2024 Solar Incentives Guide for Grosse Pointe Park, MI - Tax Credits & Rebates

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

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 Grosse Pointe Park 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 Grosse Pointe Park?

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 encourage homeowners to make the switch to renewable energy by offering financial incentives meant to lower the burden of solar panel installation and use. The incentives may include cash back, upfront discounts or credit towards your monthly utility bill. Some incentives are given by the federal government, some by the state of Michigan and some by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:

  • Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar system. Property tax exemptions allow you to exclude the value that your solar panels add when you calculate how much property tax you need to pay on your home.
  • Net Metering: You can sign a net metering agreement with your Grosse Pointe Park utility company that will apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then deduct this value from your utility bill each month.
  • Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the federal government. (This is different from a tax deduction.)
  • Rebates: Rebates, or cash back after a purchase, are normally given prior to any solar tax credits being calculated. Rebates can be provided by your local utility company, by your county or by your state.

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 likely to be the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC provides you with a tax credit for a predetermined percentage of your solar system's cost.

The ITC applies to the value of solar panels installed on your primary or secondary residence in the United States. The solar system must have been installed after January 1, 2006, on a property you own for you to claim the credit. The ITC initially covered 30% of all system installation costs (panels, accessories, equipment and labor), although the amount has fluctuated slightly over the last few years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.

To better understand how the ITC will apply to you, speak to your local Grosse Pointe Park solar panel installation expert and request more information.

In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now dubbed the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. American homeowners can now receive a 30% credit for solar systems installed between 2022 and 2032. The total credit will then see a slight annual decrease until its expiration. The program expansion also makes it easier to get credit for energy storage systems, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit will apply to you, get in touch with your local Grosse Pointe Park solar installation company.

State & Local Solar Incentives

Rebates, tax credits and more can be claimed at multiple levels. On top of federal solar incentives, there are often state and local ones, too. These incentives might be distributed by your county or municipality, or by the Michigan government. Some incentives may be ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Grosse Pointe Park

Solar incentives can be offered by the Michigan government, the federal government or your local utility company. The large number of available incentives has contributed to a large increase in solar energy use in the last 15 years. When you're ready to make the switch to solar energy, calling your local Grosse Pointe Park solar panel installation expert is a great first step.

EcoWatch's Grosse Pointe Park, MI Solar Incentives FAQs

How can I learn if I qualify for different solar incentives?

It's best to speak with your local Grosse Pointe Park solar installer to get an understanding of which incentives your project will qualify for. Typically, solar incentives apply to new solar systems installed on a property you own (in the U.S.) between the dates specified by the incentive. Some incentives, like those provided by the Michigan government, may have additional requirements.

If I already have solar panels, can I still claim incentives?

Your best bet is to talk to a representative from the company that installed your system – or get in touch with a local Grosse Pointe Park solar installer — to clarify 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 systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

How much will solar panels save me annually on my electric bill in Grosse Pointe Park?

After adding solar panels to your home in Grosse Pointe Park, you can expect to save about $821.56 per year, or approximately $15,609.63 over the next 20 years.

Who installs solar panels near me?

To find a top-rated solar panel installer, check out our guide to the top solar companies in Grosse Pointe Park.

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

The order that incentives will be applied in could vary depending on which incentives you are claiming but usually yes, you can claim multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to ensure you are claiming all the incentives you qualify for and applying them in the correct order.

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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