Solar Panels Cost 5.5k-16k in Marysville, MI | October, 2024

Solar Panels Cost $5.5k-$16k in Marysville, MI | October, 2024

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

In Marysville, MI, the price per watt for solar panel installations is around $3.95 per watt in October, 2024.

Put another way, solar panels will cost you $3,950 per 1 kW (or 1000 watts) of generation capacity. After subtracting the 30% federal tax credit, a 5 kW panel install in Marysville typically costs $13,825. Subject to your energy usage, you might require a larger system.

To the left,choose your area to see the average roof size and the average maximum capacity of residential solar for homes in your county. You can review the costs, payback period, and 20-year average savings for a 5 kW system installed in your county below.

Average out-of-pocket cost for a 5 kW system The upfront amount spent to buy and install solar.
Marysville: $13,825US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Marysville: 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.
Marysville: $9,163US Average: $15,784

Solar Potential in Marysville

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

Roof size 554sq. ft.
Capacity 7.75kW DC
Electricity 8.3kkWh AC per yr.

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

With an average monthly usage of 599 kWh, Marysville citizens see electric bills around $120.47 each month. This number also encompasses data from apartments and other smaller homes, which typically require lower energy requirements.

The electricity rate per kWh in Marysville, MI for October 2024 is 20.1¢.

In Marysville, average users need a system size of 6 kW or greater to fully account for all of their power demands. Currently, a 6 kW solar system will initially set you back around $23,700, but the 30% tax credit lowers the cost to $16,590.

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Average solar panel costs by system size in Marysville

Displayed below and to the left, you can find a thorough pricing structure for various solar panel system sizes set up in Marysville. When you select a bigger solar system, the cost is higher, but it also results in higher electricity savings and a more substantial income tax credit.

Using the solar panel cost calculator situated down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $120.47 in Marysville. Modify the $120.47 to your usual electricity bill payment for results that are tailored to you.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $547 a year
Est. Price
$5,530
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
$8,295
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
$11,060
Savings from a 4kWthis system
  • Est. yearly production 5,468 kWh
  • Est. monthly savings $91
  • Full payback in 8 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
$13,825
Savings from a 5kWthis system
  • Est. yearly production 6,835 kWh
  • Est. monthly savings $114
  • Full payback in 10 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
$16,590
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

Marysville Solar Panel Installation Incentives & Rebates | 2024

Eligible rural small businesses and farms might have their solar or wind turbine installation costs covered by the REAP Grant, ranging from 80% to 100%. Wondering if you fit this category? Check your eligibility with our REAP Grant eligibility tool.

The federal government offers a 30% tax credit for residential solar systems, which makes solar appealing and sensible for a wide range of homeowners. There are also a range of state and local programs aimed at enhancing solar energy use.

Several utilities and government bodies in Michigan currently offer 14 solar rebates and incentives.

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?

When you intend to live in your home beyond the payback period of your solar system, solar panels are an clear choice in Marysville. A 5 kW solar system in Marysville, MI might save you an average of $15,087.8 over 20 years, with the break even point usually being 10 years.

The cost of not having solar panels in Marysville, MI

Beyond missing out on the savings, the absence of solar panels or another backup energy source leads to full dependence on your electric utility for your power needs. Recent news coverage has revealed that total dependence on your utility company isn't always the most favorable scenario.

On average, customers in Marysville have experienced 0.98 utility outages per year in recent times. The average duration of each outage is 146.15 minutes. During severe events like vandalism, overloaded power grids or wildfires, these times can grow significantly longer.

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

Power Outages

Currently, 0 customers are being tracked in St. Clair County.

Learn more

Customers Out:

0

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

Your Energy Needs - Even if the initial expense is higher, the price per watt drops with larger solar panel systems. Many consumers realize it's a good idea to set up a solar system that can generate enough power to offset their electric bill, because it helps them save more money.

Make & Model - Solar panels come in a range of makes and models. Because the installer might have specific brand preferences, it's essential to select a recommended installer. The selection of superior models can greatly enhance the long-term experience for buyers.

Solar Panel Type - For numerous good reasons, monocrystalline panels are now the standard in the industry. Even with a higher cost, this technology generate more energy. The majority of installers choose panels made using this material.

Your Property - Each property and home is one of a kind. Sloped land, trees, or other barriers can increase the difficulty of installing solar panels. These days, solar installers frequently utilize satellite images to evaluate your home and incorporate these considerations into the first cost estimate.

Labor Rates - The wages employees are paid from their employers are different, and these expenses are transferred to the consumers. It is frequent for companies that provide higher wages to receive better reviews for their work and customer service.

Permitting & Interconnection - Installation costs will be influenced by varying local permitting and utility interconnection fees, depending on the region. Reliable local installers will incorporate these figures into your first estimates to eliminate any surprises.

See what solar panels cost in other MI cities

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Who are the best solar installers in Marysville?

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.

Marysville, MI Solar Panel Cost FAQs

  • The typical cost per watt for solar panels in Marysville, MI as of October, 2024 is $3.95/W. A 5 kW solar panel system will cost you around $13,825 in Marysville, MI after the federal tax credit is applied.

  • Right now, Michigan has 14 rebates and incentives available through a variety of utility companies and government entities. Additionally, the vast majority qualify for the 30% federal tax credit.

  • Although paying in cash provides the most savings, several financing options for solar panels now exist that are cost-effective. Initial quotes from installers will frequently detail information about available financing options.

  • Yes, homeowners in Marysville, MI generally see a payback time of 10 years for 5 kW solar panel systems, with electricity savings averaging $15,087.8 over a 20-year period.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-10-01