Solar Panel Options For Homes In Michigan

A solar payback period is the amount of time it takes for property owners who install solar panels to recover their initial investment through electricity savings.

Solar panel options for homes in michigan.

The installed cost of a 5kw solar system is around 20 000. Solar panel cost data michigan 2020 updated. They have a scratch resistant and anti reflective coating to help keep the solar panel in good shape for many years. We are one of the few companies that have a full time service department monitoring our customer s solar arrays via the internet.

The average cost for an installed residential solar system in michigan is currently 11 797 after claiming the 26 federal solar tax credit. This makes a home solar system practical and affordable for many michigan homes. Even with the lack of local incentives every resident of michigan is still eligible for the federal 30 tax credit. Michigan has a chance to be a great state for home solar power but without net metering it just can t be.

Awesome solar incentive programs in michigan michigan saves home energy loan program. 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. Michigan solar solutions mss designs and installs commercial residential municipal non profit and educational solar arrays across the state. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt.

Let s take a look at the different solar panel options available to michigan residents. Maybe the lawmakers in lansing will come to their senses soon and get net metering back as the law of the land but until then we d recommend extreme caution before proceeding with an investment in home solar in michigan. Fortunately there are many financial options available to ensure solar shoppers can afford installations. Comparing michigan solar panel options.

This great mi financing option offers homeowners the chance to upgrade their home s energy efficiency with loans up to 30 000 and with apr s offered as low as 4 99 depending on credit score. This is 2 66 per watt. Solar panel cost in michigan. In michigan the average solar payback period is 10 31 years.

The costs and savings for a 5 kw pv system in michigan can be broken down as follows. These solar panels are high efficiency 12 volt solar panels featuring sturdy aluminum frames and high transparency tempered glass tops.