Solar Panel Cost Guide in Vevay, MI (2023 Update)
- Vevay Solar Installation Cost: $12,136
- 25-Year Savings: $18,696
- Payback Period: 9.8 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Updated May 04, 2023
Why you can trust EcoWatch
Average Cost of Solar Panels in Vevay
Find out how much it might cost to make the switch to solar in Vevay.
The average cost of solar panels in Vevay is 2.81 per watt. Since a 6.2-kW system is needed to cover the energy consumption of a typical home in Vevay, the average price of going solar will be about $12,136 after claiming the federal solar tax credit of 30%.
These figures are just estimates, and how much solar costs for you will most likely look different based on your energy needs and what company you want to go with. But, after you've paid the upfront cost of installation, the ROI for most homeowners is usually rewarding, with a net average savings of about $19,000 over 20 years on energy bills.
To calculate your potential savings and connect with a local solar expert, click the button below.
Solar savings over time in Vevay
| Year | Return on Investment |
|---|---|
| 1 years | $-10,903 |
| 3 years | $-8,437 |
| 5 years | $-5,970 |
| 7 years | $-3,503 |
| 9 years | $-1,037 |
| 11 years | $1,430 |
| 13 years | $3,896 |
| 15 years | $6,363 |
| 17 years | $8,830 |
| 19 years | $11,296 |
| 21 years | $13,763 |
| 23 years | $16,229 |
| 25 years | $18,696 |
Top Solar Installers in Vevay
When making the switch to solar, many homeowners opt to hire a solar installation company since installing solar panels yourself can be a time-consuming project. Plus, if you aren't sure what brand 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 install solar panels for you. Here are our suggestions:
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 Vevay
Factors that Affect Solar Panel Costs in Vevay
Although the average cost of a solar system in Vevay is $12,136, your actual cost may differ. There are several factors that can have a significant impact on the cost of a solar system installation. Below are some of the more important things to take into consideration.
Solar Equipment
The cost of solar panels varies by thousands of dollars due to some different factors. One of the most significant factors is the system size, which is measured in kilowatts (kW). Solar power systems with higher efficiency or power generation need better technology and/or more equipment, both of which can raise costs. For each additional kilowatt you need, your cost can go up by about $2,810. There are several different solar panel brands and the one you choose also affects the cost. Generally, the brands that are more efficient tend to also be more expensive. In addition, the type of equipment you're looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable route because they decrease your upfront costs and let you pay for your system over five to seven years on average. However, the interest on solar loans also adds to your all-in costs, so it's important to include that in your estimate as well. You can always reduce the total you pay in interest and possibly even your APR by making a larger down payment.
Solar Panel Installation Company
The remaining significant cost factor you should take into consideration is the installer you choose. Given the growing popularity of sustainable energy solutions in Vevay, you'll have many options to choose from, but each comes at various price points for labor and equipment. Companies that only sell products with high efficiency and therefore a higher price point — 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 go with the company that has the products, warranties and services you want and also is within 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 | $2.92 | $12,274 | $17,696 | 10.2 years |
| 8 kW | $2.87 | $16,051 | $23,909 | 10.0 years |
| 10 kW | $2.81 | $19,670 | $30,279 | 9.8 years |
| 12 kW | $2.75 | $23,132 | $36,807 | 9.6 years |
| 14 kW | $2.70 | $26,436 | $43,493 | 9.5 years |
| 16 kW | $2.64 | $29,584 | $50,335 | 9.3 years |
| 18 kW | $2.59 | $32,574 | $57,335 | 9.1 years |
| 20 kW | $2.53 | $35,406 | $64,493 | 8.9 years |
How to Save on Solar Panels
Since the type of solar panels and the installer you choose greatly impacts your costs and your system's durability and efficiency, it's important to select the right ones for you. Here are some things to keep in mind to help with your decision:
- 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 considerable role in the company you choose.
- Warranty: Each company may offer different kinds of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Contract: Although 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.
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar company, such as what permits you should acquire and what the project timeline is.
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 Vevay, MI Solar Cost FAQs
How much does it cost to install solar panels in Vevay?
This is a hard question to answer exactly, because the cost depends on a variety of factors. Broadly speaking, it costs about $14,050 for a 5-kW system and $28,100 for a 10-kW system after the ITC is applied. It will cost more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. Conversely, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Can you get solar panels for free in Vevay?
A solar panel system isn't free in Vevay, but there are some options that can make getting them more feasible, such as leasing solar panels or getting a solar loan. There may also be local programs or incentives that can help lower the cost.
Do solar panels increase your home value?
Solar panels can increase the value of your home remarkably 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% after installing solar panels."
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 uses and how much sunlight your home gets. For a general estimate, however, since each panel can typically produce about 250 to 400 watt-hours per hour, the average household 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.