Solar Panel Cost Guide in Riverview, MI (2024 Update)
- Riverview Solar Installation Cost: $17,379
- 25-Year Savings: $14,605
- Payback Period: 16.3 Years
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Average Cost of Solar Panels in Riverview
Find out what the average cost of solar panel installation is in Riverview.
The national average cost of solar panels is $2.66 per watt, but in Riverview it’s 4 per watt.The average solar panel system size in Riverview is around 6.1 kilowatts, meaning a cost of about $17,379 for a solar installation, or $24,852 before the 0 federal solar tax credit is applied.
These figures are only averages, and the cost of going solar for you may look different based on the amount of energy your home requires and what company you go with.Many homeowners find installing a solar system is a sound investment. The average homeowner in Riverview can save around $17,000 on their electricity bills over 20 years.
Click the button below to get connected to a top solar company in your area for a customized estimate.
Solar savings over time in Riverview
| 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 Riverview
DIY solar panel installation is a possibility, but it's an undertaking that can take a lot of hard work. Going with a solar panel installer can make your swap to solar power much easier. Some solar installers, especially local ones, can help you make the most of incentives in Riverview, therefore optimizing your ROI.
If you're on the hunt for a solar company in Riverview, the EcoWatch team has organized a list of our top suggestions here:
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 Riverview
Factors that Affect Solar Panel Costs in Riverview
The cost of installing a solar system in Riverview can vary by more than $10,000 from home to home. Your actual cost depends on several factors. The biggest one is the size of the system you need, and other factors include equipment choices, financing options and the solar installer you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most significant cost factor to consider. For every additional kilowatt you need, your total will most likely increase by nearly $4,060. The type of solar equipment you choose can bring your price up or down by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. On the other hand, more efficient panels could save you more over time on your energy bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Riverview average.
Solar Financing Terms
For some homeowners, paying for solar out of pocket can be difficult. Solar loans are provided by most installers in Riverview, which can bring down, or in some cases completely eliminate, your upfront costs to make solar more accessible.When trying to figure out your overall cost, you should also calculate the interest you’ll pay if you choose to go with a solar loan. Also, paying a higher down payment can reduce the total interest paid over time.
Solar Panel Installation Company
A final factor to keep in mind when trying to estimate the cost of solar for your home or business in Riverview is the company you choose to install your solar system. Similar to choosing a company to build a deck or pool, for example, you’ll have many options for solar installers that provide a range of services for different budgets.The company’s size can sometimes play the most considerable role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because they have access to greater resources and bulk pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
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 | $8,398 | 17.0 years |
| 8 kW | $4.14 | $23,191 | $11,652 | 16.6 years |
| 10 kW | $4.06 | $28,420 | $15,133 | 16.3 years |
| 12 kW | $3.98 | $33,422 | $18,842 | 16.0 years |
| 14 kW | $3.90 | $38,196 | $22,778 | 15.7 years |
| 16 kW | $3.82 | $42,744 | $26,942 | 15.3 years |
| 18 kW | $3.74 | $47,064 | $31,333 | 15.0 years |
| 20 kW | $3.65 | $51,156 | $35,951 | 14.7 years |
How to Save on Solar Panels
There are many solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: Warranties that cover replacement parts and repairs over around 25 years are the gold standard in the business, and offering that kind of warranty is one sign of a quality company.
- Contract: It’s important to look over your solar installer’s contract closely to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
- Solar Panel Brands: Different companies will have various brands and types of panels. If you know you want a specific brand, make sure the solar company you’re considering has it.
- Reputation: Make sure your solar system installer has a good reputation by confirming it has certifications and licenses, checking how long it's been in business and reading reviews by past customers and solar experts like the EcoWatch team.
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 Riverview, MI Solar Cost FAQs
What is the average cost of installing solar panels in Riverview?
This is a tough 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. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you go with a smaller solar panel system or cheaper solar panels.
Can you get solar panels for free in Riverview?
A solar panel system isn’t free in Riverview, but there are some options that can make getting them more affordable, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Is it worth going solar in Riverview?
Whether or not solar panels are worth it depends on a variety of factors like local electricity rates and the amount of direct sunlight your roof gets.
How many solar panels do I need to power my home?
The exact number of solar panels you need depends on your household energy needs and the average daily 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 install between 20 and 35 panels to account for 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.