Solar Panel Cost Guide in South Lyon, MI (2024 Update)
- South Lyon Solar Installation Cost: $17,556
- 25-Year Savings: $12,969
- Payback Period: 17.5 Years
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Updated February 03, 2024
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Average Cost of Solar Panels in South Lyon
Find out what the average cost of a solar system is in South Lyon.
The national average cost of solar panels is $2.66 per watt, but in South Lyon it’s 4 per watt.Using this figure, a typical 6.2-kW system would cost about $17,556 before the 0 federal solar tax credit is applied.
The prices above are just estimates to give you an idea of the cost of solar panels. The true cost of installing solar panels can vary quite a bit based on multiple factors, such as how many panels you need, your energy consumption and what company you go with.With typical savings of about $15,000 on power bills over 20 years, many homeowners in South Lyon find investing in solar has a decent ROI.
To get a free estimate from a pre-vetted solar installer in South Lyon, you can click the button below.
Solar savings over time in South 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 South Lyon
Although you can install solar panels on your own, it requires extra energy and handiness. That's why almost all homeowners choose to go with a solar panel installer. Because solar panels are exposed to temperature swings and extreme weather, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
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 South Lyon
Factors that Affect Solar Panel Costs in South Lyon
For many South Lyon homeowners, the decision to go solar depends on cost. However, the range of solar installation costs can be quite wide in South Lyon, with typical prices between $20,000 to $40,000. There are a few factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that affects the overall cost of going solar. That’s why it’s crucial to accurately ascertain the size of the solar energy system needed for your home by figuring out your average energy use.The brand and kind 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 are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect 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 raise the cost.
Solar Financing Terms
Most solar companies in South Lyon have solar loans, which reduce the initial cost of installing solar panels.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 original cost. Making a larger down payment or finding a solar loan with a low APR could reduce your costs significantly.
Solar Panel Installation Company
Finally, the company you choose to install your solar panel system can play a role in determining the cost. South Lyon’s solar companies all have different labor costs and add varying upcharges to equipment. The company’s size sometimes plays the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower pricing due to greater resources and better 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 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 | $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
Since the type of solar panels and the installer you choose greatly affects your costs and your system’s efficiency, production, and durability, 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 kind has varying levels of quality, longevity and efficiency. They will come at different costs as well. The company you choose has an impact on which solar panel brands you have access to.
- Installation Process: Get details from your solar company about the installation process and what to expect, including when the site survey will be done and what the project timeline is.
- Warranty: A quality company stands out from other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Contract: Review the contract terms closely to make sure you understand the overall cost, project completion timeline incentives and warranties.
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 South Lyon, MI Solar Cost FAQs
What is the average cost of installing solar panels in South Lyon?
The average cost of solar panels in South Lyon 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 consume.
Should I lease or buy solar panels in South Lyon?
Leasing solar panels can be an option if you can’t afford to pay upfront or get a solar loan, but since you don’t own the system, you don’t have access to 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.
Is it worth going solar in South Lyon?
Solar panels can be a fruitful investment for a majority of homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already reasonably low, solar panels might not be for you.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses 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 household 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.