Solar Panel Cost Guide in Livonia, MN (2024 Update)
- Livonia Solar Installation Cost: $20,198
- 25-Year Savings: $20,719
- Payback Period: 14.4 Years
See cost of a solar system near you:
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
Average Cost of Solar Panels in Livonia
We break down average solar pricing in Livonia.
Although the national average of solar panels is $2.66 per watt, solar panels in Livonia generally cost about 4.Since a 7.2-kW system is needed to cover the energy costs of a typical home in Livonia, the average price of going solar will be about $20,198 after claiming the federal solar tax credit of 0.
How much you pay can be higher or lower than the average in Livonia based on a few factors, such as the type of solar panels you choose and the solar installer you hire.For most homeowners, the upfront investment in solar power is worth paying. On average you could be looking at about $19,000 in savings on utility bills over 20 years.
For a personalized quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Livonia
| Year | Return on Investment |
|---|---|
| 1 years | $-18,927 |
| 3 years | $-16,385 |
| 5 years | $-13,843 |
| 7 years | $-11,301 |
| 9 years | $-8,759 |
| 11 years | $-6,217 |
| 13 years | $-3,675 |
| 15 years | $-1,133 |
| 17 years | $1,409 |
| 19 years | $3,951 |
| 21 years | $6,493 |
| 23 years | $9,035 |
| 25 years | $11,577 |
Top Solar Installers in Livonia
Many homeowners decide to use a solar installation company since trying to install solar panels on your own can be a labor-intensive endeavor. Some solar companies, particularly local ones, can help you make the most of incentives in Livonia, optimizing your ROI.
If you're looking for a solar company in Livonia, we've organized a list of our top suggestions here:
See all of the solar companies in Livonia
Factors that Affect Solar Panel Costs in Livonia
While the average cost of a solar system in Livonia is $20,198, your actual cost may be higher or lower than that. There are several factors that can have a significant impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the notable factors is the system size, which is measured in kilowatts (kW). Solar power systems that have higher efficiency or power production use 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 $4,030.Some solar brands — like Maxeon from SunPower — cost more upfront but also tend to offer higher efficiency. In a city like Livonia, where sunlight isn’t as abundant, efficiency can quickly pay off. Also, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a big investment. That’s why many Livonia homeowners choose to finance their solar panel systems to make going solar more affordable.You’ll have to consider the long-term cost of financing options, including the amount of interest you’ll pay over the length of the loan. If you’re only able to get a high-interest loan, then your total can be hundreds or even thousands of dollars above the equipment and labor cost. Making a larger down payment or getting a solar loan with a low interest rate could reduce your costs remarkably.
Solar Panel Installation Company
The solar company you choose will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.Some companies 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 with an above-average cost. It’s best to do some research and find a company that offers the products, warranties and services you’re looking for and also fits 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 | $4.19 | $17,603 | $11,688 | 15.0 years |
| 8 kW | $4.11 | $23,019 | $16,035 | 14.7 years |
| 10 kW | $4.03 | $28,210 | $20,608 | 14.4 years |
| 12 kW | $3.95 | $33,175 | $25,406 | 14.2 years |
| 14 kW | $3.87 | $37,914 | $30,431 | 13.9 years |
| 16 kW | $3.79 | $42,428 | $35,681 | 13.6 years |
| 18 kW | $3.71 | $46,716 | $41,156 | 13.3 years |
| 20 kW | $3.63 | $50,778 | $46,858 | 13.0 years |
How to Save on Solar Panels
Since the model of solar panels and the installation company you choose has an impact on your costs and your system’s durability and efficiency, it’s important to pick the right ones for you. Here are some tips to keep in mind to help with your decision:
- Solar Panel Brands: The brand of solar panel you want plays a role in which installer you should choose, since different companies have access to different panels.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what you can expect about the project timeline.
- Warranty: If you care about the durability of your solar energy system, checking if your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Installation Process: Make sure you’re aligned with the company regarding how the installation process will go and what needs to be done before your solar panels are installed, such as updating your electrical system or roof.
EcoWatch's Livonia, MN Solar Cost FAQs
How much does it cost to install solar panels in Livonia?
This is a difficult question to answer precisely, because the cost depends on a variety of factors. Generally speaking, it costs about $20,150 for a 5-kW system and $40,300 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy usage. Conversely, you can spend less if you choose a smaller solar panel system or less efficient solar panels.
What other factors should I consider in addition to cost when buying solar panels?
Cost is definitely one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Can solar panels significantly reduce my energy bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Livonia, that will require at least a 10-kW system. Not all homes can accommodate that size system, so you’ll want to contact a local solar installer to see how many panels can fit on your roof.
How many solar panels should I get to power my home?
To figure out how many solar panels you need, you need to know how much energy your home requires 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.