Michigan Solar Incentives 2017

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Michigan solar incentives 2017.

The watervliet solar power plant was completed in 2016. Thanks to accelerated depreciation businesses can write off the value of their solar energy system through the modified accelerated cost recovery system macrs which reduces businesses tax burden and accelerates returns on solar investments qualified solar energy equipment is eligible for a cost recovery period of five years. Several large retailers in michigan have gone solar including ford general motors and ikea. There may still be other local rebates from your city county or utility.

The majority of michigan s electricity comes from coal fired plants and nuclear power. Other incentives for solar accelerated depreciation. Notable solar installations in michigan. Michigan has lots of sunshine and laws that are favorable for solar power and renewable energy.

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. All of michigan can take advantage of the 26 federal tax credit which will allow you to recoup 26 of your equipment and installation costs for an unlimited amount. The change fueled a 93 percent plunge in growth for the state s solar industry according to the indianapolis star. Michigan also has substantial natural gas reserves and this fossil fuel accounts for more energy usage than any other single source.

Michigan ranks thirty second in the nation for solar capacity but installations were up by 33 in 2014. That includes indiana whose legislature replaced metering in 2017 with a program lowering compensation to solar owners. But michigan is among several states rethinking compensation for rooftop solar. Here are some of the top solar energy incentives and rebates currently available in michigan.

This photovoltaic project has the capacity to generate 4 6 mw of electricity enough to power over 692 michigan homes. 02 13 2017 at 5 49 pm. Michigan is a grid parity state making solar power cheaper than the residential utility rates. A guidebook for community solar programs in michigan communities this report is intended to help guide michigan groups through the web of rules and regulations specific to community solar in michigan and provide up front information to enthusiasts community groups and developers on how to.

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. Especially when used in combination with the 30 federal solar tax credit the incentives listed below can significantly reduce the cost of installation of solar panels for your home or business.