Massachusetts Solar Power at a Glance

Massachusetts Solar Power at a Glance
9

Electricity costs

0.0/10

Renewable Portfolio Standards

10.0/10

Solar Carve Out

10.0/10

Net Metering

10.0/10

Interconnection

10.0/10

Performance Payments

10.0/10

Incentives/Rebates

10.0/10

State Tax Credits

10.0/10

Property Tax Exemption

10.0/10

Sales Tax Exemption

10.0/10

Pros

  • Renewable Portfolio Standards
  • Solar Carve Out Program
  • Net Metering Program
  • Interconnection Policy
  • Performance Payments Program
  • Incentives/Rebates
  • State Tax Credits
  • Property Tax Exemption
  • Sales Tax Exemption

Cons

  • High electricity costs

Solar Power in Massachusetts

Massachusetts Solar Power

Introduction

The Massachusetts State officials are recognizing the benefits of using Solar Polar as incentives to drawing residents to this State. They have put a lot of work, thought and planning into enticing the residents here to consider Solar energy. The residents are well receiving these not only because of potential money savings, but because they want to make a strong commitment to the environment through the use of renewable energy. Another big incentive is the high electricity prices here in Massachusetts which are currently at 21 cents kwh. This is the 3rd highest in the Nation and makes for a good reason to check out Solar power Massachusetts opportunities.

Average Costs of Going Solar

The residents can expect an upfront cost of $18,750 for a 5 kW solar system. Off of this they can deduct $7,854 by way of incentives/rebates. This reduces their first year cost to $9,229.

Savings for Solar Power Massachusetts

Once they have their solar system up and running they can begin to enjoy a monthly savings of $102. Plus, the value of their homes will increase by about $24,570.

Payback Periods for Massachusetts Solar Systems

This Solar System of 5kW can be paid back in a mere four years.

Return On Investment On Solar Electric System

The residents residents can expect a ROI of 30.7%

Incentives Massachusetts Solar Power

Current Massachusetts Legislative Environment For Solar

The Solar Power Massachusetts Renewable Portfolio Standard has set a mandate of 25% renewable energy usage by 2030. This puts their RPS as #14 in the Nation.

They have a Solar Carve Out program in place geared at 1600 MW by 2020. This allows it to be ranked as #12 in the Nation.

The interconnection policies that are in place for this state are excellent.

Incentives Available For Massachusetts Solar

The major incentive in place for Massachusetts Solar is the Solar Power Performance Program. It is classed as the Nation’s 2nd best. They have implemented a program that acts as incentive funding called Solar Renewable Energy Credit (SREC). Those that qualify can receive up to $285.

Massachusetts Net Metering

Massachusetts is one of those States that has a good Net Metering Program in place. For those residents here under a Class l residential they get a credit for any additional energy created by their solar panels and can the credit can be carried forward for an indefinite period of time.

Solar Energy Massachusetts

Rebates / Tax Credits

For solar tax credits this state is in the 21st best position. It offers 15% up to a max. of $1,000.

There is the Federal tax credit of no limit 30%.

The state has a property tax exemption in place for up to 20 years.

The State also provides a sales tax exemption which really helps.

Summary:

With all that this state has to offer by way of incentives and encouragement for solar energy use its no wonder that it has become a leader across the nation for its enthusiasm and progress. There is no doubt that with a good solar system in place the concerns for high energy rates will become a concern of the past for this State.