federal solar tax credit of 0 is applied.

These figures are just averages, and the cost of going solar for you will most likely differ based on your specific situation and what company you choose to go with.Despite the large initial cost, the average Lyon homeowner can save about $15,000 on their electricity bills over 20 years, which is one of the positives of solar.

Click the button below to get connected to a vetted solar installer in Lyon for a customized estimate.

Solar savings over time in Lyon

Year Return on Investment
1 years $-16,163
3 years $-13,379
5 years $-10,594
7 years $-7,809
9 years $-5,025
11 years $-2,240
13 years $545
15 years $3,329
17 years $6,114
19 years $8,899
21 years $11,683
23 years $14,468
25 years $17,253

Top Solar Installers in Lyon

When switching to solar energy, many homeowners prefer to hire a solar installation company since installing solar panels yourself can be a challenging project. Also, companies with a high reputation that are more expensive upfront could actually save you money in the long term with their warranties, repair services and expert design.

If you're searching for a solar company in Lyon, we've put together 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 Lyon

Factors that Affect Solar Panel Costs in Lyon

Cost is typically one of the most important factors for homeowners who are considering investing in solar. There are a few primary factors that will push your cost above or below the average in Lyon: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

The size of the solar panel system you need, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by nearly $4,060. The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to be more expensive. Moreover, solar equipment consists of more than 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 researching a solar system that’s in your budget.

Solar Financing Terms

Most solar installers in Lyon offer solar loans, which reduce your upfront costs of installing solar panels.It’s a good idea to factor 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

A final consideration when trying to evaluate the cost of solar for your home or business in Lyon is the company you get to install your solar system. Similar to choosing a company to install new cabinets, for example, you’ll have no shortage of solar installers that provide a range of services for different budgets.Larger national companies usually have lower costs, but some local companies undercut them by offering sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or additional services like electric car charger installation, they might be cheaper overall.

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 $6,665 18.2 years
8 kW $4.14 $23,191 $9,341 17.8 years
10 kW $4.06 $28,420 $12,245 17.5 years
12 kW $3.98 $33,422 $15,376 17.1 years
14 kW $3.90 $38,196 $18,734 16.8 years
16 kW $3.82 $42,744 $22,320 16.4 years
18 kW $3.74 $47,064 $26,133 16.1 years
20 kW $3.65 $51,156 $30,174 15.7 years

How to Save on Solar Panels

The solar panel company you opt for will influence not only your overall costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should take into account, such as:

  • Warranty: Warranties that provide coverage for panel repairs and maintenance over a couple decades are the best you can get in the business, and offering such a warranty is one sign of a good company.
  • Installation Process: One of the most important things to understand when adopting solar power is the installation process itself. Be sure to align on any details you need to know with your solar company, such as what permits you should secure and what the project timeline is.
  • Solar Panel Brands: Each solar panel brand and kind has varying levels of quality, durability and efficiency. They will come at different costs as well. The company you choose impacts which solar panel brands you have access to.
  • Reputation: Well-established companies likely have a solid reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer service, such as part repairs and replacements.

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 Lyon, MI Solar Cost FAQs

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

This is a difficult question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $20,300 for a 5-kW system and $40,600 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or more efficient panels, or if you have higher-than-average energy usage. On the other hand, 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 Lyon?

Leasing solar panels can be an option if you are unable to pay upfront or secure 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 bang for your buck from going solar.

Can you sell solar power back to the grid in Lyon?

Each state has some kind of net metering programs except Tennessee, South Dakota and Alabama currently. Some states allow you to sell power back to the grid, but others just give you credit toward your future utility bills.

How often do you have to replace solar panels?

Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is their energy production will have decreased significantly after that point. You can choose to replace them after having them for that long or you can keep using them at a lower efficiency.

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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