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Financing

Michigan Saves
A nonprofit organization dedicated to making energy improvements easy and affordable, the Home Energy Loan Program helps homeowners finance the cost of energy efficiency improvements.

Pollution Prevention Loans
This business-centered program provides loans up to $400,000, at an interest rate of five percent or less, to existing independently owned businesses with 500 or fewer full-time employees. Qualifying projects include those that eliminate or reduce waste at the business location (source reduction), result in environmentally sound reuse and recycling for the loan applicant’s generated wastes, conserve energy or water on-site or are a qualified agricultural energy production system.

FHA 203(k) Rehab Mortgage
This program enables homebuyers and homeowners to finance the purchase (or refinance) of a house and the cost of its rehab through a single mortgage, or to finance the rehab of their existing home – from $5,000 to 110 percent of the appraised value of the home.

Washtenaw Rehabilitation Program
The program provides low-income homeowners a low-interest deferred loan up to $15,000 for energy efficiency improvements, including energy audits, Energy Star appliances, energy efficient lighting, windows, doors, heating and cooling systems, air sealing, insulation and water saving devices.

SBA 504 Loan Program
This program provides healthy small and medium-sized businesses with long-term, fixed-rate financing for the acquisition or construction of fixed assets. Projects are financed through a unique public/private partnership that involves private lenders financing 50 percent of project costs, the Michigan Certified Development Corporation covering up to 40 percent of project costs, and small businesses investing a minimum of 10 percent of project costs.

Tax Information

Federal Renewable Energy Tax Credits
This is a federal tax credit of up to 30 percent of the cost of a renewable energy project, with no upper cost limit. Existing homes and new constructions are eligible; both principal residences and second homes qualify. Rental homes are not eligible. Upgrades include:

  • Geothermal heat pumps
  • Small wind turbines (residential)
  • Solar energy systems

EPAct
This commercial building tax deduction is for expenses incurred for energy efficient building expenditures made by a building owner. The deduction is limited to $1.80 per square foot of property, with allowances for partial deductions for improvements in interior lighting, HVAC and hot water systems, and building envelope systems.

Rebates and Incentives

DTE Energy
This multi-layered incentive system is designed to help homeowners reduce the cost of making energy improvements, including incentive checks for energy audits, air sealing, insulation, duct sealing and window replacement. Get up to $1,350 per household.

Consumers Energy
This program provides rebates, incentives and instant savings on lighting, heating and cooling, and energy efficient appliances.

Washtenaw County Weatherization Program
Low-income households are eligible for free energy-saving repairs, including insulation, furnace and water heater inspection and repair, refrigerator inspection and replacement, caulking and weatherstripping.

Database of State Incentives for Renewable Energy
DSIRE is a comprehensive source of information for state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency.

Contractors
Find a Michigan Saves-authorized contractor.