Prices On Solar Panels In Michigan

How long does it take to earn back your initial investment in solar panels.

Prices on solar panels in michigan.

The price of solar per watt has gone from 76 67 to an extremely affordable rate of 0 36. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. The installed cost of a 5kw solar system is around 20 000. 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.

Currently michigan residents pay an average of 0 14 kwh for electricity which is above the national average. A standard 6 kw residential solar system has dropped from 44 000 down to 15 200 over the past decade not including the federal solar tax credit. How much do solar panels cost in michigan. According to the swanson effect as seen in the infographic below cost of energy provided by solar panels in michigan has plummeted.

The average cost of solar panels has fallen 65 from 7 34 per watt in 2010 to 2 53 per watt in 2019. 100 watt 12 volt slim polycrystalline solar panel for rv boat camping off grid windynation s low profile design solar panel windynation s low profile design solar panel is ultra slim coming in at only 0 67 in. If you are thinking of going solar there s never been a better time. Solar panels are somewhat recommended in michigan.

Rising energy costs 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. Solar panel cost data michigan 2020 updated. September 10 2020 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. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228.

In 2020 they also remain subsidized by the 26 federal tax credit and the net metering law making them an excellent investment. Are solar panels worth it in michigan. Based on the price of electricity in michigan an average of 0 15 per kw and very low amounts of sun 13 less than average compared to other states solar power is 8 more cost effective than the rest of the nation. Using a custom designed aluminum frame we were able to achieve a robust streamlined and ultra slim beautiful solar panel.

Solar panels have fallen in price by more than 80 in the last ten years. The costs and savings for a 5 kw pv system in michigan can be broken down as follows. 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.