2024 Solar Incentives Guide for Mount Pleasant, MI - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Mount Pleasant.
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 Mount Pleasant solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in Mount Pleasant?
Michigan Saves - Home Energy Loan Program
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 are intended to encourage people to switch their home over to renewable energy by providing incentives meant to lower the financial burden of solar panel installation and use. You may qualify for several types of incentives, including discounts, cash back or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Michigan and others from the federal government. Types of solar incentives might include:
- Net Metering: You can sign a net metering contract with your Mount Pleasant 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 monthly utility bill.
- Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (This is different from a tax deduction.)
- Rebates: Solar rebates might be offered by your local utility company, or by your county or state. These rebates work as partial refunds that are applied after your purchase of solar panels and before tax credits are calculated.
- Tax Exemptions: These may come in the form of property tax exemptions, which allow you to ignore the value of your solar system when paying property tax on your house. You could also look for exemptions on sales tax at the time of purchase.
Federal Solar Incentives
Federal incentives are the type of incentives that you are most likely to have heard of. The Federal Solar Investment Tax Credit, or ITC, is the most commonly known federal solar incentive. The ITC provides you with a tax credit for a predetermined percentage of the cost of your solar system.
The ITC applies towards solar systems installed after January 1, 2006, and under this program you can deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. The original claim amount was 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum amount you can claim.
To best understand how the ITC will apply to you, speak to your local Mount Pleasant solar panel installer and ask for more information.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The new Clean Energy Credit now runs until 2035. You are now eligible for a 30% credit for solar systems installed between 2022 and 2032. This credit will then see a slight annual decrease until the date of expiration. The expansion to the program also makes credits for energy storage systems even easier to claim, starting in 2023.
More information about the new Inflation Reduction Act can be found here. To understand how the new Clean Energy Credit might apply to you, get in touch with your local Mount Pleasant solar installers.
State & Local Solar Incentives
Some solar incentives are often also offered at the local or state level. Similar to federal incentives, these might include rebates, tax credits and more. Some incentives are ongoing, while others are offered for only a limited time. Local solar incentives may come from the Michigan government, or from your specific county or municipality.
Next Steps for Installing Solar in Mount Pleasant
The variety of available solar incentives has contributed greatly to the increase in the adoption of solar energy nationwide over the last 15 years. You may receive solar incentives from the Michigan government, the federal government or your local utility company. Getting in touch with your local Mount Pleasant solar panel installation company is the best first step towards getting the most money possible when you switch to solar energy.
EcoWatch's Mount Pleasant, MI Solar Incentives FAQs
How do I know if I qualify for specific solar incentives?
It's best to speak with your local Mount Pleasant solar installer to get an understanding of which incentives your project will qualify for. Usually, 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, such as those provided by the Michigan government, might have additional requirements.
Who installs solar panel systems near me?
To find a top-rated solar panel installer, check out our guide to Mount Pleasant's top solar panel companies.
How long until the federal solar tax credit ends?
The federal solar tax credit, previously called the ITC and now called the Clean Energy Credit, is slated to end 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 qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?
Yes, you can receive both tax credits and rebates towards the cost of solar panels. Depending on precisely which incentives you are eligible for, they may apply in a different order. Make sure that you talk to your solar installer or a local tax professional to ensure that you are claiming the correct incentives and that you're getting the most money possible.
Can I use solar and another type of renewable energy in combination to power my home?
Yes, you can employ multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also use both renewable energy sources and a backup source of non-renewable energy. You should discuss your plan with your local Mount Pleasant solar installation expert, so that you understand what you'll need and what kinds of incentives you will or won't qualify for.
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.