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

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

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 Flat Rock 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

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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 Flat Rock?

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/


Solar incentives are meant to encourage people to switch their home over to renewable energy by offering financial incentives that lower the burden of solar panel installation and use. Different kinds of incentives, including cash back, discounts or monthly utility bill credits, may be available to you. Certain incentives may be handled by the state of Michigan, by your utility company or by county or municipality, while other incentives are federal. Categories of solar incentives include:

  • Tax Credits: Different from tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the government.
  • Net Metering: Net metering factors in after your solar panels are up and running. If you've signed a net metering agreement with your Flat Rock utility company, it will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in other places you might get refunded a percentage of the value.
  • Tax Exemptions: These might come in the form of property tax exemptions, which would allow you to ignore the value added by your solar panels when paying taxes on your house. You could also look for exemptions on sales tax at the time of purchase.
  • Rebates: Rebates, or cash back after a purchase, are typically applied before any solar tax credits are calculated. These rebates may be offered by your local utility company, by your state or by your county.

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 incentives are the type of incentives that you are most likely to have some familiarity with. You may have heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a certain percentage of the money you spend on your solar system.

The ITC applies to the total cost of installing solar panels, including the panels themselves as well as accessories, labor and equipment. This credit can be claimed 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.

Contacting your local Flat Rock solar panel installation expert is the best way to learn more about how the ITC may apply to you.

The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as retitling it the Clean Energy Credit). The Clean Energy Credit is valid until 2035. Any solar installation project that is completed between January 1, 2022, and December 31, 2032, may qualify for a 30% tax credit; the amount will then decrease slightly on a yearly basis until the current program ends. Starting in 2023, the expansion will also make claiming credit for energy storage systems easier than ever before.

Click here to learn more about the new Inflation Reduction Act. The best way to learn more about how the new Clean Energy Credit might apply to you is to speak with your local Flat Rock solar panel installers directly.

State & Local Solar Incentives

Federal solar incentives are not your only option; rebates, tax credits and more may be offered at the local or state level. Some incentives are offered for only a limited time, while others are ongoing. Your local incentives could come from your county or municipality, or from the Michigan government.

Next Steps for Installing Solar in Flat Rock

Solar energy use nationwide has gone up tremendously in the last 15 years, in part due to the increase in availability of solar incentives. You might receive these incentives from the federal government, the Michigan government or your local utility company. If you're prepared to switch over to solar energy, talking to your local Flat Rock solar panel installation expert is a great first step.

EcoWatch's Flat Rock, MI Solar Incentives FAQs

How much can I save annually on my electric bill if I add solar panels to my Flat Rock home?

On average, homeowners in Flat Rock who install solar panels save approximately $828.98 per year, or around $15,750.63 over 20 years after they make the switch.

What are some of the environmental benefits of switching to solar?

You can reduce your carbon footprint by 500 pounds of CO2 a year when you switch to solar panels. This adds up to approximately 10,000 pounds over 20 years. In addition, solar power is a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.

How long until the federal solar tax credit ends?

The Clean Energy Credit (formerly named the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

I want to trade in my old appliances for ones that are more energy-efficient. Are there any benefits I can claim?

The new Inflation Reduction Act introduces several incentives meant to reward homeowners who make eco-friendly upgrades. Some of these incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.

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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