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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 Energy Efficiency Tax Credits
This is a federal tax credit of 10 percent of the cost of energy efficient upgrades, up to $500. Must be a principal residence and an existing home. New construction and rentals do not qualify. Upgrades include:

  • Biomass stoves
  • Heating, ventilating, air conditioning
  • Insulation
  • Roofs (metal and asphalt)
  • Water heaters (non-solar)
  • Windows and doors

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.

Michigan Tax Credits
Some Michigan taxpayers are eligible for a tax credit for the purchase and installation of qualifying energy efficient home improvements. To claim the credit, persons filing single returns must have an annual income of $37,500 or less, and married couples filing jointly must have an annual income of $75,000 or less. Credits are limited to qualified improvements made in principal residences and are not available to renters or for improvements made in second homes. Qualifying home improvements are limited to the following categories:

  • Insulation
  • Water heaters
  • Furnaces
  • Windows
  • Refrigerators, washers, dishwashers

All equipment must meet EPA Energy Star efficiency criteria and must be for residential or non-commercial use. The credit is 10 percent of the installed cost of each improvement, up to $75 for single filers and $150 for joint filers.

Rebates and Incentives

SolarCurrents
Once a solar energy (photovoltaic) system has been purchased and installed, DTE will help offset installation costs by an average of $22,000 (based on an average system size of 4.5 kW, over 20 years). The SolarCurrents program, combined with net metering, federal tax credits and local incentives, could save more than half the cost of a new photovoltaic system.

DTE Energy/MichCon
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.

EnergyStar
This government-backed program helps businesses and individuals protect the environment through superior energy efficiency.

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 contractor using DTE Energy’s Energy Efficiency Directory.

Other Resources

Alliance to Save Energy
This nonprofit coalition of prominent businesses, government, and environmental and consumer leaders promotes the efficient and clean use of energy worldwide to benefit the environment, the economy and national security.

American Council for an Energy Efficient Economy
The ACEEE is a nonprofit 501(c)3 organization dedicated to advancing energy efficiency as a means of promoting economic prosperity, energy security and environmental protection.

American Society of Heating, Refrigerating and Air-Conditioning Engineers
This international technical society was organized to advance the arts and sciences of heating, ventilation, air conditioning and refrigeration.

Consortium for Energy Efficiency
From across the United States and Canada, the Consortium for Energy Efficiency works together on common approaches to advancing efficiency.

Great Lakes Renewable Energy Association
This is a nonprofit organization that educates, advocates, promotes and publicly demonstrates renewable energy technologies.

U.S. Department of Energy Office of Energy Efficiency and Renewable Energy
This federal program invests in clean energy technologies that strengthen the economy, protect the environment and reduce dependence on foreign oil.

WaterSense
Sponsored by the EPA, WaterSense is a partnership program that seeks to protect the future of our nation’s water supply by promoting water efficiency and enhancing the market for water-efficient products, programs and practices.

Whole Building Design Guide
This is the only web-based portal providing government and industry practitioners with one-stop access to current information on a wide range of building-related guidance, criteria and technology from a whole buildings perspective.