Solar Panel Cost Guide in Rives, MI (2024 Update)
- Rives Solar Installation Cost: $17,403
- 25-Year Savings: $21,643
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Rives
Find out what the average cost of solar panel installation is in Rives.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Rives, the typical cost of solar panels is 4 per watt.The average Rives homeowner needs a 6.1-kilowatt system, which would cost about $17,403 with the federal tax credit, or $24,886 before the 0 tax credit is applied.
The prices above are just estimates to give you an idea of how much a solar energy system could cost. The actual cost of going solar can vary quite a bit based on multiple factors, such as what size system you need, your energy consumption and what company you go with.For most homeowners, the upfront cost of solar is worth paying. On average homeowners in Rives see about $21,000 in savings on utility bills over 20 years.
For a free quote from a local solar installer that has been pre-vetted by the EcoWatch team, click the button below.
Solar savings over time in Rives
| Year | Return on Investment |
|---|---|
| 1 years | $-16,149 |
| 3 years | $-13,642 |
| 5 years | $-11,135 |
| 7 years | $-8,627 |
| 9 years | $-6,120 |
| 11 years | $-3,612 |
| 13 years | $-1,105 |
| 15 years | $1,402 |
| 17 years | $3,910 |
| 19 years | $6,417 |
| 21 years | $8,925 |
| 23 years | $11,432 |
| 25 years | $13,939 |
Top Solar Installers in Rives
Installing solar panels yourself can be a stressful project, which is why using a solar installer is a good option for many homeowners. Plus, if you’re unsure what kind of solar panels and equipment you want, a solar company can help you figure that out after a site survey and consultation.
There are various licensed solar professionals that can help you install your solar panels. 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 Rives
Factors that Affect Solar Panel Costs in Rives
The cost of installing a solar system in Rives can vary by more than $10,000 from home to home. Your actual cost is determined by several factors. The biggest one is the size of the system your home needs, and other factors include the equipment you choose, financing options and the solar company you choose.
Solar Equipment
The size of the solar panel system you need for your household, which is measured in kilowatts, is the most important cost factor to consider. For every additional kilowatt you need, you can expect your total to increase by around $4,060. The brand and kind of equipment you choose for your solar system can increase or decrease the price quite significantly. If you prefer a brand name like Tesla or SunPower, these often have a higher price tag than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have limited roof space or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to more savings over time. Also, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Rives, which can bring down, or in some cases totally eliminate, your upfront costs to make solar more affordable.However, the interest on solar loans also adds to your total costs, so it’s important to consider that as well. You can always lower the total you pay in interest and sometimes even your APR by making a larger down payment.
Solar Panel Installation Company
A final factor to consider when trying to figure out the cost of solar for your home or business in Rives is the company you get to install your PV system. Similar to choosing a company to renovate your kitchen, for instance, there’s no shortage of solar installers that provide a range of services at different costs.Some companies only sell high-quality, high-efficiency and high-price products — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and decide on the company that offers the products, warranties and services you want and also fit into your budget.
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 | $15,275 | 13.4 years |
| 8 kW | $4.14 | $23,191 | $20,821 | 13.2 years |
| 10 kW | $4.06 | $28,420 | $26,594 | 12.9 years |
| 12 kW | $3.98 | $33,422 | $32,595 | 12.7 years |
| 14 kW | $3.90 | $38,196 | $38,824 | 12.4 years |
| 16 kW | $3.82 | $42,744 | $45,279 | 12.1 years |
| 18 kW | $3.74 | $47,064 | $51,962 | 11.9 years |
| 20 kW | $3.65 | $51,156 | $58,873 | 11.6 years |
How to Save on Solar Panels
The company that does your system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since picking a company can be a tough decision, we have some tips to help you, such as:
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its number of years in business and reading reviews by previous customers and solar experts like EcoWatch.
- Warranty: Warranties that cover defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering such a warranty is one mark of a quality company.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Contract: Although reading through a contract can be tedious, it’s important to do it carefully so you can make sure you understand what services your solar company will provide and the terms of the warranty.
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 Rives, MI Solar Cost FAQs
How much does it cost to install solar panels in Rives?
The average cost of solar panels in Rives 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 things such as the model of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important factors you should consider when buying solar panels, but other important factors include efficiency, durability, and quality.
Is going solar worth it?
Solar panels can be a beneficial investment for most homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your electricity bills are already pretty low, solar panels might not be for you.
What solar power system size is right for my home?
To figure out what solar panel system size you need, you should find out how much energy your home requires and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average home 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.