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

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

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How much do solar panels cost in Lincoln Park, MI in 2024?

To go solar in Lincoln Park, MI in October, 2024 is approximately $3.83/W.

Each 1 kW (1000 watts) of solar power capacity will require an investment of $3,830 for installation. We can come to this conclusion in accordance with this rate price cost per watt. A 5 kW panel install in Lincoln Park will generally cost you $13,405 after the 30% federal tax credit. Please note that a larger system may be needed to ensure your energy requirements are met.

By selecting your county on the left, you can discover the average roof size and the average maximum capacity for residential solar panel systems in your area. The following analysis, below, highlights the costs, payback period, and 20-year average savings for a 5 kW system in your county.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Lincoln Park: $13,405US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Lincoln Park: 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.
Lincoln Park: $9,763US Average: $15,784

Solar Potential in Lincoln Park

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

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

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

Energy consumers in Lincoln Park typically use 599 kWh per month, with an average monthly bill of $120.47. This number also comprises data from smaller living spaces like apartments with less energy needs.This figure includes the energy usage patterns of smaller dwellings, including apartments.

In October 2024, the mean electricity rate in Lincoln Park, MI is 20.1¢ per kWh.

The average energy user in Lincoln Park will need a 6 kW or larger solar setup to cover their full energy usage demands. You'll spend $16,086 on a 6 kW solar panel installation after including the 30% federal income tax credit in your calculations.

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Average solar panel costs by system size in Lincoln Park

To the left, you'll see a detailed price breakdown of the various sizes of solar panel systems set up in Lincoln Park. With larger solar systems, the price goes up, but so do the electricity savings and the income tax credits you can receive.

The solar panel cost and benefit breakdown, displayed in the calculator below and to the right, is based on an average electric bill of $120.47 in Lincoln Park. Change the $120.47 to your average electricity bill payment for more detailed results.

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

Lincoln Park Solar Panel Installation Incentives & Rebates | 2024

Rural small businesses and farms can benefit from the REAP Grant, which may cover between 80% and 100% of your solar energy or wind turbine installation costs. Believe you fall into this category? Check your qualification with our REAP Grant eligibility tool.

For those considering residential solar, the 30% federal income tax credit is offered to almost all homeowners, which makes solar power a smart investment in numerous parts of the country. Additionally, various state and local programs exist to further encourage the adoption of solar power.

Multiple utilities and governmental agencies in Michigan offer 14 solar rebate and incentive programs.

Solar incentives in MI

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're intending to stay in your home past the period required to pay back your solar investment, installing solar panels is a good decision in Lincoln Park. A 5 kW solar system in Lincoln Park, MI might save you an average of $15,507.8 over 20 years, with the break even point usually being 9 years.

The cost of not having solar panels in Lincoln Park, MI

In addition to forgoing the savings mentioned previously, not installing solar panels or another form of backup power results in you being completely dependent on your electric utility. Full reliance on your utility provider isn't always ideal, as recent examples in the news have shown.

On average, customers in Lincoln Park have experienced 0.98 utility outages per year recently. On average, an outage lasts 146.15 minutes. When major events such as wildfires, planned maintenance, or equipment failure occur, these durations can increase significantly

With or without a backup battery, a solar panel system could reduce the stress of future power disruptions you might encounter.

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 Lincoln Park, MI?

Your Energy Needs - The price per watt lowers with larger solar panel systems, even though the upfront cost is larger. For most consumers, installing a system that can produce enough power to reduce their entire electric bill is useful, providing significant savings.

Make & Model - Like many products, solar panels and mounting equipment are offered in a variety of makes and models. The system preferences of your selected installer can make it crucial to select a reputable installer. The use of better materials is probably will result in a more satisfactory long-term experience for buyers.

Solar Panel Type - For good reason why monocrystalline panels are now considered the industry standard. They come with a higher price but are more energy-efficient. The majority of solar panel installers use panels made of this material.

Your Property - No two properties or homes are identical. Trees, uneven landscapes, or additional hurdles can increase the difficulty of the installation. These days, the majority of solar installers can evaluate your home with satellite images and incorporate these elements in the preliminary cost estimate.

Labor Rates - Various wages are paid to employees by various companies, and these expenses are transferred to the consumers. It is often observed that companies with higher wages receive superior reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be influenced by the permitting and utility interconnection fees, which change by area. That said, experienced local installers will be able to build these numbers into your preliminary quotes so there are no surprises.

See what solar panels cost in other MI cities

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Who are the best solar installers in Lincoln Park?

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.

Lincoln Park, MI Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Lincoln Park, MI is $3.83/W. In Lincoln Park, MI, the cost of installing a 5 kW solar panel system is approximately $13,405 after applying the federal tax credit.
  • At present, there are 14 rebates and incentives available to Michigan residents from various utility and government programs. Additionally, the vast majority qualify for the 30% federal tax credit.
  • Paying in cash provides the highest savings, but there are several financing options available today for solar panels that are also financially advantageous. Information about financing options is typically detailed in initial quotes provided by installers.
  • Yes, solar panels systems of 5 kW in Lincoln Park, MI typically have a payback period of 9years, with expected savings on electricity costs of $15,507.8 over 20 years.
Matt Hope
Last Reviewed By: Matt Hope
Published: 2024-10-01