Solar power offers valuable financial benefits including lower monthly bills, protection from rising utility rates, and increased home value. Choosing the right financing option—whether cash purchase or through the Michigan Saves loan program—determines your immediate costs, long-term savings, and overall return on investment.
At Strawberry Solar, we’re committed to transparency, providing clear information about all costs and benefits to help you make the best financial decision for your situation.
Many of our customers will pay for their solar panel installation via Cash, Credit, Check or through a program like Michigan Saves. In some cases we’ve had some leveraged a refinanced mortgage or HELOC to cover the upgrade.
We are an authorized contractor in the Michigan Saves program.
Michigan Saves is a nonprofit green bank that makes clean energy financing accessible to Michigan residents. It operates as a financial program that connects homeowners with authorized lenders.
The program helps Michigan families reduce costs by financing various energy improvements, including renewable energy sources like solar panel installations.
You’ll need our contractor ID to fully apply. If you’ve decided on Michigan Saves or if you have any questions about the program, please reach out and we would be happy to assist!
Call us at (313) 960-7900
Federal & State Incentives
The federal solar tax credit remains at 30% through 2032, allowing you to claim 30% of your total solar system costs against your federal tax liability. This incentive will decrease to 26% in 2033 and 22% in 2034 before expiring.
Keep all receipts and documents related to your solar installation, including contracts, invoices, and proof of payment. You’ll also need documentation showing when your system received permission to operate from your utility company.
Looking to leverage the tax credit to help lower the cost of your solar installation?
Return on Investment with Solar
Your solar ROI (Return on Investment) is your total savings on electricity costs once you’ve passed your payback date. Let’s look at how to calculate solar panel ROI.
Many of our customers see a payback or return on investment with their solar panels within 10 years.
