Solar Panels Cost 5.2k-15k in Monroe County, MI | November, 2024

Solar Panels Cost $5.2k-$15k in Monroe County, MI | November, 2024

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How much do solar panels cost in Monroe County, MI in 2024?

Having solar panels installed averages out to $3.74/W in November, 2024 in Monroe County, MI.

Or in other words, for every 1000 watts (or 1 Kw) your system can generate you will spend $3,740 to get your system installed in . Applying the 30% federal tax credit, the average expense for a 5 kW solar system in Monroe County is about $13,090. Don't forget, a more powerful system could be necessary to meet your energy needs.

To the left, you can choose your county to determine the average roof size and the maximum capacity of solar panel systems for houses in your area. Below, you'll see a detailed summary of the costs, payback period, and 20-year typical 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.
Monroe County: $13,090US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Monroe County: 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.
Monroe County: $10,561US Average: $16,169

Solar Potential in Monroe County

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

Roof size 697sq. ft.
Capacity 9.75kW DC
Electricity 10.7kkWh AC per yr.

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

An energy consumer in Monroe County typically uses 616 kWh per month, leading to an average electric bill of 121.92. These figures also cover apartments and other smaller homes with less energy demand.

For November 2024, Monroe County, MI's mean electricity rate is 19.79¢ per kWh.

After incentives, a 6 kW setup costs around $15,708.

Go Solar for less than your cell phone bill.

Average solar panel costs by system size in Monroe County

Presented on the left and below is the pricing structure for various sizes of the solar panel systems installed in Monroe County. The more extensive the solar array, the higher the initial expense, but also the more considerable electricity savings and income tax credits you'll get.

The calculator to the right and below provides a detailed summary of solar panel costs and benefits, based on an average electric bill of $121.92 in Monroe County. By modifying the $121.92 to your usual electricity bill, you can get customized results.

System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $547 a year
Est. Price
$5,236
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 2.28 tons a year
  • Equivalent to planting 105 trees a year
  • Equivalent to driving 5,644 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $820 a year
Est. Price
$7,854
Savings from a 3kWthis system
  • Est. yearly production 4,101 kWh
  • Est. monthly savings $68
  • Full payback in 5 years
Environmental Impacts
  • Reduces CO2 emissions by 3.42 tons a year
  • Equivalent to planting 157 trees a year
  • Equivalent to driving 8,465 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $1,094 a year
Est. Price
$10,472
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 4.56 tons a year
  • Equivalent to planting 209 trees a year
  • Equivalent to driving 11,287 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,367 a year
Est. Price
$13,090
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 5.7 tons a year
  • Equivalent to planting 262 trees a year
  • Equivalent to driving 14,109 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,640 a year
Est. Price
$15,708
Savings from a 6kWthis system
  • Est. yearly production 8,202 kWh
  • Est. monthly savings $122
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 6.1 tons a year
  • Equivalent to planting 280 trees a year
  • Equivalent to driving 15,111 mi less a year

Monroe County Solar Panel Installation Incentives & Rebates | 2024

Rural small business owners and farmers could receive REAP Grant funding covering between 80% and 100% of their solar energy or wind turbine installation costs. Believe you fall into this category? Verify your qualification with our REAP Grant eligibility tool.

Nearly all residents can qualify for a 30% federal income tax credit for residential solar, which makes it a sensible option in various areas of the United States. On top of that, there are various state and local incentives to further encourage the adoption of solar energy.

Multiple utilities and government agencies in Michigan provide 17 solar rebate and incentive initiatives.

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.

City of Ann Arbor - Green Power Purchasing

Value:Varies

The city of Ann Arbor is working toward a long-term goal of sourcing 100% of its energy from renewable means. Four initiatives support this goal, including community-choice power purchasing agreements, solar/wind system incentive programs, establishing community solar microgrids, and converting retired landfills into solar farms. Additional information is available from the Ann Arbor website.

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.

City of Grand Rapids - Green Building Requirements for Municipal Buildings

Value:Varies

Grand Rapids has adopted a local green building ordinance for municipal facilities. New public buildings and remodeling projects which affect at least 10,000 square feet or cost $1 million must meet or exceed LEED Silver certification or an equivalent standard. Existing buildings should draft plans to implement LEED-friendly improvements and "best practices", including procuring ENERGY STAR certified appliances and building materials when necessary. Additional information is available from the city website.

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.

City of Lansing - Green Power Purchasing Policy

Value:Varies

Lansing has established its own renewable portfolio standard goals. The city was required to source 20% of its energy from renewable means by 2020 and 50% by 2030. Additional measures set goals for reducing energy use by 10% in city buildings. Additional information is available from the Lansing municipal 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 Monroe County, MI?

For those looking to stay in their home past the solar system's payback period, solar panels are a wise investment in Monroe County. In Monroe County, MI, a 5 kW solar system installation might save you $16,170.8 on average over 20 years, with a usual break even point of 9 years.

The cost of not having solar panels in Monroe County, MI

If you don't have solar panels or an alternate backup power source, you miss out on the aforementioned savings and your household is completely dependent on your electric utility for electricity. Recent news reports have shown that total reliance on your utility is not always the best situation.

Monroe County utilities have averaged 0.92 outages per customer per year in recent times. On average, the length of an outage is 169.87 minutes. Major events like wildlife damage, overloaded power grids or hurricanes can cause these durations to rise considerably.

See the component below to see the number of current electricity customers without power in Monroe County.

A solar panel system could lessen the burden of future outages, even if it is without a backup battery.

Power Outages

Currently, 0 customers are being tracked in Monroe County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Monroe County, MI?

Your Energy Needs - Investing in larger solar panel systems costs more upfront, but the price per watt is decreased as the system size expands. Many consumers realize it's a smart idea to install a solar system that can generate enough power to fully cover their electric bill, because it helps them reduce costs.

Make & Model - Similar to many other products, there are different makes and models of solar panels to choose from. The installer’s preference for brand makes it essential to select a reputable company. Choosing better quality materials usually ensures a more favorable long-term experience for the buyer.

Solar Panel Type - Monocrystalline panels have established themselves as the industry standard, and for good reasons. Although they are pricier, they generate increased energy. Most installers use panels constructed from this material.

Your Property - Every home and property differs in its own way. Challenges like trees, irregular terrain, or other impediments can increase the difficulty of installing solar panels. Solar installers currently commonly use satellite imagery to assess your home and include these considerations into the preliminary cost estimate.

Labor Rates - The differing wages that companies give their employees result in costs that are inevitably passed on to consumers. It is typical for companies that offer higher wages to get better reviews for their services and customer service.

Permitting & Interconnection - The fees for local permitting and utility interconnection, which vary by area, will influence the cost of your installation. Reliable installers will factor these costs into your first quotes to prevent unexpected expenses.

Go Solar for less than your cell phone bill.

Who are the best solar installers in Monroe County?

YellowLite

Cleveland, OH(216) 333-1364

Services

  • 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.

Academy Energy Group

Newburgh, IN(812) 518-2150

Services

  • Installation of solar arrays.
  • 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.

Power Home Solar

Mooresville, NC(704) 870-3670

Services

  • 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.

Dividend Finance

Cincinnati, OH(415) 805-7000

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.

Palmetto Solar

Charleston, SC(855) 339-1831

Services

  • 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.

SunPower Corporation

San Jose, CA(800) 786-7693

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Monitoring of independent energy generation.
  • 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(407) 832-42452

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.

Harvest Solar

Jackson, MI(888) 907-6527

Services

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

Sunnova Energy

Houston, TX(866) 786-6682

Services

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

GRNE Solar

Palatine, IL(312) 859-3417

Services

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

Entegrity

Little Rock, AR(800) 700-1414

Services

  • Installation of solar arrays.
  • Reparation of solar arrays.
  • Installation of batteries for energy storage.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • Expertise in consulting on advantageous financing for solar.
  • Consulting on all things solar related.

Ideal Energy

Fairfield, IA(800) 634-4454

Services

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

Altenergy

Charlottesville, VA(434) 293-3763

Services

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

City Electric Supply

Dallas, TX(866) 634-9853

Services

  • Installation of solar arrays.
  • Auditing of energy requirements for independent energy generation.
  • Monitoring of independent energy generation.
  • 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.

Monroe County, MI Solar Panel Cost FAQs

  • As of November, 2024, the average solar panel installation cost in Monroe County, MI has reached $3.74/W. With the federal tax credit, the cost of a 5 kW solar panel system in Monroe County, MI drops to roughly $13,090.

  • There are 17 rebates and incentives available in Michigan from a range of utility providers and government organizations. On top of that, nearly everyone can qualify for the 30% federal tax credit.

  • While paying cash ensures the most savings, numerous financing options for solar panels exist that also are financially sensible. Financing options are often provided by installers and may be included in your initial quotes.

  • Yes, the average time to recoup the cost of 5 kW solar panels in Monroe County, MI is 9 years, with homeowners saving an average of $16,170.8 on electricity over 20 years.
Ginalyn Gelera
Last Reviewed By: Ginalyn Gelera
Published: 2024-11-04