2024 Solar Incentives Guide for Cooper, MI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Cooper.
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.
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What Solar Tax Credits, Incentives, and Rebates are Available in Cooper?
Michigan Saves - Home Energy Loan Program
Great Lakes Energy - Residential Energy Efficiency Rebate Program
Geothermal Heat Pumps: $500
Energy Optimization (Electric) - Residential Efficiency Program
Refrigerator: $50
Chest Freezer: $50
Window Air Conditioners: $15
Dehumidifier: $15
HVAC
WiFi Thermostat: $75
ECM Blower Motor: $200
Central Air Conditioning: 150 - $500
Central Air-Source Heat Pump: $250 - $500
Mini/Multi-Split Air-Source Heat Pump: $250 - $750
HVAC Combo Bonus: $100 bonus
Smart HVAC Combo Bonus: $150 bonus
Tune-Up Central Air Conditioner or Air-Sourse Heat Pump: $50
Ground-Source Heat Pump: $500 - $750
Efficient Circulation Pump: $100
Heat Pump Water Heater: $500
Pool Pump: $250
Pipe Wrap Insulation: $0.80/ft. ($8 max)
ENERGY STAR Products
LED Bulbs: In-store savings vary by retailer
LED Downlight Kits: In-store savings vary by retailer
Outdoor LED Fixtures: $5
Ceiling Fan: $10
Advanced Power Strip: $5
Room Air Conditioner: $10
Air Purifier: $10
Dehumidifier: $15
Clothes Washer: $20
Refrigerator: $20
Chest Freezer or Upright Freezer: $15
Television: $10 - $20
Personal Computer: $10
Occupancy Sensor: $5
Wifi-Enabled Thermostat: $75
Income Qualified Services
Free Product Kit: May include energy-saving items, such as LED lights and a smart power strip
Consumers Energy (Electric) - Residential Energy Efficiency Program
Washing Machine: $25 - $50
WiFi Enabled Thermostat: $50 - $100
Room Air Conditioner: $20
Dehumidifier: $20
Pool Pump: $350
Refrigetor/Freezer Recyclilng: $50
Room Air Conditioner/Dehumidifier Recycling: $15
Heating & Cooling
Split System Central AC: $50 - $500
Air Source Heat Pump: $150 - $250
Ground Source Heat Pump: $200 - $300
Ductless Mini-Split Heat Pump: $350
ECM Motor: $50
Thermostat: $10 - $100
Central AC Tune-Up: $50
Windows & Insulation
Roof Insulation: $50 - $200
Wall Insulation: $50 - $125
Crawlspace Insulation: $10 - $50
Rim Joist Insulation: $20 - $50
Window Replacement: $15/window
Patio Door Replacement: $40/door
Lighting
Varies
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" generally refers to financial incentives implemented by the government and by solar companies to encourage people to use renewable energy by making solar panels more affordable. Various kinds of incentives, including cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be offered by the Michigan government, by your utility company or by county or municipality, while other incentives are federal. You might qualify for any of the following types of solar incentives:
- Tax Credits: Tax credits decrease, dollar-for-dollar, the amount of income tax you owe the government. These differ from tax deductions.
- Tax Exemptions: Your solar panel system may qualify for both sales tax and property tax exemptions. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to exclude the value added by your solar panels when you are calculating property taxes on your house.
- Net Metering: Net metering becomes relevant after your solar panels are up and running. If you have in place a net metering agreement with your Cooper utility company, the company will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other places you may receive a refund equivalent to a percentage of the value.
- Rebates: A rebate is a partial refund after the purchase of your solar system. Rebates may be offered by your local utility company, your state or your county. The rebates are usually applied before tax credits are calculated.
Solar Veteran
Michigan Solar Solutions
- Great warranty coverage
- Outstanding customer service
- Offers products from leading manufacturers
- Slightly limited service offerings
- No leases or PPAs
Outstanding Local Installer
Strawberry Solar
- 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
Outstanding Local Installer
The Green Panel
- Outstanding customer service
- Excellent reputation
- Great warranty coverage
- No leases or PPAs
Federal Solar Incentives
Federal solar incentives are likely the first thing that comes to mind when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is the best-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of the cost of your solar system.
The ITC can be applied to the total cost of installing solar panels, including the panels themselves as well as accessories, equipment and labor. You can claim this credit for panels installed after January 1, 2006, on a primary or secondary residence that you own, as long as it is located in the United States. From its original value of 30% of the total cost, the credit has fluctuated slightly between 26-30%, and you may qualify for varying percentages depending on when your project was completed. There is no maximum amount you can claim.
Speaking with your local Cooper solar panel installation expert is the best way to learn more about how the ITC could apply to your situation.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now titled the Clean Energy Credit. Now, solar installation projects that are completed between 2022 and 2032, can qualify for a 30% tax credit. This percentage will then decrease slightly each year until the current Clean Energy Credit expires in 2035. The program expansion also makes claiming credit for energy storage systems easier than ever before, starting in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Cooper solar panel installers are the best people to answer your questions regarding the new Clean Energy Credit and how it applies to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. As with federal incentives, these could include rebates, tax credits and more. These incentives might be handled by your county or municipality, or by the Michigan government. Certain incentives are available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Cooper
There are a variety of solar incentives: those given by the federal government, those given by the Michigan government and those offered by local utility companies, to name a few. The use of solar energy has grown tremendously in the last 15 years, thanks to these incentives. Call your local solar panel installation expert today to find out more information and to save as much money as possible on solar panels for your Cooper home.
EcoWatch's Cooper, MI Solar Incentives FAQs
My home already has solar panels installed. Are there any incentives that I qualify for?
An excellent idea would be to talk to someone from the company that installed your solar system – or get in touch with a local Cooper solar installer — to better understand which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are the environmental benefits of switching to solar?
Solar energy is renewable — by changing where you get your energy, you help reduce the strain on our planet's resources. A solar system can also reduce the CO2 emissions from your home by 500 pounds yearly, or around 10,000 pounds over 20 years.
How long until the federal solar tax credit ends?
The federal solar tax credit, formerly known as the ITC and now named the Clean Energy Credit, is scheduled to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I use solar and another type of renewable energy in combination to power my home?
Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of wind and solar. You can also use both renewable energy sources and a non-renewable backup source of energy. Make sure that you discuss the details of your plan with your local Cooper solar installation expert, so that you understand what you'll need and what types of incentives you may or may not qualify for.
What if I want to add solar panels to a rental property, vacation home or commercial property? Can I still qualify for incentives?
While we recommend getting in touch with your local solar installer and/or tax professional to better understand what solar incentives apply to you, many incentives will apply to a second home, as long as it is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the specifics.
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.