How Much Do Solar Panels Cost In Michigan

The installed cost of a 5kw solar system is around 20 000.

How much do solar panels cost in michigan. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. What range of costs should you expect to see in quotes for a solar panel system. Solar panel costs for an average sized installation in the u s. But the true cost of solar panels and whether they ll help you save money depends on a few key factors.

On average installation and the system together can run between 15 000 and 25 000. 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. The costs and savings for a 5 kw pv system in michigan can be broken down as follows. Solar panel cost in 2020.

Solar power systems are very custom based on the home roof type shading and utility. 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. 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. 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.

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. National data september 2020. 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. How does system size impact the cost of solar.

Average solar panel cost. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228. 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 energy costs 0 08 to 0 10 per kwh to produce on average depending on your location.

How much do solar panels cost in michigan. Installation of panels for the average 5kw system ranges from 11 100 22 400. This is higher than the average price of residential solar power systems across the united states which is currently 2 64 per watt.