2024 Solar Incentives Guide for Bloomfield, MI - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Bloomfield.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Bloomfield solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Bloomfield?

Michigan Saves - Home Energy Loan Program

Incentive Type:
Loan Program
$30,000

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


The term "solar incentives" refers to financial incentives put in place by solar companies and the government to encourage the adoption and use renewable energy by making the installation and use of solar panels more affordable. Incentives may include things like discounts, cash back or credit on your utility bill each month. Some incentives are offered by the federal government, while others are offered by the state of Michigan or your specific utility company, county or municipality. Some solar incentives you might qualify for are:

  • Tax Credits: Tax credits reduce, dollar-for-dollar, the amount of income tax you owe the federal government. Tax credits are different from tax deductions.
  • Tax Exemptions: Your solar panel system might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions allow you to ignore the added value of the solar panels when you are calculating property taxes on your home.
  • Net Metering: Net metering is an incentive you can get after your solar panels are up and running. If you've signed a net metering agreement with your Bloomfield utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some areas, this is a dollar-for-dollar credit, while in other places you may make back a percentage of the value.
  • Rebates: Solar rebates may be provided by your local utility company, or by your county or state. These rebates are essentially partial refunds that are applied after you purchase solar panels and before tax credits are calculated.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Solar Veteran

Michigan Solar Solutions

★★★★★
4.5

  • Great warranty coverage
  • Outstanding customer service
  • Offers products from leading manufacturers
  • Slightly limited service offerings
  • No leases or PPAs

Outstanding Local Installer

Strawberry Solar

★★★★★
4.5

  • Outstanding customer service
  • Representatives are experts on local policies
  • Educational, no-pressure sales approach
  • Limited warranty coverage
  • No leases or PPAs
  • Limited brands of solar equipment available

Federal Solar Incentives

Federal solar incentives are probably the first thing that you think of when you think about solar incentives. You may have heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend installing solar panels.

The ITC originally covered 30% of the cost of solar panel installation, although that number has fluctuated slightly over the last few years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of accessories, labor and equipment. There is no maximum claim amount. The ITC can be applied to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.

Contacting your local Bloomfield solar panel installer is the best way to understand how the ITC may apply to your situation.

The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit re-raises the credit up to 30% for solar installation projects started after January 1, 2022, and completed by the end of 2032. After this, the percentage will be reduced slightly each year until the program expires in 2035. The expansion also makes it easier to get credit for energy storage systems, starting in 2023.

Click here to learn more about the new Inflation Reduction Act. Your local Bloomfield solar panel installers are the best people to answer your questions about the new Clean Energy Credit and how it applies to you.

State & Local Solar Incentives

There are often state solar incentives available in addition to federal ones. Tax credits, rebates and more can be offered at a more local level. Incentives may be provided by your county or municipality, or by the state of Michigan. Certain incentives are available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Bloomfield

Solar incentives may be provided by the federal government, the Michigan government or your local utility company. The growing number of available solar incentives has helped nationwide use of solar energy increase greatly in the last 15 years. Speaking with your local Bloomfield solar panel installation expert is the best first step towards making sure you get all the incentives you qualify for when you switch to solar energy.

EcoWatch's Bloomfield, MI Solar Incentives FAQs

How much will solar panels save me annually on my electric bill in Bloomfield?

After adding solar panels to your house in Bloomfield, you can anticipate savings of around $813.30 per year, or approximately $15,452.67 over the next 20 years.

Who installs solar panel systems near me?

To find the right solar panel installer for you, check out our guide to the top solar companies in Bloomfield.

If I trade in my appliances for ones that utilize solar energy, are there any incentives that I can claim?

The new Inflation Reduction Act provides a number of incentives that reward homeowners for making eco-friendly upgrades. Some incentives include rebates and tax credits for installing new electric appliances. You can find more details about these incentives here.

Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?

Yes, you can receive both tax credits and rebates towards the cost of your solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Be sure to speak with your solar installer or a local tax professional to confirm that you are claiming incentives correctly and getting the most money possible.

Can I use multiple types of renewable energy to power my home?

Yes, you can use multiple types of renewable energy to power your home, such as a combination of geothermal and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. Make sure that you discuss your proposed plan with your local Bloomfield solar installation expert, to get an understanding of what will be needed and what kinds of incentives you may or may not qualify for.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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