2024 Solar Incentives Guide for Gaines, MI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Gaines.
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 Gaines?
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/
Solar incentives 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 types of incentives, like discounts, cash back or credit towards your monthly utility bill, might be available to you. Certain incentives may be provided via the state of Michigan, by your utility company or by county or municipality, while other incentives are federal. Some broad categories of solar incentives include:
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the federal government.
- Rebates: A rebate is a partial refund after the purchase of your solar panels. These might be offered by your local utility company, your county or your state. The discount that rebates offer is normally applied to the price of solar panels before calculating tax credits.
- Net Metering: Net metering factors in once your solar system is up and running. If you've signed a net metering agreement with your Gaines utility company, the company will subtract the value of the excess energy produced by your solar system from your utility bill each month. In some locations, this is a dollar-for-dollar credit, while in other places you may receive a refund equivalent to a percentage of the value.
- Tax Exemptions: Your solar system could qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you exclude the value added by your solar panels when calculating property taxes on your home.
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 you think of when thinking about solar incentives. One of the incentives many people are likely familiar with is the Federal Solar Investment Tax Credit (ITC). The ITC is a tax credit for a given percentage of the cost of your solar system.
The ITC can be applied to solar systems installed after January 1, 2006, on a primary or secondary residence in the United States that you own. Initially, the credit applied to 30% of the total cost – for panels, equipment, labor and accessories – although that amount may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.
Reaching out to your local Gaines solar panel installation expert is the best way to understand how the ITC may apply to your situation.
In August 2022, the Inflation Reduction Act made revisions to the ITC, now titled the Clean Energy Credit. The Clean Energy Credit re-raises the credit up to 30% for solar installations undertaken between January 1, 2022, and December 31, 2032. After 2032, the percentage will be reduced slightly each year until the end of the program in 2035. Beginning in 2023, it will also be easier to claim credits for energy storage systems with the new act.
Click here to learn more about the new Inflation Reduction Act. Your local Gaines solar panel company can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
Tax credits, rebates and more can be claimed at multiple levels. In addition to federal solar incentives, there are often state and local ones, too. Incentives may be handled by the state of Michigan, or by your county or municipality. Some incentives might only be available for a limited time, while others are ongoing.
Next Steps for Installing Solar in Gaines
There are many types of solar incentives: those given by local utility companies, those provided by the federal government and those given by the Michigan government, to name a few. The use of solar energy has increased enormously in the last 15 years, partially due to these incentives. We recommend talking to your local Gaines solar installation expert for more information about these incentives and to make sure that you're getting the most money possible for your solar system.
EcoWatch's Gaines, MI Solar Incentives FAQs
How do I learn if I qualify for solar incentives?
It's best to speak with your local Gaines solar installer for a better understanding of which incentives your project may qualify for. In most cases, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) between the dates specified by the incentive. Some incentives, like those given by the state of Michigan, might have other requirements.
I already have solar panels. Do I qualify for any incentives?
If your solar system was installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Speaking with the company that installed your system, or any local Gaines solar installer, can help you understand what incentives you can apply for.
Who installs solar panel systems near me?
To find the top solar panel installation companies near you, take a look at our article on the best solar companies in Gaines.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you can help reduce the strain on our planet's resources. You can also lower your home's CO2 emissions by 500 pounds a year, or roughly 10,000 pounds over 20 years.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly named the federal solar tax credit, or the ITC), currently ends on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
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.