Solar Power Incentives In Michigan

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.

Solar power incentives in michigan.

Michigan solar power overview. All of michigan can take advantage of the 26 federal tax. Here are some of the top solar energy incentives and rebates currently available in michigan. 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.

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

See all our solar incentives by state. Michigan also has substantial natural gas reserves and this fossil fuel accounts for more energy usage than any other single source. The majority of michigan s electricity comes from coal fired plants and nuclear power. Michigan has lots of sunshine and laws that are favorable for solar power and renewable energy.

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. Michigan ranks thirty second in the nation for solar capacity but installations were up by 33 in 2014. 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. Michigan is lacking in terms of rebates and tax credits for solar power but the 30 federal tax credit compensates this.

Michigan solar tax credits and incentive programs the federal investment tax credit. 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. 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. Aside from the power output of the solar equipment you choose to install the amount of energy you generate with solar panels in michigan is directly related to the amount of sunlight that hits your panels.

Despite there being little in terms of state based incentives investing in solar in michigan can still be profitable.