Cost Of Solar Panels In Michigan

On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65.

Cost of solar panels in michigan.

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. Solar panel cost data michigan 2020 updated. Installing a typical 5 kw solar system should start at about 20 000. That s how big your loan will need to be to cover it.

How much do solar panels cost in michigan. This is 2 66 per watt. Data based on 977 reporting zip codes in michigan. 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 cost in michigan. The electricity you ll save in the first year of operation would have cost 819 but your annual loan payments will be 1 775 meaning you ll spend 956 on solar this year but. Costs vary but are generally lower due to federal and local government incentives. Stats above assume a 32 square meter 345 square foot standard efficiency 15 5 kw system costing 21 000 out of pocket.

The average cost for an installed residential solar system in michigan is currently 11 797 after claiming the 26 federal solar tax credit. You ll also see a huge tax break. As of july 2020 the average solar panel cost in michigan is 3 19 w given a solar panel system size of 5 kilowatts kw an average solar installation in michigan ranges in cost from 13 558 to 18 342 with the average gross price for solar in michigan coming in at 15 950 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net.