DETROIT – Detroit Edison has been authorized by the Michigan Public Service Commission to partially reimburse customers for installing solar Photovoltaic systems, up to $25 million in total.
Not only can customers receive a payment upon installation, but they also will receive a monthly credit on their energy bills for the next 20 years. This is in addition to federal tax credits and any other local tax incentives.
The initial payments will vary based on the size of the system, but Edison said that for typical 2 kilowatt solar energy system serving a 2,000-square-foot business or home and costing about $18,000 to install, a customer could receive an initial $4,800 payment and monthly credits that would total about $5,000 over 20 years.
In return, Detroit Edison will receive all rights to any Renewable Energy Credits allocated to that renewable generation.
SolarCurrents makes solar energy up to 50 percent more affordable for customers who purchase and install a solar photovoltaic system on their home or business.
SolarCurrents is a new pilot program offered by Detroit Edison. It�??s designed to reduce:
The installed cost of a solar PV system
Your monthly electricity costs for 20 years
Your carbon footprint
For more information, click on DTEEnergy.Com
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