Solar Panels Cost 5.3k-16k in Cadillac, MI | October, 2024

Solar Panels Cost $5.3k-$16k in Cadillac, MI | October, 2024

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How much do solar panels cost in Cadillac, MI in 2024?

Getting solar panels installed in October, 2024 in Cadillac, MI averages out to $3.85/W.

This means that, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,850 to get your system installed in . After receiving the 30% federal tax credit, you can expect to pay about $13,475 for a 5 kW system in Cadillac. Remember, a more extensive system might be essential to adequately cover your energy consumption effectively.

To your left, you have the option to choose your county and determine the average roof size along with the average maximum capacity for solar panel installations on homes in your area. Shown below is an outline of the price, payback period, and 20-year average savings for a 5 kW system installed in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Cadillac: $13,475US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Cadillac: 10 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Cadillac: $8,789US Average: $15,784

Solar Potential in Cadillac

Estimated system size and solar electricity production per median viable roof in
Cadillac.

Roof size 644sq. ft.
Capacity 9kW DC
Electricity 9.7kkWh AC per yr.

Electricity Costs in Cadillac, MI & What that Means for Your Solar Panel Pricing

For Cadillac energy consumers, the typical electric bill is $116.83 per month, with a usage of 619 kWh. These statistics also covers the energy consumption patterns of smaller residences, such as apartments.

For October 2024, Cadillac, MI's average electricity rate is 18.86¢ per kWh.

To fully meet the energy needs of an average user in Cadillac, a solar panel system of 6 kW or larger is a must. You'll spend $16,170 on a 6 kW solar panel system after taking the 30% federal income tax credit into consideration.

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Average solar panel costs by system size in Cadillac

On the left side, you'll see a detailed price breakdown of the various sizes of solar panel systems installed in Cadillac. Even though a bigger solar installation carries a greater cost, it also offers greater electricity savings and more substantial income tax credits.

The calculator down and to the right offers a detailed summary of solar panel costs and benefits, based on an average electric bill of $116.83 in Cadillac. Just change the $116.83 to your regular electricity bill for customized results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $519 a year
Est. Price
$5,390
Savings from a 2kWthis system
  • Est. yearly production 2,734 kWh
  • Est. monthly savings $43
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 7.17 tons a year
  • Equivalent to planting 329 trees a year
  • Equivalent to driving 17,736 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $779 a year
Est. Price
$8,085
Savings from a 3kWthis system
  • Est. yearly production 4,101 kWh
  • Est. monthly savings $65
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 10.75 tons a year
  • Equivalent to planting 494 trees a year
  • Equivalent to driving 26,605 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,039 a year
Est. Price
$10,780
Savings from a 4kWthis system
  • Est. yearly production 5,468 kWh
  • Est. monthly savings $87
  • Full payback in 8 years
Environmental Impacts
  • Reduces CO2 emissions by 14.33 tons a year
  • Equivalent to planting 658 trees a year
  • Equivalent to driving 35,473 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,299 a year
Est. Price
$13,475
Savings from a 5kWthis system
  • Est. yearly production 6,835 kWh
  • Est. monthly savings $108
  • Full payback in 10 years
Environmental Impacts
  • Reduces CO2 emissions by 17.91 tons a year
  • Equivalent to planting 823 trees a year
  • Equivalent to driving 44,341 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,558 a year
Est. Price
$16,170
Savings from a 6kWthis system
  • Est. yearly production 8,202 kWh
  • Est. monthly savings $117
  • Full payback in 12 years
Environmental Impacts
  • Reduces CO2 emissions by 19.37 tons a year
  • Equivalent to planting 890 trees a year
  • Equivalent to driving 47,940 mi less a year

Cadillac Solar Panel Installation Incentives & Rebates | 2024

The REAP Grant can potentially cover between 80% and 100% of the installation costs for solar or wind turbines for rural small businesses and farmlands. Not sure if you qualify? Use our REAP Grant eligibility tool to verify.

The federal government offers a 30% tax credit for residential solar systems, which makes solar appealing and sensible for a wide range of homeowners. A variety of state and local programs are in place to support the use of solar energy.

Residents of Michigan can access 14 solar rebate and incentive programs from a variety of utilities and governmental bodies.

Michigan Saves - Home Energy Loan Program

Value:Up to $30,000

Single-family homes or multifamily properties up to four units may be eligible for special financing on energy efficiency improvements through the Michigan Saves Home Energy Loan Program (HELP). Eligible projects range from energy efficient lighting to new residential solar photovoltaic systems (up to 20 kW). Available principal for a HELP loan ranges from $1,000 to $30,000. Repayment plans range from 12 - 120 months. Interest rates will vary but typically range from 4.25 - 6.99%. To apply, proof of property ownership and standard credit checks are required. Applicants should have a minimum FICO credit score of 640, and a maximum debt to income ratio of 1:2. Additional information is available from the Michigan Saves website.

Michigan Saves - Business Energy Financing

Value:Up to $1,000,000

Small businesses, nonprofits, and owners of multifamily or public-sector buildings in Michigan may be eligible for special financing on energy efficiency improvements through the Michigan Saves Business Energy Financing Program (BEFP). BEFP loans carry special interest rates and repayment terms. Eligible projects range from energy efficient lighting to new solar, wind, or geothermal energy devices. Interested property owners may consult the Michigan Saves website for additional information and to download a pre-approval checklist. The website also contains a directory of lending partners that service BEFP loans.

Interconnection Standards

Value:Varies

Distributed generation and interconnection have been standardized by the Michigan Public Service Commission since 2003. Each energy system connected to the state grid will be assigned into one of five "categories" based on rated capacity. Systems at each level must follow recognized standards such as those set by IEEE or UL. Interconnection fees and application review turnaround will depend on the system's level. Customers must carry at least $1 million of liability insurance coverage on energy systems between 1 to 5 MW by law. Though external disconnect switches are not required centrally, utilities may request that they be installed prior to interconnection. After successful connection, customers will own any renewable energy credits they generate and may sell them to the utility at their discretion.

Renewable Energy Standard

Value:Varies

Michigan requires private/municipal utilities and electric retailers/cooperatives to submit Renewable Energy Plans detailing their compliance with the state's portfolio standards. By 2021, 15% of each company's electricity should be sourced from renewable means. Eligible technologies include solar PV, wind, biomass, solid waste, and currently-operational hydroelectric systems (new hydro does not count toward the standard). Compliance is measured through a renewable energy credit system pegging electrical capacity to a dollar value. The standard law includes "bonus credit" provisions which a utility may earn for exceeding their standard quota or using an in-demand renewable technology. Additional information is available from the Michigan state website.

Refundable Payroll Tax Credit

Value:Varies

The NextEnergy Zone is located on the Wayne State University Detroit campus. The area is a Renaissance Zone, allowing renewable energy companies and institutions who locate inside to receive certain tax incentives. Incentives specific to the NextEnergy Zone include indirect payroll tax credits for a company's employees, provided they work directly with renewable energy manufacturing or R&D. Credit amount is equal to an employee's salary times their state income tax rate as a percentage. Should credit exceed liability, a refund will be issued for the remainder of the credit amount. Additional information is available through the NextEnergy Authority website.

Low-Income and Energy Efficiency Fund (LIEEF)

Value:Varies

The Low Income and Energy Efficiency Fund (LIEEF) is a public benefits fund in Michigan. LIEEF is supported by the state's three largest power companies through monthly consumer surcharges. Rather than supporting incentive or rebate programs, LIEEF funding supports request-for-proposal programs and grant initiatives to support low-income Michiganders in adopting on-site renewable energy or making other energy efficiency improvements. Additional information is available from the Michigan Public Service Commission, which administers the fund.

Michigan Accelerating Technologies (MATch) Energy Grant

Value:Varies

Michigan Accelerating Technology (MAT) is a grant program managed by the state's NextEnergy authority. Through MAT, businesses and educational institutions that receive federal grants supporting energy sustainability or alternative transportation research may be eligible to have their awards matched at the state level. Grant recipients may be eligible to contract some services to the NextEnergy Authority (for example, statistical analysis and supply chain research.) Additional information is available from the NextEnergy website.

Energy Efficiency in State Buildings

Value:Varies

Michigan first established a mandatory renewable portfolio standard in 2008. The standard required at least 25% of the state's energy to be sourced from renewable means by 2015. The standard was part of a larger restructuring law which also established green construction standards for new state buildings, energy efficiency "best practices" for existing buildings, and a new agency to regulate wind power in the state. Additional information is available from the federal Energy Codes database.

Net Metering

Value:Varies

Private/municipal utilities and electric cooperatives in Michigan are required to offer "inflow-outflow" tariff program participation to new renewable energy and distributed generation customers. This program serves as the successor to traditional net metering, which is expected to be phased out in full by 2028. Under an inflow-outflow contract, customers are technically billed for all electricity they generate, including excess generation (EG) sent to the grid. Rather than paying for all generated energy, however, they will only owe the cost of their "nettable energy" in that cycle. Nettable energy is equal to total power generated at the standard billed cost minus EG at a different "credit rate." As with net metering, should generation exceed consumption, any remaining bill credits will be applied to subsequent cycles. Additional information is available from the Michigan state website.

Alternative-Energy Personal Property Tax Exemption

Value:Varies

The NextEnergy Zone is located on the Wayne State University Detroit campus. The area is a Renaissance Zone, allowing renewable energy companies and institutions who locate inside to receive certain tax incentives. Incentives specific to the NextEnergy Zone include property tax exemptions on renewable energy systems, alternative vehicles, and corporate belongings. Eligible property must be completely new to Michigan; real estate does not qualify for exemptions. Additional information is available through the NextEnergy Authority website.

Solar Contractor Licensing

Value:Varies

Special licenses are available for installation/repair contractors of solar thermal systems in Michigan. Certified HVAC contractors do not need a separate license to install solar devices. To obtain a solar thermal license, applicants should have three years of experience as a journeyman and pass an exam. A trade school diploma counts as one year of experience. There is currently no special licensure for solar photovoltaic contractors. Solar contractors of any specialty may need to subcontract certain plumbing or electrical work. Additional information is available through the Interstate Renewable Energy Council.

Lean and Green Michigan PACE

Value:Varies

Lean and Green Michigan is a statewide property-assessed clean energy (PACE) program that offers special financing for energy efficiency improvements and equipment. Multi-family residential and commercial property owners alike may consult with PACE representatives to design a competitive loan with a private lending partner. Effectively, funding comes from the government; repayment will therefore take the form of a tax lien senior to the property's mortgage. Single-family homes are ineligible for PACE funding due to regulatory concerns from the FHFA. Fannie Mae and Freddie Mac cannot take ownership of a mortgage with an active PACE lien. Interested property owners should visit the Lean and Green Michigan website.

Renewable Energy Program Grants

Value:Varies

Funding for renewable energy grants and initiatives may be provided by the Michigan Energy Office. Grants support educational programs for local governments and businesses on renewable energy adoption. Communities may obtain personalized feasibility studies or examine prototype equipment. Additional information is available from the Michigan Agency for Energy website.

Renewable Energy Renaissance Zones

Value:Varies

"Renaissance Zones" are clearly designated locations in Michigan in which renewable energy developers may qualify for special tax incentives. Qualifying facilities will earn a 15-year property tax abatement and are exempt from state corporate, education, and income taxes, along with some local taxes. Eligible construction includes new solar, wind, or biomass facilities. Capital construction for institutions researching or manufacturing renewable energy products may also qualify for exemptions. Applications for Renaissance Zone incentives will consider potential economic impact. Additional information is available from the Michigan Economic Development Corporation website.

Are solar panels worth it in Michigan?

If you expect to own your residence longer than the solar system's payback period, solar panels are a good investment in Cadillac. A 5 kW solar system in Cadillac, MI could potentially save you $14,564.2 over the course of 20 years, with the break even point typically at 10 years.

The cost of not having solar panels in Cadillac, MI

Besides missing out on the savings highlighted earlier, not installing solar panels or an alternative backup energy source results in you being fully reliant on your electric utility for electricity. As illustrated by recent news stories, complete dependence on your utility company isn't always the best scenario.

On average, there are 1.21 outages per customer each year in Cadillac. Each outage, on average, lasts for 191.67 minutes. In the case of major events like landslides, vandalism, or grid management errors, this period can rise substantially.

Owning a solar panel system, irrespective of a backup battery, could reduce the strain of any future outages you may encounter.

Power Outages

Currently, 0 customers are being tracked in Wexford County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Cadillac, MI?

Your Energy Needs - With larger solar panel systems, the cost per watt decreases, despite the higher upfront expense. It is often useful for consumers to install a solar system that can generate enough electricity to fully cover their electric bill, which results in substantial savings.

Make & Model - Just like many products, solar panels are available in a range of makes and models. The system preferences of your chosen installer can make it crucial to select a recommended installer. Opting for better quality makes and models can yield a significantly improved long-term experience for the buyer.

Solar Panel Type - It's easy to see why monocrystalline panels are now the preferred option in the industry. These panels cost more but produce a higher energy efficiency. Many installers in the industry use panels crafted of this material.

Your Property - Uneven ground, trees, or other barriers can increase the difficulty of the installation. Solar installers today typically use satellite imagery to evaluate your home and include these factors into the first cost estimate.

Labor Rates - Companies provide different pay rates to their employees, which are then reflected in the prices consumers pay. It is common for businesses that offer higher wages to get better reviews for their services and customer service.

Permitting & Interconnection - Installation costs will be impacted by regularly changing local permitting and utility interconnection fees, depending on the region. Good installers will factor these costs into your preliminary quotes to prevent unexpected expenses.

See what solar panels cost in other MI cities

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Who are the best solar installers in Cadillac?

YellowLite

Cleveland, OH(877) 743-8757

Services

  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Reparation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Solar systems for selling electricity back to the grid.
  • Installation of solar arrays.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.

Dividend Finance

San Francisco, CA(415) 805-7000

Services

  • Installation of batteries for energy storage.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Reparation of solar arrays.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Monitoring of independent energy generation.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

  • Expertise in consulting on advantageous financing for solar.
  • Solar systems for selling electricity back to the grid.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Harvest Solar

Jackson, MI(888) 907-6527

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Consulting on all things solar related.

Sunnova Energy

Houston, TX(866) 786-6682

Services

  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.

GRNE Solar

Palatine, IL(312) 859-3417

Services

  • Consulting on all things solar related.
  • Expertise in consulting on advantageous financing for solar.
  • Installation of batteries for energy storage.
  • Installation of solar arrays.

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

  • Expertise in consulting on advantageous financing for solar.
  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.

Altenergy

Charlottesville, VA(434) 293-3763

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Consulting on all things solar related.
  • Installation of solar arrays.
  • Expertise in consulting on advantageous financing for solar.

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

  • Installation of solar arrays.
  • Installation of batteries for energy storage.
  • Solar systems for selling electricity back to the grid.
  • Expertise in consulting on advantageous financing for solar.

Cinci Home Solar

Cincinnati, OH(513) 616-6044

Services

  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Consulting on all things solar related.

Cadillac, MI Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Cadillac, MI is $3.85/W. For a 5 kW solar panel system, the total cost in Cadillac, MI after federal tax credits is around $13,475.

  • Utilities and government agencies in Michigan are currently offering 14 different rebates and incentives. On top of that, most individuals are eligible for the 30% federal income tax credit.

  • Paying cash will ensure the most savings, but these days there are multiple options for financing solar panels that are financially sensible as well. Your preliminary quotes will usually detail financing options available through installers.

  • Yes, the typical duration for 5 kW solar panel systems to pay back their cost in Cadillac, MI is 10 years, with electricity savings estimated at $14,564.2 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01