Solar Panels Cost 11k-22k in Paw Paw Lake CDP, MI | October, 2024

Solar Panels Cost $11k-$22k in Paw Paw Lake CDP, MI | October, 2024

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How much do solar panels cost in Paw Paw Lake CDP, MI in 2024?

On average, in Paw Paw Lake CDP, MI in the month of October, 2024, the cost per watt for going solar is $3.98/W.

Stemming from this rate, we can conclude that for every 1 kW (1000 watts) of solar power capacity will require an investment of $3,980 for installation. A 5 kW solar panel install in Paw Paw Lake CDP averages approximately $13,930 after accounting for the 30% federal income tax credit. Remember, a more extensive system may be needed to fully meet your energy demands effectively.

By selecting your county on the left, you can find out the typical roof size and the maximum capacity for residential solar on homes in your area. The following summary, below, highlights the price, 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.
Paw Paw Lake CDP: $13,930US Average: $12,562
Average Payback Period The number of years until you break even on the solar investment.
Paw Paw Lake CDP: 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.
Paw Paw Lake CDP: $10,981US Average: $15,784

Solar Potential in Paw Paw Lake CDP

Estimated system size and solar electricity production per median viable roof in
Paw Paw Lake CDP.

Roof size 572sq. ft.
Capacity 8kW DC
Electricity 8.5kkWh AC per yr.

Electricity Costs in Paw Paw Lake CDP, MI & What that Means for Your Solar Panel Pricing

On average, the electric bill for a Paw Paw Lake CDP resident is $128.67, and they use 809 kWh each month. Apartments and compact residences with reduced energy consumption are included in this statistic.

Paw Paw Lake CDP, MI's electricity rate is 15.9¢ per kWh in October 2024.

Typical electricity users in Paw Paw Lake CDP may require a solar power system of 8 kW or larger to meet their entire electricity consumption needs. Installing a an 8 kW solar panel installation will cost around $31,840 before applying incentives, but with the federal income tax credit, you can get 30% back, bringing the total to $22,288.

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Average solar panel costs by system size in Paw Paw Lake CDP

Presented on the left, you will find a price breakdown for various solar panel system sizes installed in Paw Paw Lake CDP. A larger solar array will naturally cost more, but it will also provide higher electricity savings and higher income tax credits.

Using the solar panel cost calculator located down and to the right, you can view a detailed cost and benefit analysis based on an average electric bill of $128.67 in Paw Paw Lake CDP. Swap the $128.67 with your average electricity bill for custom results.

System Size 4kW
Roof Size Min. space required
286 ft²
Electricity Value Annual Production $875 a year
Est. Price
$11,144
Savings from a 4kWthis system
  • Est. yearly production 5,468 kWh
  • Est. monthly savings $73
  • Full payback in 7 years
Environmental Impacts
  • Reduces CO2 emissions by 2.34 tons a year
  • Equivalent to planting 107 trees a year
  • Equivalent to driving 5,783 mi less a year
System Size 5kW
Roof Size Min. space required
358 ft²
Electricity Value Annual Production $1,094 a year
Est. Price
$13,930
Savings from a 5kWthis system
  • Est. yearly production 6,835 kWh
  • Est. monthly savings $91
  • Full payback in 9 years
Environmental Impacts
  • Reduces CO2 emissions by 2.92 tons a year
  • Equivalent to planting 134 trees a year
  • Equivalent to driving 7,228 mi less a year
System Size 6kW
Roof Size Min. space required
429 ft²
Electricity Value Annual Production $1,312 a year
Est. Price
$16,716
Savings from a 6kWthis system
  • Est. yearly production 8,202 kWh
  • Est. monthly savings $109
  • Full payback in 11 years
Environmental Impacts
  • Reduces CO2 emissions by 3.5 tons a year
  • Equivalent to planting 161 trees a year
  • Equivalent to driving 8,674 mi less a year
System Size 7kW
Roof Size Min. space required
501 ft²
Electricity Value Annual Production $1,531 a year
Est. Price
$19,502
Savings from a 7kWthis system
  • Est. yearly production 9,569 kWh
  • Est. monthly savings $128
  • Full payback in 13 years
Environmental Impacts
  • Reduces CO2 emissions by 4.09 tons a year
  • Equivalent to planting 188 trees a year
  • Equivalent to driving 10,120 mi less a year
System Size 8kW
Roof Size Min. space required
572 ft²
Electricity Value Annual Production $1,750 a year
Est. Price
$22,288
Savings from a 8kWthis system
  • Est. yearly production 10,936 kWh
  • Est. monthly savings $129
  • Full payback in 14 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

Paw Paw Lake CDP Solar Panel Installation Incentives & Rebates | 2024

With the REAP Grant, up to 100% and no less than 80% of the installation costs for solar or wind turbines may be covered for rural small business owners and farmers. Curious if you fit this category? Check your eligibility with our REAP Grant eligibility tool.

For residential solar projects, most people are eligible for the 30% federal income tax credit, making solar a practical solution in numerous parts of the country. State and local efforts are also in place to enhance the growth of solar energy use.

A variety of utilities and governmental bodies in Michigan provide 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?

For those expecting to remain in their homes after the solar system's payback period, adding solar panels is a obvious choice in Paw Paw Lake CDP. If you install a 5 kW solar system in Paw Paw Lake CDP, MI, you might save $16,950.8 over 20 years on average, with a break even point at approximately 9 years.

The cost of not having solar panels in Paw Paw Lake CDP, MI

The absence of solar panels or another backup power source means missing out on the previously highlighted savings and full dependence on your electric utility for power. As recent examples in the news have shown, total dependence on your utility provider is not always ideal.

The utilities in Paw Paw Lake CDP have averaged about 1.32 outages per customer per year recently. The average length of an outage is 260.05 minutes. However, during significant events such as high winds, grid management errors, or planned maintenance, this duration can grow considerably.

A solar energy system, with or without a backup battery, could help reduce the effects of any future power interruptions you might experience.

Power Outages

Currently, 0 customers are being tracked in Berrien County.

Learn more

Customers Out:

0

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What impacts the cost of solar panels in Paw Paw Lake CDP, MI?

Your Energy Needs - Even if the initial expense is greater, the price per watt decreases with larger solar panel systems. Consumers often find that setting up a solar system that can fully cover their electric bill is extremely useful. This method leads to greater savings.

Make & Model - There are a variety of makes and models of solar panels. Because the installer you select might have specific brand preferences, choosing a reputable installer is especially important. For consumers wanting a superior long-term experience, opting for better quality models is important.

Solar Panel Type - Monocrystalline panels have earned their place as the standard in the industry, and for valid reasons. Although the cost is higher, they provide more energy. The majority of installers use these panels.

Your Property - Every home and property differs in its own way. Challenges like sloped land, trees, or other hindrances can increase the difficulty of installing solar panels. Many solar installers now are able to leverage satellite imagery to evaluate your home and incorporate these factors in the preliminary cost estimate.

Labor Rates - Employees get varying wages from different companies, and these costs are handed down to the consumers. Companies that invest in higher wages usually see higher reviews for their services and customer service.

Permitting & Interconnection - Your final installation price will be influenced by the permitting and utility interconnection fees, which vary by area. Good local installers will build these figures into your preliminary 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 Paw Paw Lake CDP?

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.

Paw Paw Lake CDP, MI Solar Panel Cost FAQs

  • As of October, 2024, the typical cost for solar panels in Paw Paw Lake CDP, MI is $3.98/W. A 5 kW solar panel system will cost you around $13,930 in Paw Paw Lake CDP, MI after the federal tax credit is applied.
  • There are 14 rebates and incentives available in Michigan from a range of utility providers and government organizations. On top of that, most individuals are eligible for the 30% federal income tax credit.
  • Cash payments provide the greatest savings, but numerous financing options for solar panels that are financially advantageous are now available. Many installers work with financing partners and will include this information in your initial quotes.
  • Yes, the average 5 kW solar panel payback time in Paw Paw Lake CDP, MI is 9 years, with expected savings of $16,950.8 on electricity over 20 years.
Alex Zdanov
Last Reviewed By: Alex Zdanov
Published: 2024-10-01