The cost of solar panels in Saginaw, MI (2024)

Updated Jul 9, 2024

  • You'll pay an average of $15,939 to install a 5 kilowatt solar panel system in Saginaw, MI, before incentives.

  • The federal investment tax credit (ITC) lowers that price by 30% of all your solar equipment and installation costs.

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Written by: Emily Walker

As of July 2024, the average solar panel system costs $3.19/W including installation in Saginaw, MI. For a 5 kW installation, this comes out to about $15,939 before incentives, though prices range from $13,548 to $18,330. After the federal tax credit, the average price drops by 30%.

Average price of a 5 kW solar panel installation in Saginaw, MI

Good Price
$13,548 or less
Market Average
$15,939
High Price
$18,330 or more

You'll probably pay even less than what we show here. It doesn't include the federal ITC or Saginaw, MI state incentives, which will lower this price by at least a few thousand dollars.

Your solar panel cost depends on your system's size

It may seem obvious but larger solar panel systems cost more money. We use cost per watt ($/W) so you can easily compare quotes, controlling for slight variations in system size.

While a 5 kW system will only cost you $15,939 in Saginaw, MI, doubling the system size effectively doubles the price, so you'll pay about twice that for a 10 kW system. The higher the price tag, though, the more you'll get back as a credit towards your federal tax bill.

Average solar cost by system size in Saginaw, MI

System Size
System Cost
System Cost (after ITC)
3 kW$9,564$6,694
4 kW$12,751$8,926
5 kW$15,939$11,157
6 kW$19,127$13,389
7 kW$22,315$15,620
8 kW$25,503$17,852
9 kW$28,691$20,083
10 kW$31,879$22,315

Are solar panels worth it in Saginaw, MI?

Solar panels are worth it in most areas, including Saginaw, MI. Certain factors, including the cost of electricity, incentives, climate, and the angle at which the sun hits your roof impact how quickly you break even on your investment relative to other areas around the U.S. 

If you pay for your system with cash, you'll save about $15,979 over 20 years on electricity costs with a 5 kW system in Saginaw, MI. We generate this estimate based on real solar quote data from our Marketplace. It considers your system's cost, the federal tax credit, and inflation rates.

If you don't have access to net metering, these estimates don't account for utility net billing rates.

Payback Period
13.14 Years
20-Year Savings
$15,979
Cost-per-Watt
$3.19

If you can't shell out $15,939 in cash to pay for solar, don't sweat it. You can choose to finance your system with a loan instead. Some companies even offer $0-down loans so you can start saving on day one if your loan payments are less than your current electric bills. Just keep in mind that your long-term savings will be lower with a loan due to interest rates.

Find out what solar panels cost in your area in 2024
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The numbers we're showing are averages. The price you'll pay for solar depends on many factors unique to you and your home:

If you're looking for solar companies in MI, here are some popular suggestions:

  • Strawberry Solar
    Detroit, MI
    Established 2010
    Elite Installer
    Strawberry Solar is headquartered in Detroit, serving the lower peninsula of Michigan. We are staffed with expert...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    48 Reviews

    Strawberry Solar is headquartered in Detroit, serving the lower peninsula of Michigan. We are staffed with expert...
  • North Coast Solar
    Davison, MI
    Established 2019
    Elite Installer
    We pride ourselves on providing the truth about how solar will benefit or not benefit our fellow Michiganders. It...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    34 Reviews

    We pride ourselves on providing the truth about how solar will benefit or not benefit our fellow Michiganders. It...
  • Oak Electric
    Waterford, MI
    Established 1999
    Elite Installer
    We don’t just want to be your solar installer we also want be your electrician, plumber and HVAC contractor. One ...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    10 Reviews

    We don’t just want to be your solar installer we also want be your electrician, plumber and HVAC contractor. One ...
  • Absolute Solar
    Lansing, MI
    Established 2016
    Elite Installer
    We are committed to Michigan’s clean energy future. With one of our solar systems, you can drastically lower your...
    Elite Installer
    Screened & Verified
    5.0 /5.0
    8 Reviews

    We are committed to Michigan’s clean energy future. With one of our solar systems, you can drastically lower your...
  • Windfree Solar
    Multi-state
    Established 2009
    Elite Installer
    Windfree Solar is the answer if you are looking for solar expertise and individual care. We are the company that ...
    Elite Installer
    Screened & Verified
    4.5 /5.0
    28 Reviews

    Windfree Solar is the answer if you are looking for solar expertise and individual care. We are the company that ...

Solar is a major purchase, but you can get the price tag to come down a bit by being an educated shopper. Taking advantage of incentives and rebates and shopping around for quotes can bring down your cost of solar in Saginaw, MI.

Take advantage of federal and local solar incentives

As long as your federal tax bill is high enough, you can take advantage of the federal tax credit in Saginaw, MI. This incentive allows you to apply 30% of your solar installation and equipment costs toward your federal tax bill. If the amount exceeds your tax bill, you can roll over the remaining credit to the following year. Many states also offer great local incentives and rebates.

Get quotes from multiple installers

Comparing multiple solar quotes can save you money through competition and transparency. Each additional quote you receive for solar will help you find the right solar panel system at the right price.

This is where EnergySage can help. With funding from the Department of Energy’s SunShot Prize, EnergySage opened the country’s first (and now the largest) marketplace for home solar panel installations. We gather custom solar quotes from local installers on your behalf and put them in an easy-to-compare format. When you compare quotes for solar panels on the EnergySage Marketplace, you can expect to see prices up to 20% lower than if you work with a single solar company.

Why shop with EnergySage?

Save time & money

Request free quotes from vetted installers in minutes

Unbiased support

Our expert Energy Advisors will help you make the right decision

Trusted, local installers

We pre-screen and monitor all of our partners

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