Solar Panel Incentives Massachusetts

This section describes the different types of solar energy and how they are used in massachusetts.

Solar panel incentives massachusetts.

Massachusetts solar incentives rebates and tax credits customer s ability to monetize rebates incentives and tax credits depends on several factors including without limitation continued state subsidization of these policies the applicable sunrun product type and whether a customer purchases or leases a solar system from sunrun. It s called the smart program. Smart was launched by the department of energy resources doer in conjuction with participating investor owned utilities. In addition find out what solar programs and incentives are currently available for your home business or institution.

With this incentive the state of massachusetts pays eversource national grid and until customers a fixed rate per kilowatt hour kwh of solar energy produced for 10 years. One of massachusetts most exciting solar developments is the smart program. However the experts agree that massachusetts is an excellent location for solar systems. Massachusetts solar panel tax credits policies since 2002 massachusetts electricity providers have been working to meet and exceed the state s renewable portfolio standard rps.

Many states also offer tax credits for solar. At the program s core is a formula which includes a base compensation rate which decreases as your system gets larger. The most significant incentive to install solar panels for homes and businesses in massachusetts is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. Solar massachusetts renewable target smart program a production based incentive that is paid directly by investor owned electric utilities in massachusetts to solar electric system owners.

The massachusetts department of energy resources doer and the massachusetts clean energy center masscec have launched the mass solar loan program for massachusetts residents interested in directly owning their solar electric projects. Massachusetts has devised an ingenious progressive solar incentive system which favors low income small scale and community solar energy projects. Federal solar tax credit. As of september 2020 the average solar panel cost in massachusetts is 3 20 w given a solar panel system size of 5 kilowatts kw an average solar installation in massachusetts ranges in cost from 13 600 to 18 400 with the average gross price for solar in massachusetts coming in at 16 000 after accounting for the 26 federal investment tax credit itc and other state and local solar.