Michigan Solar Incentives 2019

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 solar incentives 2019.

States for solar irradiance michigan mostly lies farther south than germany where solar power is heavily deployed. There are two tax credits you need to be aware of when switching to solar. 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. However michiganders can still take advantage of the federal solar tax credit which is worth 30 percent of the total cost of the solar energy system.

More than 3 400 customers signed up for net metering through 2017 up from more than 2 100 two years earlier according to the commission s most recent figures. The value of the credit for wind steps down in 2017 2018 and 2019. As of september 2020 the average solar panel cost in michigan is 3 17 w given a solar panel system size of 5 kilowatts kw an average solar installation in michigan ranges in cost from 13 472 to 18 228 with the average gross price for solar in michigan coming in at 15 850 after accounting for the 26 federal investment tax credit itc and other state and local solar incentives the. For all other technologies the credit is not available for systems whose construction commenced after december 31 2017.

Michigan also has substantial natural gas reserves and this fossil fuel accounts for more energy usage than any other single source. Following the national extension of the solar investment tax credit itc through 2021 it has never been a better time to go solar. Michigan solar tax credits and incentive programs the federal investment tax credit. Currently michigan doesn t offer much in terms of solar incentives.

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. See all our solar incentives by state. Solar power in michigan has been growing in recent years due to new technological improvements falling solar prices and a variety of regulatory actions and financial incentives particularly a 30 federal tax credit available for any size project. 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.

Although among the lowest u s. All of michigan can take advantage of the 26. The decision upends the economics of rooftop solar as michiganders are increasingly generating their own power. See below for more information.

The majority of michigan s electricity comes from coal fired plants and nuclear power. Michigan ranks thirty second in the nation for solar capacity but installations were up by 33 in 2014. Michigan has a chance to be a great state for home solar power but without net metering it just can t be. Michigan has lots of sunshine and laws that are favorable for solar power and renewable energy.