Is It Worth Having Solar Panels In Michigan

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.

Is it worth having solar panels in michigan.

How are you financing your solar panel system. Solar is a good thing but it s complex and people really need to understand what they re getting into explore whether your state offers its own tax incentives. In january 2019 the shiawassee county planning commission approved the largest proposed solar farm in michigan that is projected to generate up to 239 mw of solar power or enough to. Solar panels do require a higher investment up front than non renewable energy sources.

Solar panels have an expected life span of about 25 years. While solar leases and power purchase. Rebates low interest loans and grants may also be available. Cost savings over time.

With michigan solar the panels are on a 25year warranty if one breaks or stops working they replace it no work to you. Michigan residents will usually generate the most power in july. This analysis is for a 5 kw photo voltaic system exposed to the average sunlight conditions of michigan. How old is your roof.

Keep in mind you can only deduct in the first or 2nd year based on how much fed. Here are some of the top reasons why it is worth it to invest in solar panels in michigan. Americans are investing in solar power installing enough systems to power 12 3 million homes in 2018 according to the solar energy industries association a trade group. In fact it s estimated that solar power is 8 percent more cost effective in michigan than it is in the rest of the country.

No local installers or providers available. But whether or not those solar panels pay off depends on a lot of factors from the cost of electricity in your area to the shape of your roof. 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. Solar panel installers in michigan.

Although there are sunnier states than michigan the average electricity price is around 0 14 kwh which is above the national average. If you don t have much tax you can carry it over to the next year until you use the credit up. Solar panels are no doubt an excellent invention of the century and have provided many ease. A breakdown of average solar power and savings per month is below.

A 5kw system will save someone in michigan about 93 68 on an average month. Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. This makes solar power a sound investment because every unit of energy produced is worth more than the average price of electricity in the us.