Solar Panels Cost $5.3k-$16k in Newaygo County, MI | November, 2024
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How much do solar panels cost in Newaygo County, MI in 2024?
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It is approximately $3.85/W in Newaygo County, MI in November, 2024 to get solar installed.
Each 1 kW (1000 watts) of solar power capacounty will cost you $3,850 for installation. When you consider the 30% federal tax credit, you can expect to spend around $13,475, in Newaygo County, for a 5 kW system. Subject to your electricity consumption, your home may need a larger system.
To the left, you can select your county to determine the typical roof size and average maximum capacity for solar panels on homes in your area. Displayed below is an overview of 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.
Newaygo County: $13,475US Average: $12,523
Average Payback Period The number of years until you break even on the solar investment.
Newaygo County: 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.
Newaygo County: $7,707US Average: $16,169
Solar Potential in Newaygo County
Estimated system size and solar electricity production per median viable roof in Newaygo County.
Roof size 644sq. ft.
Capacity 9kW DC
Electricity 9.7kkWh AC per yr.
Electricity Costs in Newaygo County, MI & What that Means for Your Solar Panel Pricing
The average electricity bill for a Newaygo County resident is 112.32, with a monthly consumption of 617 kWh. Keep in mind that the statistic includes both apartments and smaller homes, which typically require reduced energy.
The average rate for electricity in Newaygo County, MI during November, 2024 is 18.2¢ per kWh.
At this time, a 6 kW setup has an upfront cost of about $23,100, but after a 30% tax credit, it drops to $16,170
Go Solar for less than your cell phone bill.
Average solar panel costs by system size in Newaygo County
Displayed on the left, you will find a price breakdown for different solar panel system sizes installed in Newaygo County. Bigger solar installations come with a greater cost, yet they also offer increased electricity savings and more generous income tax credits.
Check the solar panel cost calculator below and to the right to see the cost and benefit details based on an average $112.32 electric bill in Newaygo County. Adjust the $112.32 to your typical electricity bill payment for more accurate results.
System Size
Roof Size Min. space required
Electricity Value Annual Production
Est. Price
System Size 2kW
Roof Size Min. space required
143 ft²
Electricity Value Annual Production $492 a year
Est. Price
$5,390
Savings from a 2kWthis system
Est. yearly production 2,734 kWh
Est. monthly savings $41
Full payback in 4 years
Environmental Impacts
Reduces CO2 emissions by 1.23 tons a year
Equivalent to planting 57 trees a year
Equivalent to driving 3,046 mi less a year
System Size 3kW
Roof Size Min. space required
215 ft²
Electricity Value Annual Production $738 a year
Est. Price
$8,085
Savings from a 3kWthis system
Est. yearly production 4,101 kWh
Est. monthly savings $62
Full payback in 6 years
Environmental Impacts
Reduces CO2 emissions by 1.85 tons a year
Equivalent to planting 85 trees a year
Equivalent to driving 4,569 mi less a year
System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $984 a year
Est. Price
$10,780
Savings from a 4kWthis system
Est. yearly production 5,468 kWh
Est. monthly savings $82
Full payback in 8 years
Environmental Impacts
Reduces CO2 emissions by 2.46 tons a year
Equivalent to planting 113 trees a year
Equivalent to driving 6,092 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,230 a year
Est. Price
$13,475
Savings from a 5kWthis system
Est. yearly production 6,835 kWh
Est. monthly savings $103
Full payback in 10 years
Environmental Impacts
Reduces CO2 emissions by 3.08 tons a year
Equivalent to planting 141 trees a year
Equivalent to driving 7,615 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,476 a year
Est. Price
$16,170
Savings from a 6kWthis system
Est. yearly production 8,202 kWh
Est. monthly savings $112
Full payback in 12 years
Environmental Impacts
Reduces CO2 emissions by 3.36 tons a year
Equivalent to planting 154 trees a year
Equivalent to driving 8,319 mi less a year
Newaygo County Solar Panel Installation Incentives & Rebates | 2024
If you're a rural small business or farm owner, you might be eligible for REAP Grant coverage of between 80% and 100% for your photovoltaic or wind turbine project. If you believe you might qualify, we suggest trying our REAP Grant eligibility tool to check.
Nearly all residents are eligible for the 30% federal income tax credit for residential solar, making it a feasible option in numerous states throughout the country. Additionally, a variety of state and local programs are available to promote solar adoption.
There are 17 solar rebate and incentive programs currently offered in Michigan by multiple utilities and government bodies.
Solar incentives in MIIncentive Description Value
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 Newaygo County, MI?
If your goal is to keep your home well past the payback period of your solar system, solar panels are an excellent choice in Newaygo County. Installing a 5 kW solar system in Newaygo County, MI will, on average, save you $13,481.8 over 20 years, and you can expect to break even in about 10 years.
The cost of not having solar panels in Newaygo County, MI
In addition to forgoing the savings, the absence of solar panels or another backup energy source results in full dependence on your electric utility for your power needs. As recent examples in the news have shown, full reliance on your utility provider isn't always the best idea.
Each year, customers in Newaygo County face about 1.16 outages. Each outage, on average, lasts for 185.08 minutes. In the case of major events like wildlife damage, grid management errors or hurricanes, this period can rise substantially.
View the info below to see the number of current electricity customers without power in Newaygo County.
Even without a backup battery, a solar panel system can help mitigate the strain of future outages you may face.
Power Outages
Currently, 0 customers are being tracked in Newaygo County.
What impacts the cost of solar panels in Newaygo County, MI?
Your Energy Needs - Even though larger solar panel systems are more expensive initially, the average price per watt decreases as the system size increases. A lot of people find it useful to set up a solar energy system that can offset their entire electric bill. This results in maximum savings.
Make & Model - There are numerous brands and models of solar panels. The preferences for system that your contractor has may make it essential to choose a reputable installer. The use of superior models is probably will result in a more satisfactory long-term experience for buyers.
Solar Panel Type - There are valid reasons why monocrystalline panels are now considered the industry standard. Although they are pricier, they provide increased energy. Most installers work with panels crafted of this material.
Your Property - Every home and property differs in its own way. Challenges such as trees, sloped land, or additional considerations can increase the difficulty of installing solar panels. By using satellite imagery, solar installers can currently assess your home and include these considerations into the first cost estimate.
Labor Rates - The wage differences between companies result in costs that are passed on to the consumers. Higher reviews for services and customer service are often associated with businesses that pay higher wages.
Permitting & Interconnection - The cost of installation will vary depending on local permitting and utility interconnection fees. Experienced local installers will include these figures in your initial estimates to provide transparency.
See what solar panels cost in other Newaygo County cities
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Who are the best solar installers in Newaygo County?
Auditing of energy requirements for independent energy generation.
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Newaygo County, MI Solar Panel Cost FAQs
As of November, 2024, the average cost for solar panels in Newaygo County, MI is $3.85/W. With the federal tax credit, the cost of a 5 kW solar panel system in Newaygo County, MI drops to roughly $13,475.
Currently, Michigan residents can benefit from 17 rebates and incentives available through various utilities and government bodies. Additionally, the vast majority qualify for the 30% federal tax credit.
Paying cash yields the most savings, but there are now numerous financing options for solar panels that are also financially beneficial. Financing details are often provided by installers and may be detailed in your initial quotes.
Yes, solar panels systems of 5 kW in Newaygo County, MI typically have a payback period of 10years, with expected savings on electricity costs of $13,481.8 over 20 years.