Solar Power Incentives In Michigan

Following the national extension of the solar investment tax credit itc through 2021 it has never been a better time to go solar.

Solar power incentives in michigan.

Michigan is lacking in terms of rebates and tax credits for solar power but the 30 federal tax credit compensates this. The consensus on michigan solar power rebates and incentives michigan has a chance to be a great state for home solar power but without net metering it just can t be. Cherryland electric cooperative and traverse city light power initiators of michigan s first community solar project have found that many of their. Thanks to net metering and the federal tax credit homeowners who switch to this form of renewable energy save big on their electricity bills and drastically reduce their carbon footprint.

Combined heat and power systems can only receive the full credit if the system has an electrical capacity of 15 mw or less and a mechanical energy capacity of of 20 000 horsepower or less or an equivalent combination of electrical and. Michigan has lots of sunshine and laws that are favorable for solar power and renewable energy. See all our solar incentives by state. Community solar can be an attractive option for utilities to diversify their electric generation mix and provide a popular investment option for their members or customers.

Michigan solar power overview. The main incentive for going solar in michigan is the state s favorable net metering policy which requires utilities to give you full credit for any surplus energy your pv system produces. The majority of michigan s electricity comes from coal fired plants and nuclear power. Despite there being little in terms of state based incentives investing in solar in michigan can still be profitable.

The great lakes state receives an average of 4 peak sun hours per day though improving solar technology and beneficial tax credits continue to make solar a viable option for homeowners in. Federal investment tax credit. Maybe the lawmakers in lansing will come to their senses soon and get net metering back as the law of the land but until then we d recommend extreme caution before. In addition the federal government offers a 30 tax credit for the whole installed cost of your system that s a huge benefit available to you no matter where you live in the us.

This awesome credit cuts the cost of your overall solar installation by 26 percent making solar pv a more affordable and appealing energy source than fossil fuels. Here are some of the top solar energy incentives and rebates currently available in michigan. Michigan ranks thirty second in the nation for solar capacity but installations were up by 33 in 2014. Michigan also has substantial natural gas reserves and this fossil fuel accounts for more energy usage than any other single source.

With the solar investment tax credit you can reclaim about 26 percent of the purchase and installation cost of your solar power system as a federal tax credit.