SOLAR INCENTIVES
Claim your MA and REC credits today!
Climate action is not a budget buster or economy-wrecker. Shifting to a green economy could yield a direct economic gain of $26 trillion through 2030 compared with business-as-usual. This could produce over 65 million new low-carbon jobs. - United Nations
WE MAXIMIZE YOUR INCENTIVES
There’s a lot to navigate in regards to the financial incentives available for residential solar systems. From solar tax credits to net metering, we’ve gathered the most critical information and posted it here for you to review. Feel free to take a look and reach out to us if you would like additional information or clarification on a particular topic. We would love to hear from you.
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Under this credit, the owner of renewable energy systems gets a 15% coverage of the system cost against his or her MA income tax with a $1000 maximum credit amount.
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The Solar Massachusetts Renewable Target (SMART) Program is the Massachusetts Department of Energy Resources’ (DOER) incentive program established to support the development of solar in Massachusetts. The tariff-based incentive is paid directly by the utility company to the system owner, following the approval of the application by the Solar Program Administrator and DOER.
The SMART Program is a 3,200 MW declining block incentive program. Eligible projects must be interconnected by one of three investor-owned utility companies in Massachusetts: Eversource, National Grid and Unitil. Each utility has established blocks that decline in incentive rates between each block.
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In an effort to meet its clean energy goals, Massachusetts has implemented several regulations around clean energy production. One such regulation requires electricity providers to obtain a certain amount of the electricity they sell from renewable sources, like solar power.
The Renewable Energy Certificate (REC) program was created to help electricity suppliers meet their clean energy production requirements and to incentivize solar installations within the state. Solar owners earn one REC for every megawatt-hour (1,000 kWh) of electricity their system generates and can sell their RECs to utility companies and other interested parties in an open marketplace.
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If you are a customer of a regulated electric company (Eversource, National Grid, or Unitil), you may net meter. Net metering allows you to generate your own electricity to offset your electricity usage. Common examples of net metering facilities include solar panels on a home or a wind turbine at a school. These facilities are connected to a meter, which measures the net quantity of electricity that you use. When you use electricity from the electric company, your meter spins forward. When you generate excess electricity and “export” electricity to the electric grid, your meter spins backward.
ADDITIONAL BENEFITS
Did you know residential solar systems installed in Massachusetts also:
Are exempt from increasing your property tax for 20 years.
Add value to your home. According to Zillow, homes with solar sell on average 4.1% higher than non solar homes.