Solar helps Massachusetts Homeowners Manage their Energy Costs
Solar energy in Massachusetts is an attractive option for managing your energy costs and saving money. The solar industry is rapidly growing and flourishing, creating jobs, cutting carbon emissions and producing renewable power for consumers throughout the state.
25% Higher Electricity Rates
Massachusetts’ electricity rates are 25% higher than the national average, making solar an especially cost-effective solution for homeowners in MA. According to Mass Save – a non-profit organization dedicated to helping residents make smarter choices about their energy use – an average MA homeowner could save at least $16,500 by installing solar panels on their property.
Take Advantage of Federal and State Incentives
Homeowners who opt to install solar can take advantage of various incentives offered by the state. One major one is the SMART program, which pays homeowners a fixed rate per kilowatt-hour produced from solar energy production. This rate, which varies based on where your system is connected and which electrical utility provider you use, decreases gradually over time depending on these variables.
In addition to SMART, homeowners who invest in solar in MA can take advantage of several federal and state tax incentives. The federal solar investment tax credit (ITC) allows MA homeowners to claim a credit for up to 30% of the system cost.
Cash Purchases are the Most Popular
In addition to these incentives, there are various ways to finance a solar installation. Cash purchases are the most popular method but loans and solar lease/PPAs may also be utilized to reduce upfront costs.
Massachusetts offers a state sales tax exemption on solar equipment, making the upfront cost of a solar panel system cheaper by an average of over $1,100. This makes going solar more accessible than ever before.
No matter your financial situation, finding the right solar company in MA can help you get started and save thousands on your electricity bill. Whether you prefer cash purchase, financing or lease/PPA options, Mass Solar Initiative’s experienced and knowledgeable professionals will work with you to find the most suitable solutions for your home.
Community Solar
Community solar is an ideal option for homeowners who want to reduce their monthly electric bills but lack the resources to install rooftop solar. With community solar, you subscribe to a local farm and receive credits on your bill from electricity generated by your share of the farm – this could reduce energy expenses by 10-20% each year with no cancellation fee. With community solar, there’s no risk involved; plus, it’s completely hassle-free to cancel at any time without incurring financial loss.
Net Metering
Massachusetts is an investor-owned utility and as such must offer its customers net metering. This enables residential solar customers to send excess production back into the grid and receive energy credits that can be applied towards future electricity bills.
Massachusetts’ net metering incentive program is straightforward, yet customers may face difficulty maximizing their benefits. This is because many municipalities have caps on this program and solar projects must meet certain criteria in order to be eligible.
