Solar Panels For Home In Michigan

Because home and business owners want to get the largest incentive amount possible solar panel installation companies will likely be flooded with new projects before year s end.

Solar panels for home in michigan.

This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. Additionally some michigan utility companies offer net metering which allows solar customers to receive a 1 to 1 credit for excess energy their solar power systems send back to the grid. Michigan homeowners who add solar panels may be able to take advantage of the current 26 federal solar tax credit. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.

Solar incentives rebates and tax credits available in michigan in 2020. 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. How long does it take to earn back your initial investment in solar panels. 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.