Is $46,700 to install an 8.1kW solar system with a 10kW battery via a PPA a fair price?
Project Details
I am in Michigan, where the local utility rate is about $0.20/kWh and has been increasing by about 3% per year. I have a 2.5% mortgage on my house built in 2018, so I am not planning on moving. I was unimpressed with other quotes due to their high battery costs. There is no net metering in Michigan anymore; the utility pays for exported electricity based on the time of day. The strategy with the battery is to charge it at night during off-peak rates and in the morning with solar, then sell all extra solar and discharge the battery during peak rates. I also have a Tesla Model 3 that charges every few nights, utilizing the cheap off-peak rate. I am currently working on canceling this PPA. After running more numbers, I realized that the "savings" quoted largely depend on the assumption that utility rates will rise higher than the PPA escalator, which is likely but not guaranteed.
Quote Details
This quote is for a 25-year Power Purchase Agreement (PPA) to install an 8.1 kW solar system with a 10 kW battery. The PPA starts at $0.155/kWh with a 2.99% annual escalator. The system is designed to cover approximately 80% of my home's energy usage. - PPA Term: 25 years - Initial PPA Rate: $0.155/kWh - Annual Escalator: 2.99% - Solar System Size: 8.1 kW - Battery System: SolarEdge 10 kW battery - Usage Coverage: Approximately 80% of home usage - Battery Functionality: Primarily for selling power back at higher prices, with backup capability during storms - Buyout Option: Available starting in year 5 for $33,500 - Total Cost with Buyout: $46,700 (includes system cost and PPA payments until buyout) - Estimated Monthly Savings: About $75/month (including some utility usage)
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More Details
Category
Solar
Price
$46,700
Quote Date
June 13, 2025
Location
Michigan
Year Built
2018
Battery Storage?
No
System Size (kW)
8.1
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