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

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

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

To get solar panels installed in Hamtramck, MI is approximately $3.83 per watt in the month of October, 2024.

According to this rate per watt, we can come to the conclusion that for every 1 kW (1000 watts) your system can generate you will have to invest $3,830 to have your solar system installed. In Hamtramck, you will pay approximately $13,405 for a 5 kW panel install after deducting the 30% federal income tax credit. Your energy needs may require a bigger system.

Choose your county from the menu on the left to view the typical roof size and maximum solar panel capacity for homes in your area. Displayed below is a summary of the costs, 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.
Hamtramck: $13,405US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Hamtramck: 9 yearsUS Average: 7 years
Average Net 20-year savings The total amount of money saved over 20 years minus the out-of-pocket cost.
Hamtramck: $9,763US Average: $15,784

Solar Potential in Hamtramck

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

Roof size 447sq. ft.
Capacity 6.25kW DC
Electricity 7kkWh AC per yr.

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

The average monthly electric bill for a Hamtramck energy consumer is $120.47, based on an typical usage of 599 kWh. Compact dwellings, such as townhouses and duplexes, are also encompassed in the figures noted in the prior sentence.

In October 2024, the average electricity rate in Hamtramck, MI is 20.1¢ per kWh.

In Hamtramck, the typical energy consumer must have a solar power setup of 6 kW or more to satisfy their full electricity needs. Currently, a 6 kW solar panel installation costs around $16,086 after incentives.

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Average solar panel costs by system size in Hamtramck

To the left side and below, you will see the cost summary for multiple sizes of solar panel systems set up in Hamtramck. More extensive solar installations carry a higher price, yet they also provide increased electricity savings and more generous income tax credits.

Refer to the solar panel cost calculator to the right and below to see the cost and benefit details based on an average $120.47 electric bill in Hamtramck. To get results more personalized, change the $120.47 to reflect your average electricity bill.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $547 a year
Est. Price
$5,362
Savings from a 2kWthis system
  • Est. yearly production 2,734 kWh
  • Est. monthly savings $46
  • Full payback in 4 years
Environmental Impacts
  • Reduces CO2 emissions by 1.57 tons a year
  • Equivalent to planting 72 trees a year
  • Equivalent to driving 3,885 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $820 a year
Est. Price
$8,043
Savings from a 3kWthis system
  • Est. yearly production 4,101 kWh
  • Est. monthly savings $68
  • Full payback in 6 years
Environmental Impacts
  • Reduces CO2 emissions by 2.35 tons a year
  • Equivalent to planting 108 trees a year
  • Equivalent to driving 5,828 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,094 a year
Est. Price
$10,724
Savings from a 4kWthis system
  • Est. yearly production 5,468 kWh
  • Est. monthly savings $91
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 3.14 tons a year
  • Equivalent to planting 144 trees a year
  • Equivalent to driving 7,771 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,367 a year
Est. Price
$13,405
Savings from a 5kWthis system
  • Est. yearly production 6,835 kWh
  • Est. monthly savings $114
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 3.92 tons a year
  • Equivalent to planting 180 trees a year
  • Equivalent to driving 9,713 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,640 a year
Est. Price
$16,086
Savings from a 6kWthis system
  • Est. yearly production 8,202 kWh
  • Est. monthly savings $120
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 4.13 tons a year
  • Equivalent to planting 190 trees a year
  • Equivalent to driving 10,232 mi less a year

Hamtramck Solar Panel Installation Incentives & Rebates | 2024

For rural small businesses and farms, the REAP Grant could provide funding that covers between 80% and 100% of the necessary expenses for installing renewable energy systems. Believe you fit this category? Confirm your qualification with our REAP Grant eligibility tool.

For residential solar projects, nearly all people are eligible for the 30% federal income tax credit, which makes solar a sensible solution in many parts of the country. Alongside federal efforts, state and local programs help to support the use of solar power.

Residents of Michigan can access 14 solar rebate and incentive programs from a number 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?

Homeowners in Hamtramck who expect to live in their residence beyond the payback period of their solar system will find solar panels an clear choice. If you install a 5 kW solar system in Hamtramck, MI, you might save $15,507.8 over 20 years on average, with a break even point at roughly 9 years.

The cost of not having solar panels in Hamtramck, MI

Apart from missing out on the savings highlighted above, the absence of solar panels or an alternative backup energy solution leads to total dependency on your electric utility for power. Complete dependence on your utility isn't always the best idea, as numerous recent news reports have illustrated.

Yearly, customers in Hamtramck have experienced approximately 0.98 utility outages.Each year, customers in Hamtramck have experienced approximately 0.98 utility outages. On average, an outage lasts 146.15 minutes. When major events such as wildlife damage, grid management errors or landslides occur, these durations can increase significantly

A solar panel system could lessen the burden of future outages, even if it lacks a backup battery.

Power Outages

Currently, 0 customers are being tracked in Wayne County.

Learn more

Customers Out:

0

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

Your Energy Needs - Even if the initial expense is larger, the price per watt declines with larger solar panel systems. Consumers often realize that setting up a solar system to fully cover their electric bill is a good move, resulting in the most savings.

Make & Model - Like other items, solar panels are available in a range of makes and models. The potential system preferences of your selected installer make it crucial to pick a highly rated company. For consumers seeking a superior long-term experience, opting for better quality equipment is essential.

Solar Panel Type - For many good reasons, monocrystalline panels are now the industry standard. Although they are costlier, they generate increased energy. The majority of installers utilize panels made of this material.

Your Property - Every home and property differs in its own way. Challenges like sloping terrain, trees, or additional hindrances can increase the difficulty of installing solar panels. Using satellite imagery, solar installers can today assess your home and integrate these elements into the first cost estimate.

Labor Rates - The pay employees get from their employers vary, and these expenses are passed on to the consumers. Businesses paying more to their employees frequently get higher reviews for their work and customer service.

Permitting & Interconnection - Depending on the area, local permitting and utility interconnection fees will impact the cost of your installation. Quality 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 Hamtramck?

YellowLite

Cleveland, OH(877) 743-8757

Services

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

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

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

Power Home Solar

Mooresville, NC(704) 870-3670

Services

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

Dividend Finance

San Francisco, CA(415) 805-7000

Services

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

Palmetto Solar

Charleston, SC(855) 339-1831

Services

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

SunPower Corporation

San Jose, CA(800) 786-7693

Services

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

Silver Sun Solar

Deltona, FL(340) 227-7785

Services

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

Harvest Solar

Jackson, MI(888) 907-6527

Services

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

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

Entegrity

Little Rock, AR(800) 700-1414

Services

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

Ideal Energy

Fairfield, IA(800) 634-4454

Services

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

Altenergy

Charlottesville, VA(434) 293-3763

Services

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

City Electric Supply

Dallas, TX(866) 634-9853

Services

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

PowerHome Solar

Mooresville, NC(704) 870-3670

Services

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

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.

Hamtramck, MI Solar Panel Cost FAQs

  • In Hamtramck, MI, the mean cost per watt for solar panels as recorded in October, 2024 is $3.83/W. The approximate cost of a 5 kW solar panel system in Hamtramck, MI, after deducting federal tax credits, is $13,405.

  • Michigan offers 14 different rebates and incentives from a range of utilities and government organizations. Also, nearly everyone can take advantage of the 30% federal tax credit.

  • While cash payments provide the most savings, there are now many financing options for solar panels that are also cost-effective. Information about financing options will often be detailed in your preliminary quotes by many installers.

  • Yes, the typical payback time for 5 kW solar panel systems in Hamtramck, MI is 9 years, and the expected electricity cost savings over 20 years is $15,507.8.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01