Incentives

Incentives for Solar Panels and EV Chargers

There is growing recognition of the importance of utilizing sustainable resources such as sunlight, heat, and wind. While technological advancements are making products like solar panels and electric vehicles more affordable, some consumers may still be taken aback by the cost. However, investing in green energy is wise, given its benefits, such as a healthier and more beautiful planet for future generations.

To ease the transition, many loans, grants, rebates, and tax credits are available from both companies and governments. Remember that these incentives are subject to change, so it is important to stay current with the latest options. If you are interested in learning more about how to save money on renewable energy purchases, contact State Electric Company, where our knowledgeable staff can assist you in finding the most suitable cost-saving solutions for your situation.

Image of a residential Enel X Way JuiceBox EV charger

EV Charger Rebates

New plug-in and fuel cell electric vehicles purchased in or after 2023 are eligible for a tax credit of up to $7,500 for new vehicles. Used electric vehicles purchased from a dealer for $25,000 or less are eligible for a tax credit of up to $4,000. Specific requirements apply; check with your manufacturer for specific rebates and incentive information.

  • The US federal government offers a tax credit for purchasing a residential EV charger and installation, up to 30% or $1,000. You must purchase and install the Enel X WAY JuiceBox by December 31, 2032, and claim the credit on your federal tax return.
  • The Alternative Fuel Infrastructure Tax Credit (under Code 30C) gives qualifying businesses a 30% tax credit, up to $100,000 for electric charging infrastructure and other alternate fueling methods installed and placed in service from January 1, 2023, through December 31, 2032.
  • Every state and utility provider offers different incentives that change often. Please reference the U.S. Department of Energy, Energy Efficiency & Renewable Energy webpage, here for updated information.

Navigating these gateways can be confusing, and State Electric Company is here to help! We’re happy to consult with you to determine your electrical needs and propose viable and affordable solutions. Our team is committed to sustaining the electrification of the nation through renewable energy sources.

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Michigan is partnering with DTE and Consumers Energy to offer these incentives and rebates:

Looking for More Rebates?

Solar Panel Rebates

The Investment Tax Credit (ITC) is a federal tax credit of 30% that can be claimed by investors in solar energy property, both residential (under Section 25D) and commercial/utility (under Section 48), to offset their tax liability. Homeowners who purchase and install solar systems can claim the Section 25D credit on their personal income taxes, while businesses involved in the installation, development, or financing of solar projects can claim the Section 48 credit. The ITC is a dollar-for-dollar reduction in income taxes based on the amount invested in solar property. This credit will remain unchanged until 2033 and is available only to solar panel owners who pay federal income taxes.

You may also enroll in Michigan’s credit program through Consumers Energy here called Michigan Renewable Energy Credit.

Consumers Energy
Icon of solar panel for collecting clean energy
State Electric is a top notch company. They did the installation of our home charger and were amazing. All of the staff were kind, responsive and a breeze to work with.

-Lori Heinz

Portrait of the best-in-class Enel X Way JuiceBox EV charger