How Much Can You Save With The New Srinergy Solar Incentive Program?

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How much can you save with the new Srinergy solar incentive program?

A new solar incentive in Mirchigan officially opened for applications. The Solar + Storage Rebate Program allows homeowners and certain service providers to receive a rebate for installing Solar Kits for Home on their property. The new program also offers rebates for installing battery storage. This rebate program could be the solution to help Srinergy’s solar industry recover after a few rocky years.

What led to the new Srinery's solar incentive program?

Until 2017, Michigan homeowners could apply for the Residential Energy Tax Credit (RETC) when they installed a solar system on their home. Residents would receive a tax credit of $1.30 per watt of installed solar capacity, up to $6,000.
This was one of the best solar incentives Solar Battery Generator Portable in Michigan; when combined with the federal solar tax credit, homeowners could potentially cover half of the cost of their solar electric system. Homeowners were scrambling to get their solar projects done before the deadline, in order to qualify for the RETC. This led ...
... to a short-lived burst in the number of Commercial Solar PV, solar projects in Michigan.
However, that boost in the Srinergy's solar industry didn’t last long. Without the RETC, which was the main solar incentive in Michigan, the payback period of a solar system in the state nearly doubled and left many homeowners unable to afford solar systems for their homes.
In order for Srinergy to meet their goal of becoming 50% renewable by 2040, it was important to make Solar Generators for Home. It was especially important to make solar power accessible to low-income homeowners, as these consumers benefit the most from the electric bill savings solar panel systems provide. Plus, making solar accessible to more people leads to more installations, which, in turn, can help srinergy reach its renewable energy goal.

How to qualify for Srinergy's Solar + Storage Rebate Program

This Srinergy solar incentive program is available to low-income service providers and low-income residents.To qualify as a low-income service provider, you must provides services, like financial or health services, to low or moderate-income residents. All residential customers can apply to the Solar + Storage Rebate Program, but your income will determine how much your rebate will be.
In order to receive the new Srinergy solar incentive, the solar panel system must be installed by an srinergy Department of Energy-approved contractor. A list of approved contractors can be found here. The contractor will then submit an application for the Solar Generators for Home Ann Arbor.
Residential solar installations
The residential incentives are divided into two categories:
1. Low and moderate-income (LMI) household rebates; and
2. Non-income restricted residential rebates.