Solar Panel Cost Guide in Davison, MI (2023 Update)
- Davison Solar Installation Cost: $12,263
- 25-Year Savings: $16,252
- Payback Period: 10.8 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Davison
We go over average solar pricing in Davison.
The national average cost of solar panels is $2.66 per watt, but in Davison it's 2.81 per watt. The average Davison homeowner needs a 6.2-kilowatt system, which would cost about $12,254 with the federal tax credit, or $17,523 before the 30% tax credit is applied.
These figures are only averages, and the cost of going solar for you will vary based on factors unique to your home and what company you go with. With average savings of about $17,000 on power bills over 20 years, many homeowners in Davison find going solar has a decent ROI.
Click the button below to get connected to a reputable solar panel company in your area for a personalized quote.
Solar savings over time in Davison
| Year | Return on Investment |
|---|---|
| 1 years | $-12,168 |
| 3 years | $-11,978 |
| 5 years | $-11,787 |
| 7 years | $-11,597 |
| 9 years | $-11,407 |
| 11 years | $-11,217 |
| 13 years | $-11,027 |
| 15 years | $-10,837 |
| 17 years | $-10,647 |
| 19 years | $-10,457 |
| 21 years | $-10,267 |
| 23 years | $-10,077 |
| 25 years | $-9,886 |
Top Solar Installers in Davison
When making the switch to solar, many homeowners prefer to use a solar installer since DIY solar panel installation can be a difficult project. Another benefit of going with a solar installer is that they can help you optimize your investment by bringing down your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
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 Davison
Factors that Affect Solar Panel Costs in Davison
There are a number of factors that can play into your total installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar panels.
Solar Equipment
One of the most important factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to spend about $2,810 per kilowatt in Davison. Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer higher efficiency. In a city like Davison, where sunlight isn't as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar companies in Davison provide solar loans, which reduce the initial cost of installing solar. When estimating your overall cost, you should also calculate the interest you'll pay if you opt for a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar company you select will affect your total cost to make the switch to solar power. Different companies will bill different amounts for the equipment and labor. Additionally, some companies in Davison have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. 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 | $2.92 | $12,274 | $15,169 | 11.2 years |
| 8 kW | $2.87 | $16,051 | $20,540 | 11.0 years |
| 10 kW | $2.81 | $19,670 | $26,069 | 10.8 years |
| 12 kW | $2.75 | $23,132 | $31,754 | 10.5 years |
| 14 kW | $2.70 | $26,436 | $37,598 | 10.3 years |
| 16 kW | $2.64 | $29,584 | $43,598 | 10.1 years |
| 18 kW | $2.59 | $32,574 | $49,756 | 9.9 years |
| 20 kW | $2.53 | $35,406 | $56,071 | 9.7 years |
How to Save on Solar Panels
Since the model of solar panels and the company 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 things to keep in mind to help with your decision:
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Even though reading through a contract can be tedious, it's important to do it fully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
- Solar Panel Brands: Not all solar companies offer the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you hire.
- Reputation: Solar system installers that have great reviews from their customers and that have been operating for many years likely provide quality solar panel installation and expertise.
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 Davison, MI Solar Cost FAQs
What is the average cost of installing solar panels in Davison?
This is a hard question to answer precisely, because the cost depends on a few different factors. Generally speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality 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 efficient solar panels.
Is it better to lease or buy solar panels in Davison?
Leasing solar panels can be an attractive choice, as it usually comes with low or $0 upfront payments. The drawback is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any tax rebates and credits and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Can solar panels completely eradicate my power bills?
Solar panels can potentially eliminate your electricity bills depending on where you're located and the efficiency of your system. Even if it doesn't get rid of them completely, you can save a lot of money on your bills, about $914.77 per year.
How long do solar panels last in Davison?
Though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they stop working completely at that time. What this means is their energy production will have decreased significantly after that point. You can 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.