Massachusetts sets itself ahead of the rest in New England in its support of homeowners going solar. Read below about the available incentives that can reduce your upfront investment and improve your ROI from installing a system on your roof!
Personal Income Tax Credit
Amount: 15% of the system costs
Restrictions: $1,000 maximum
Solar Requirement: 400 MW target; SACP currently $550. Read more details here.
Property Tax and Sales Tax Exemptions
Amount: For 20 years, the state will not tax the added value a solar system contributes to your property. After 20 years, the solar panels will have depreciated in value, so no worries there. Since you don’t pay sales tax on any part of the solar system, the price you are quoted is the total installed price!
Amount: $.75/watt DC – $2.70/watt DC (varies by adders, see below)
-$.10 adder for MA-based components (Schott Solar, Satcon, Solectria Renewables, Beacon Power, Panel Claw,
-$.85 adder for either a moderate income or home value
-$1.00 adder for Natural Disaster Relief from June tornados
Restrictions: Capped at $8,500 (first 5 kW of capacity)
Other: Funding released on a quarterly block schedule. Most utility territories are eligible, except for a few Municipal Light Plants that do not pay the surcharge to the Renewable Energy Trust Fund.
If you are a Massachusetts resident and you in a “Class 1” residential net metering area, any additional electricity your home solar power systems produces is credited to your bill. The catch is that not all utilities play by the same rules. Some will credit you on an equal basis. If you generate 1 kWh of additional solar power, you can use that 1 kWh later at night or at a future time within that same year. However, other utilities will credit you at a lower rate. In other words they will only give you 0.9 kWh for the 1 kWh you produced.
Your installer will usually be able to handle a lot of the paperwork with these rebate and incentive programs. To find out more about how a home solar energy system pencils out for you fill out our form and we will have a Massachusetts solar expert contact you to discuss your options.