Cost Of Solar Panels In Michigan

Solar panel cost data michigan 2020 updated.

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 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. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228.

This is 2 66 per watt. That s how big your loan will need to be to cover it. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. After accounting for the 26 federal investment tax credit itc and other state and local solar incentives the net price you ll pay for solar can fall by thousands of dollars.

Data based on 977 reporting zip codes in michigan. Installing a typical 5 kw solar system should start at about 20 000. 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. 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. As of september 2020 the average solar panel cost in michigan is 3 17 w. You ll also see a huge tax break.