Want to lead Michigan's transition to solar energy?
Since the early 1900s, Michigan has been at the center of American design and innovation. State leadership clearly recognized the many opportunities associated with renewable energy years ago, as legislators set a 10% Renewable Portfolio Standard to be met by the end of 2015. While new legislation has not been put in place yet, it's realistic that Michigan's RPS will continue to rise as the state's commitment to providing a cleaner and greener environment for its citizens to live in is apparent.
Solar energy provides a solution to mitigate the effects of climate change while saving homeowners money – helping both wolverines and Wolverines (and Spartans!) along the way. Don't be fooled by Michigan's cool temperatures and abundant snow. Our customers have found more than enough sun in Michigan to save money, gain independence from utility companies, and to cheaply power their electric vehicles.
Help keep Michigan healthy and clean!
Home Solar in Michigan Is More Affordable than Ever Before
- Federal Tax credit may be available
- Sell Your Extra Production with Net Metering
How Going Solar in Michigan Works
Step 1: Sign up online
Step 2: Talk to a solar specialist
Step 3: Check out your custom design
Step 4: Relax during installation
Step 5: Watch your savings grow
Michigan is a great state to go solar and maximize your savings. Aside from saving money on your electric bill, there are two other key incentives that help solar ownership in Michigan make sense: 1) the 26% federal tax credit and 2) Net metering.
First, the federal government offers a 26% tax credit which is available in all 50 states. This credit is applied to the federal taxes you pay each year, thereby lowering the net cost of your solar system, and has been extended to last until at least 2020. This credit is a great benefit of going solar: money that you would otherwise pay in taxes can now be used to own your solar system sooner. It is important to note that you can only reap the benefits of the federal tax credit* – which can cover up to 26% of your system's cost – if you own your system directly (instead of leasing it or choosing a Power Purchase Agreement). With the Dividend Finance EmpowerLoan, you own your system and you get all of the economic benefits of going solar in Michigan.
Finally, like many other states, Michigan utilities have Net Metering policies which allow homeowners to be credited for extra energy fed back to the power grid. If designed optimally, a homeowner can expect to offset 100% of their current electricity use while also having some left over to sell back to the grid.
*Dividend Finance does not provide tax or legal advice. Please consult your tax advisor for more information.
The combination of the 26% Federal Tax Credit and the ability to offset the cost of electricity from your utility company make going solar in Michigan a great decision, like going for 2 in the Big House or attending Midnight Madness in East Lansing.
When you begin to generate your own solar power, your utility bill can drop significantly. How much you can save will depend on the size of your solar system, your electricity usage, your current utility rates, and other factors. Our team and partners can design a system for you using remote assessment tools, and can present you with a system designed specifically for your home to give you a sense of your expected solar savings.
Working with the best solar installers in Michigan, Dividend Finance offers its customers a better, simpler way to go solar and reduce their utility bills.