Solar Panel Cost Guide in Riverview, MI (2023 Update)
- Riverview Solar Installation Cost: $12,028
- 25-Year Savings: $14,605
- Payback Period: 11.3 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated September 15, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Riverview
We go over average solar pricing in Riverview.
While the national average of solar panels is $2.66 per watt, solar panels in Riverview typically cost about 2.81. Using this figure, a typical 6.1-kW system would cost about $12,038 before the 30% federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you'll pay for solar may look quite different based on your household energy consumption, the type of solar panels you choose, your solar contractor and more. Despite the large upfront cost, the average Riverview homeowner can save around $17,000 on their power bills over 20 years, which is one of the advantages of solar.
For a personalized quote from a local solar company that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Riverview
| Year | Return on Investment |
|---|---|
| 1 years | $-10,636 |
| 3 years | $-7,851 |
| 5 years | $-5,067 |
| 7 years | $-2,282 |
| 9 years | $503 |
| 11 years | $3,287 |
| 13 years | $6,072 |
| 15 years | $8,857 |
| 17 years | $11,641 |
| 19 years | $14,426 |
| 21 years | $17,211 |
| 23 years | $19,995 |
| 25 years | $22,780 |
Top Solar Installers in Riverview
When going solar, many homeowners opt to go with a solar installer since DIY solar panel installation can be a difficult project. A solar installer can also help save you money over time by offering warranties, repairs and component replacements.
You can get a free quote from a local solar installer on the cost of solar panels for your home. Here are some nearby:
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 Riverview
Factors that Affect Solar Panel Costs in Riverview
Though the average cost of a solar system in Riverview is $12,038, your final cost may be higher or lower than that. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
When it comes to estimating the price of a solar system in Riverview, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are primarily based on your home's energy usage, which you can determine by looking at past power bills. Your total cost can increase by about $2,810 for each additional kilowatt you need. The solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you get the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, higher efficiency could save you more over time on your power bills. In addition, add-on products, such as solar batteries, can bump up your total well above the Riverview average.
Solar Financing Terms
Many homeowners find the average cost of solar in Riverview to be too steep, even if the investment pays off over time. Thankfully, nearly every solar installer in the area offers financing options. Solar loans greatly decrease upfront costs for most homeowners, but they also lead to paying more over time due to interest. However, the interest on solar loans also increases your total costs, so it's crucial to include that in your estimate as well. You can always reduce the total you pay in interest and in some cases even your APR by making a larger down payment.
Solar Panel Installation Company
The solar company you opt for to handle your switch to renewable energy can have an effect on your total costs. There are about 3 solar installation companies operating in Riverview, and each can charge different amounts for labor and equipment. Additionally, some companies in Riverview have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could end up saving you 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 | $13,858 | 11.7 years |
| 8 kW | $2.87 | $16,051 | $18,792 | 11.5 years |
| 10 kW | $2.81 | $19,670 | $23,883 | 11.3 years |
| 12 kW | $2.75 | $23,132 | $29,132 | 11.1 years |
| 14 kW | $2.70 | $26,436 | $34,538 | 10.8 years |
| 16 kW | $2.64 | $29,584 | $40,102 | 10.6 years |
| 18 kW | $2.59 | $32,574 | $45,823 | 10.4 years |
| 20 kW | $2.53 | $35,406 | $51,701 | 10.2 years |
How to Save on Solar Panels
The company that does your solar panel installation will affect the warranties and brands you have access to, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Contract: Before you sign a contract with a solar installer, make sure you read it through carefully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
- Warranty: If you're worried about the endurance of your solar energy system, ensuring your company offers a 25-year, all-inclusive warranty can help put you at ease.
- Reputation: Solar companies that have great reviews from their customers and that have been operating for many years in most cases provide quality solar panel installation and expertise.
- Solar Panel Brands: Not all solar companies carry the same brands of solar panels, so the brand and type of panel you want can play a significant role in the company you choose.
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 Riverview, MI Solar Cost FAQs
What is the average cost of installing solar panels in Riverview?
The average cost of solar panels in Riverview is about $14,050 for a 5-kW system and $28,100 for a 10-kW system before the ITC, but the real cost will depend on things such as the model of solar panels you want, what size system you need and how much energy you consume.
Are solar panels free in Riverview?
You can't get solar panels for free in Riverview. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you'd prefer to own your solar panels, you can finance them with a solar loan.
Can solar panels eliminate my electricity 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 $871.07 per year.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to buy between 20 and 35 panels to cover their typical energy usage.
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.