Solar Panel Cost Guide in Livonia, MN (2023 Update)
- Livonia Solar Installation Cost: $14,234
- 25-Year Savings: $20,719
- Payback Period: 10.2 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Livonia
See how much it might cost to switch to solar power in Livonia.
The national average cost of solar panels is $2.66 per watt, but in Livonia it's 2.84 per watt. To account for the typical energy usage of the average home in Livonia, most homeowners require a 7.2-kilowatt system. Using the per-watt figure above, a solar installation costs around $14,234, or $20,355 before the federal solar tax credit of 30% is applied.
The prices above are just estimates to give you an idea of the cost of a solar energy system. The exact cost of installing solar panels can vary depending on several factors, such as what size system you need, your energy usage and what installation company you go with. For many homeowners, the upfront investment in solar power is worth paying. On average homeowners in Livonia see about $19,000 in savings on energy bills over 20 years.
To calculate your potential ROI and connect with a local solar company, click the button below.
Solar savings over time in Livonia
| Year | Return on Investment |
|---|---|
| 1 years | $-12,836 |
| 3 years | $-10,040 |
| 5 years | $-7,243 |
| 7 years | $-4,447 |
| 9 years | $-1,651 |
| 11 years | $1,145 |
| 13 years | $3,942 |
| 15 years | $6,738 |
| 17 years | $9,534 |
| 19 years | $12,331 |
| 21 years | $15,127 |
| 23 years | $17,923 |
| 25 years | $20,719 |
Top Solar Installers in Livonia
When going solar, many homeowners opt to use a solar installation company since putting up solar panels yourself can be a difficult project. Plus, if you're unsure what brand of solar panels and equipment you want, a solar company can help you find the right equipment for you after a site survey and consultation.
There are several licensed solar professionals that can help you install your solar system. Here are our suggestions:
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Livonia
Factors that Affect Solar Panel Costs in Livonia
Though the average cost of a solar system in Livonia is $14,234, your final cost may be higher or lower than that. There are several factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more important things to consider.
Solar Equipment
When it comes to estimating the price of a solar panel system in Livonia, one of the most important factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are largely based on your home's energy usage, which you can gauge by looking at past power bills. Your overall cost can increase by about $2,840 for each additional kilowatt you need. The kind of solar equipment you choose can increase or decrease your cost 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 in the long run on your power bills. Additionally, extra products, like solar batteries, can bring your total well above the Livonia average.
Solar Financing Terms
If paying for solar panels out of pocket is difficult, solar loans are a popular choice because they lower your upfront costs and let you pay for your system over five to seven years on average. It's a good idea to include the interest you'll pay in your final cost estimate. If you can afford to put more money down upfront, you can reduce your total costs and how long it'll take to pay off the loan.
Solar Panel Installation Company
A final consideration when trying to estimate the cost of solar for your home or business in Livonia is the company you hire to install your PV system. As with choosing a company to install new cabinets, for example, there's no shortage of solar installers that offer a range of services for different budgets. Additionally, some companies in Livonia know more about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save 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 | $2.95 | $12,405 | $16,886 | 10.6 years |
| 8 kW | $2.90 | $16,222 | $22,832 | 10.4 years |
| 10 kW | $2.84 | $19,880 | $28,938 | 10.2 years |
| 12 kW | $2.78 | $23,379 | $35,203 | 10.0 years |
| 14 kW | $2.73 | $26,719 | $41,626 | 9.8 years |
| 16 kW | $2.67 | $29,900 | $48,209 | 9.6 years |
| 18 kW | $2.61 | $32,921 | $54,951 | 9.4 years |
| 20 kW | $2.56 | $35,784 | $61,852 | 9.2 years |
How to Save on Solar Panels
There are many companies to choose from in Livonia, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Contract: Although reading through a contract can take a lot of time, it's important to do it carefully so you can be sure you understand what services your solar company will provide and how part repairs and replacements will be handled.
- Reputation: Make sure your solar system installer has a good reputation by verifying it has certifications and licenses, checking its work history and reading reviews by past customers and solar experts like the EcoWatch team.
- Warranty: Companies typically offer different types of warranties that provide different kinds of coverage. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which type of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Livonia, MN Solar Cost FAQs
What is the average cost of installing solar panels in Livonia?
The average cost of solar panels in Livonia is about $14,200 for a 5-kW system and $28,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
What other factors should I consider in addition to cost when buying solar panels?
Cost is without a doubt one of the most important things to bear in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your property value?
Buying or financing solar panels for your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Livonia is currently $239,908, which means you could be looking at a value of about $9,836 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Livonia is a rewarding investment.
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.