Solar Panel Cost Guide in Livonia, MI (2024 Update)
- Livonia Solar Installation Cost: $17,379
- 25-Year Savings: $13,091
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Livonia
We break down average solar pricing in Livonia.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Livonia, the average cost of solar panels is 4 per watt.Since a 6.1-kW system is needed to cover the energy usage of a typical home in Livonia, the average price of going solar will be about $17,379 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average energy use of Livonia homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Even with the high initial cost, the average Livonia homeowner can save about $16,000 on their power bills over 20 years, which is one of the advantages of solar.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Livonia
| Year | Return on Investment |
|---|---|
| 1 years | $-15,987 |
| 3 years | $-13,202 |
| 5 years | $-10,417 |
| 7 years | $-7,633 |
| 9 years | $-4,848 |
| 11 years | $-2,063 |
| 13 years | $721 |
| 15 years | $3,506 |
| 17 years | $6,291 |
| 19 years | $9,075 |
| 21 years | $11,860 |
| 23 years | $14,645 |
| 25 years | $17,429 |
Top Solar Installers in Livonia
Many homeowners decide to hire a solar panel installer since figuring out how to install solar panels on your own can be a labor-intensive endeavor. Another upside of utilizing a solar installer is that they can help you make the most of your investment by bringing down your future costs of repairs and replacements due to warranties and helping you learn about local incentives you can take advantage of.
There are several licensed solar professionals that can take care of your solar installation project. Here are our suggestions:
See all of the solar companies in Livonia
Factors that Affect Solar Panel Costs in Livonia
There are several criteria that can determine your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that does the installation.
Solar Equipment
The size of the solar panel system you need for your home, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, your total will most likely increase by about $4,060. The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a 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 greater savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on utility bills over time, but they can also be a big investment. That’s why many Livonia homeowners opt to finance their solar panel systems to make paying for solar more affordable.It’s wise to include the interest you’ll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it’ll take to pay back the loan.
Solar Panel Installation Company
The remaining significant cost factor you should consider is the installer you choose. Given the growing popularity of clean energy solutions in Livonia, you’ll have a great number of options to choose from, but each comes at varying price points for labor and equipment.Larger national companies generally have lower costs, but some local companies keep up with them by promoting sales and discounts. While the smaller companies might not have specific equipment options like Tesla Powerwall batteries or extra services like electric vehicle 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 | $6,913 | 18.0 years |
| 8 kW | $4.14 | $23,191 | $9,672 | 17.6 years |
| 10 kW | $4.06 | $28,420 | $12,658 | 17.3 years |
| 12 kW | $3.98 | $33,422 | $15,872 | 17.0 years |
| 14 kW | $3.90 | $38,196 | $19,313 | 16.6 years |
| 16 kW | $3.82 | $42,744 | $22,981 | 16.3 years |
| 18 kW | $3.74 | $47,064 | $26,877 | 15.9 years |
| 20 kW | $3.65 | $51,156 | $31,000 | 15.6 years |
How to Save on Solar Panels
The solar installer you go with will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, such as:
- Contract: Read the contract terms closely to make sure you understand the cost breakdown, project completion timeline incentives and warranties.
- Reputation: Make sure your solar company has a good reputation by confirming it has certifications and licenses, checking its number of years in business and reading reviews by past customers and solar experts like the EcoWatch team.
- Solar Panel Brands: Different companies will offer various brands and models of panels. If you know you want a specific brand, make sure the solar installer you’re considering has it.
- 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.
EcoWatch's Livonia, MI Solar Cost FAQs
What is the average cost of installing solar panels in Livonia?
The average cost of solar panels in Livonia is about $20,300 for a 5-kW system and $40,600 for a 10-kW system before the ITC, but the real cost will depend on things like the kind of solar panels you want, what size system you need and how much energy you use.
Should I lease or buy solar panels in Livonia?
Leasing solar panels can be an attractive choice, as it commonly 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 incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to maximize your savings.
How will solar panels impact how much my home is worth?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
How often do you have to replace solar panels?
Even 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 how much energy they produce will have decreased significantly after that point. You can opt to replace them once you've had them for that long or you can continue to use 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.