Solar Panels For Home Michigan

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Solar panels for home michigan.

In michigan the average solar payback period is 10 31 years. This is higher than the average price of residential solar power systems across the united states which is currently 2 60 per watt. 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. Over a decade of providing solar installations in michigan michigan solar solutions mss designs and installs commercial residential municipal non profit and educational solar arrays across the state.

The panels are engineered to capture as much solar energy as possible and use it to generate the energy that powers your home. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. Michigan has a chance to be a great state for home solar power but without net metering it just can t be. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.

Use solar energy to power your home and reduce your dependence on the grid. How long does it take to earn back your initial investment in solar panels. 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. As of september 2020 the average solar panel cost in michigan is 3 17 w 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 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the.

Learn more about your potential savings in our design studio. 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. The main incentive for going solar in michigan is the state s favorable net metering policy which requires utilities to give you full credit for any surplus energy your pv system produces. Michigan is lacking in terms of rebates and tax credits for solar power but the 30 federal tax credit compensates this.

Solar incentives rebates and tax credits available in michigan in 2020 the most significant incentive to install solar panels for homes and businesses is the federal solar tax credit.