Solar Incentives & Savings
If you’re thinking about going solar then you’re probably wondering how much it costs and how you can save on installation.
There are several incentives for both residents in Virginia and Michigan that help lower the cost to go solar and shorten your buyback period.
At Tiger Solar, we’re here to make it simple. Solar energy is a smart way to reduce your energy bills, increase your property’s value, and support a cleaner, greener future — and we’ll guide you every step of the way.
How Much Does Solar Cost?
The price of a solar energy system varies depending on several factors, such as:
Energy Usage
How much energy are you using now and how much energy will your solar system need to offset this.
Roof Complexity
The design, pitch, and materials of your roof. Learn more here.
Solar System Chosen
Higher efficiency panels combined with batteries increase the price, but offer better long-term savings.
Rebates & Incentives Help Reduce the Upfront Cost
While the upfront cost for going solar can be significant, financial incentives and rebates can help make solar much more affordable. Homeowners can expect a payback period of roughly 10 years where after that, the energy your system produces is essentially free. During these 10 years though you’ll enjoy much lower utility bills and some grid independence shielding you from blackouts and power outages caused by adverse weather conditions or grid sustainability.
When you consider long-term savings on electricity bills, tax incentives, and potential increases in property value, solar is not only environmentally friendly — it’s a smart financial decision.
Financial Incentives that Make Solar Affordable
Even before state-specific incentives, there are programs that help reduce the cost of going solar:
SRECs
(Solar Renewable Energy Certificates)
SRECs allow solar system owners to earn credits for the electricity their panels generate. These credits can then be sold to utilities, creating an ongoing source of income that helps offset the cost of your system.
MACRS
(Modified Accelerated Cost Recovery System)
For businesses, MACRS lets you depreciate your solar system more quickly for tax purposes. This accelerated depreciation can generate significant savings and reduce your overall tax burden.
USDA REAP
(Rural Energy for America Program)
If you own a rural business or agricultural operation, the USDA REAP program provides grants and loans to help cover the cost of renewable energy systems, including solar.
Virginia Solar Incentives & Rebates
Homeowners and businesses in Virginia have access to a variety of state-specific programs:
Residential Property Tax Exemption
Installing solar panels and backup battery systems increases your home’s value by roughly 5-10% according to a study performed by Solar Insure. This would generally mean an increase in taxes too, but under this exemption you won’t pay additional property taxes for the increased value by adding solar panels and backup batteries to your home. State agricultural and residential solar systems are also no longer state or locally taxable.
Local Utility Rebates & Renewable Energy Programs
Utilities in Virginia may offer additional rebates or programs to help reduce upfront costs, such as Dominion Energy’s EV Charger Rewards. Contact our solar experts to learn about different rebates and energy programs offered by your utility company.
Net Metering
Homeowners in Virginia can enroll in a net metering program with their utility companies, where you’re given credit for excess power your system generates and sends back to the grid. This not only helps maximize savings over time, but also ensures that every kWh you produce saves money on your monthly electricity bills.
Michigan (MI) Solar Incentives and Rebates
Homeowners and businesses in Michigan have access to a variety of state-specific programs:
Residential Property Tax Exemption
Established in 2019, this exemption applies to renewable energy systems up to 150 kW. Your panels must offset some or all of the energy used on the property to qualify.
Distributed Generation Program
Similar to net metering, this program credits homeowners for excess electricity their panels produce, reducing monthly energy bills and improving your payback period.
Ready to See Your Savings?
Going solar is an investment in both your home and the planet. With Tiger Solar, you’ll have the best pricing available to you as a homeowner whether you’re in Virginia or Michigan. We pride ourselves on the fact that we can offer the same ROI on solar systems and batteries as if the 30% tax credit was still available.
Contact us today to learn more about available incentives in your area and take the first step toward cleaner, more affordable energy.