Detroit Edison Offers $25m in Solar Incentives
Detroit Edison has provided more than $1 million to customers in Southeastern Michigan to help power their homes and businesses with solar energy through its SolarCurrents program, according to a company press release.
There’s more money still available to help customers reduce their monthly electricity costs, as well as their carbon footprint, for the next 20 years.
“The response to the SolarCurrents program has been good,” said Trevor Lauer, DTE Energy vice president, Retail Marketing. “But we still have another $24 million left to help our customers lessen their dependence on fossil fuels.”
The 55 completed installations represent about 250 kilowatts of renewable electric capacity. Another 200 applications under review would add another 1,300 kilowatts.
Detroit Edison started the pilot program last year for customers who want to install their own solar energy systems. Customers receive 50 percent of the value of the Renewable Energy Credits (RECs) upon installation and 50 percent of the value of the remaining RECs as a credit on their bills for the next 20 years, according to the company.
The SolarCurrents program, combined with net metering, federal tax credits and other incentives could save customers more than half of the cost of a new photovoltaic system.
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