Overview

Residential Solar Incentives 

30% Federal Tax Credit

Utility Company Solar Incentives:  Net-Metering Regardless of What Electricity Provider You Have!

Commercial Solar Incentives

 30%  Federal Tax Credit

Accelerated Depreciation – fully depreciated over 5 years

Utility Company Solar Incentives:  Net-Metering Regardless of What Electricity Provider You Have!

Marketing Value: People spend their money more freely with companies that are aligned philosophically with themselves

Federal Tax Credit

In order to foster the growth of solar, government at the State and Federal levels provide financial incentives.  At the Federal level, the U.S. government currently offers the 30% Investment Tax Credit (ITC) for residential and commercial solar, with no cap on the value.  This is a CREDIT, not a deduction.  Therefore, it directly impacts the customer’s bottom line Net Cost of the system.

The tax credit is applied for on IRS Form 5695 on the taxes for the year solar was installed.   If a customer is not able to realize 100% of the tax credit for the year they filed their taxes, they may use the remaining credit the following year.  Any tax credit not realized by the 2nd year will be lost.

 

 

Utility Company Solar Incentives

The State of Michigan laws require the electric companies to offer their customers Net Metering.  Each electric company has different net metering options.  If you are considering solar, Michigan Solar Solutions can help you to understand the Net Metering options offered by your electric company and how they positively impact your solar potential.


Contact Michigan Solar Services
 if you have questions about incentives for solar.