How Much Do Solar Panels Cost In Michigan

This is higher than the average price of residential solar power systems across the united states which is currently 2 64 per watt.

How much do solar panels cost in michigan.

Solar panel cost in 2020. Solar energy costs 0 08 to 0 10 per kwh to produce on average depending on your location. Solar panels cost 1 77 to 2 20 per watt and a 6 kw solar panel installation for the average home costs from 10 626 to 13 230 after the 30 federal solar tax credit. 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.

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. Solar panels are a worthwhile expense in michigan already but they re likely to gain even more value over time as the cost of traditional energy sources continue to increase throughout the state. How does system size impact the cost of solar. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.

Solar power systems are very custom based on the home roof type shading and utility. The costs and savings for a 5 kw pv system in michigan can be broken down as follows. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. Installation of panels for the average 5kw system ranges from 11 100 22 400.

Average solar panel cost. On average installation and the system together can run between 15 000 and 25 000. The installed cost of a 5kw solar system is around 20 000. Get free estimates from solar installers near you or view our cost guide below.

National data september 2020. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228. How much do solar panels cost in michigan. The most recent official data from the doe funded lawrence berkeley labs published in september 2019 found that the median cost of residential solar panels is 3 70 watt.

Usually range from 11 144 to 14 696 after solar tax credits and the average price per watt for solar panels ranges from 2 51 to 3 31. Solar panel costs for an average sized installation in the u s. Currently michigan residents pay an average of 0 14 kwh for electricity which is above the national average.