Cost Of Solar Panels In Michigan

That s how big your loan will need to be to cover it.

Cost of solar panels in michigan.

Solar panel cost data michigan 2020 updated. Stats above assume a 32 square meter 345 square foot standard efficiency 15 5 kw system costing 21 000 out of pocket. 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. Installing a typical 5 kw solar system should start at about 20 000.

Costs vary but are generally lower due to federal and local government incentives. Solar panel cost in michigan. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228. 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.

As of september 2020 the average solar panel cost in michigan is 3 17 w. 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. Data based on 977 reporting zip codes in michigan. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65.

You ll also see a huge tax break. This is 2 66 per watt. How much do solar panels cost in michigan.