Michigan Solar Panels Cost

This is 2 66 per watt.

Michigan solar panels cost.

Solar panels are somewhat recommended in michigan. Based on the price of electricity in michigan an average of 0 15 per kw and very low amounts of sun 13 less than average compared to other states solar power is 8 more cost effective than the rest of the nation. As of september 2020 the average solar panel cost in michigan is 3 17 w given a solar panel system size of 5 kilowatts kw an average solar installation in michigan ranges in cost from 13 472 to 18 228 with the average gross price for solar in michigan coming in at 15 850 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. Michigan homeowners who add solar panels may be able to take advantage of the current 26 federal solar tax credit.

The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228. Michigan is one of the best states in the country if you want to go solar but only if you re rich enough. With michigan solar the panels are on a 25year warranty if one breaks or stops working they replace it no work to you. With over 200 solar power related companies in michigan solar has been one of the few bright spots in an otherwise troubled state economy.

This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. However the federal tax credit allows you to recover 30 of the investment as a tax credit so the net outlay is reduced to 14 000. Additionally some michigan utility companies offer net metering which allows solar customers to receive a 1 to 1 credit for excess energy their solar power systems send back to the grid. As of sep 2020 the average cost of solar panels in michigan is 2 66 per watt making a typical 6000 watt 6 kw solar system 11 797 after claiming the 26 federal solar tax credit now available.

Solar panel installers in michigan. Solar panel cost in michigan. The costs and savings for a 5 kw pv system in michigan can be broken down as follows. The average cost for an installed residential solar system in michigan is currently 11 797 after claiming the 26 federal solar tax credit.

The installed cost of a 5kw solar system is around 20 000. If you don t have much tax you can carry it over to the next year until you use the credit up. Keep in mind you can only deduct in the first or 2nd year based on how much fed. Solar panel cost data michigan 2020 updated.

Installing residential solar panels on your michigan home not only adds value to your property and lowers your monthly energy bills it protects the michigan environment and supports much needed jobs directly in the local economy. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65.