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

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

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 Lyon solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 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 Lyon?

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 phrase "solar incentives" refers broadly to financial incentives implemented by the government and by solar companies to encourage the use of renewable energy by making installing and using solar panels more affordable. These incentives may include upfront discounts, cash back 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 utility company, county or municipality. Some broad categories of solar incentives include:

  • Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions allow you to ignore the value added by your solar system when you're calculating the amount of property tax you need to pay on your house.
  • Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
  • Rebates: Solar rebates may be provided by your local utility company, or by your state or county. These rebates are essentially partial refunds that are applied after your purchase of solar panels and before tax credits are calculated.
  • Net Metering: You may be able to sign a net metering agreement with your Lyon utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. They will then deduct this value from your monthly utility bill.

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 the first thing that you think of when thinking about solar incentives. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit that reduces your taxes by a predetermined percentage of the money you spend on solar panels for your home.

The ITC initially applied to 30% of the total cost of solar system installation, although it 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 equipment, accessories and labor. There is no maximum amount you can claim. The ITC applies to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.

Your local Lyon solar panel installer can provide more information about the ITC and how it might 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 lasts until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit. This amount will decrease slightly on a yearly basis until the end of the current program. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.

Click here to learn more about the new Inflation Reduction Act. Your local Lyon solar panel installation expert is the best person to answer your questions regarding the new Clean Energy Credit and how it may apply to you.

State & Local Solar Incentives

Federal solar incentives are not your only option; rebates, tax credits and more might also be offered at the state and local level. These incentives might be given out by the Michigan government, or by your county or municipality. Some incentives may be available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Lyon

There are a number of different solar incentives: those offered by the federal government, those given by the Michigan government and those given by local utility companies, to name a few. The use of solar energy has grown enormously in the last 15 years, partially due to these incentives. Call your local solar panel installation expert today to find out more information and to save the most money possible on solar panels for your Lyon home.

EcoWatch's Lyon, MI Solar Incentives FAQs

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

Once you add solar panels to your home in Lyon, you can expect to save approximately $813.30 per year, or about $15,452.67 over the next 20 years.

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

Solar energy is a renewable energy source — by switching where you get your energy, you can help lessen the strain on our planet's resources. Solar panels can also reduce the CO2 emissions from your home by 500 pounds yearly, or around 10,000 pounds in 20 years.

If I switch my appliances out for ones that can utilize solar energy, are there incentives I can claim?

The new Inflation Reduction Act creates a variety of new financial incentives for making eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.

Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?

Many solar incentives apply to a property located within the United States that you own, and most secondary residences fall into this category. There may be other solar incentives available for commercial properties, depending on the specifics. We recommend talking to your local solar installer and/or tax professional to best understand what incentives may apply to your specific situation.

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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