Clean energy is heavily populating the state of Michigan. As of 2020, Michigan has 208.30MW of solar installed, enough to power 32,211 homes. This trend can be attributed to these 3 conditions:
- Michigan residents pay extremely high electricity bills
- Overall, solar power is gaining visibility and capturing the interest of people wanting to make a difference for the environment
- Financial incentives are making the transition easier
The following financial incentives are helping Michigan residents and businesses step into solar:
- The Solar Investment Tax Credit (Solar ITC)
- Michigan Saves
What Is the Michigan Saves Program?
Michigan Saves is a financial lending program for residential homeowners and commercial businesses looking to upgrade their property to become more energy efficient.
Upgrades such as new EnergyStar compliant roofing, insulation, appliances (low-flow toilets and dishwashers) and windows are all covered under Michigan Saves loans. How Does it Work?
Michigan Saves for Residential Solar
Homeowners looking to increase energy efficiency and sustainability can first get set up with a Michigan Saves contractor, like Solar Solutions of America, who will provide an estimate on qualifying home improvements. Residents can then apply for financing for solar and other energy efficiency updates totaling up to $50,000 with a 15-year maturity. Michigan Saves will match you with a local Credit Union that has joined a long list of financial institutions looking to help homeowners increase the energy efficiency of their homes and join the efforts to reduce CO2 emissions.
Michigan Saves for Commercial Solar
Similar to residential lending, businesses and organizations can work with a Michigan Saves contractor to finance their sustainability efforts, including HVAC, EV charging stations, renewable energy and more.
Commercial customers have 7-12 years to pay with interest rates from 6.5%-8%, and can receive up to $2 million in financing.
Solar Solutions of America Financing with Michigan Saves
Our goal at Solar Solutions of America is to make the process of going solar easy financially, which is why we help our customers finance such crucial clean energy efforts. We are an expert Michigan Saves financing contractor.
Michigan Saves pre-approval with SSA is simple and fast!
If you or another business is interested in having an undeniable impact on your triple bottom line give us a call for a free consultation to see if solar is right for you! Call (248) 805-1244 or request a Free Online Solar Analysis for You. Have a comment? Let us hear from you!