Are Solar Panels Worth It In Michigan

Following the national extension of the solar investment tax credit itc through 2021 it has never been a better time to go solar.

Are solar panels worth it in michigan.

Are solar panels worth it in michigan. This awesome credit cuts the cost of your overall solar installation by 26 percent making solar pv a more affordable and appealing energy source than fossil fuels. Is solar worth it in michigan. 91 trees worth every year.

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. The average cost of a solar panel installation in michigan ranges from 13 472 to 18 228. This analysis is for a 5 kw photo voltaic system exposed to the average sunlight conditions of michigan. They re already sold on the environmental benefits the ease of use and plenty of other factors.

Michigan solar tax credits and incentive programs the federal investment tax credit. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. Michigan has a chance to be a great state for home solar power but. Keep in mind the numbers above are based on an average home in michigan.

One of the biggest concerns that potential buyers wonder is whether the residential solar panel cost will pay off in the long run. On a cost per watt w basis a solar panel installation in michigan ranges in price from 2 69 to 3 65. While solar leases and power purchase. However that initial cost has held a lot of people back from taking the.

If you live in an area with high energy rates and a suitable solar rating and can afford the initial investment it s worth installing solar panels in your home while the 26 tax break is in. How are you financing your solar panel system. On top of the green that will stay in your pocket your system will mean green for the environment too. The consensus on michigan solar power rebates and incentives.

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. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands.