Massachusetts Solar Incentives
Keep in mind that some government rebates and incentives are time-sensitive, as there is a limited amount of money available and is awarded on a first-come first-served basis.
Now’s the Time to Go Solar!
With electric prices soaring and federal and state incentives available, now is the time to invest in renewable energy. Although the biggest incentive is taking control of your long-term energy costs, the team at SunLion can help put together a financing and incentive package that will allow you to begin saving money right away.
Available State & Federal Financial Incentives
The US Department of Energy maintains a comprehensive resource for state and federal rebates and incentives for renewable energy. See what’s available in Massachusetts.
MA Solar Renewable Energy Credits (SREC)
The Massachusetts Department of Energy Resources implemented its MA SREC program in 2010, offering solar credits to homeowners and businesses with photovoltaic systems. For every megawatt hour (mWh) of electricity produced, participants earn one Solar Renewable Energy Certificate. These credits can be sold to electric utilities that need to meet state renewable energy mandates. In 2010, SRECs added a minimum of 30 cents and a maximum of 60 cents to the value of each kilowatt hour of electricity produced, dramatically reducing payback periods and skyrocketing return on investment for solar system owners. We can help you calculate revenue you can generate on your particular system to reduce your overall energy costs.
Net Metering
Net metering is an industry term relating to capturing unused energy generated by a renewable energy system and “banking” for future credit or selling all/some back to the utility source. Since December 2009, all homeowners and businesses with photovoltaic systems served by the major utilities receive full retail value when they generate more power than they need. In July 2008, Governor Deval Patrick signed the Green Communities Act, requiring Massachusetts’ utilities and other electricity suppliers to compensate customers for excess electricity at the retail rate rather than the lower wholesale rate. Additionally, customers may allocate their credits to other customers, allowing those without facilities to take advantage of net metering benefits as well.
Commonwealth Solar II Rebate Program for Residential Systems
The Commonwealth Solar II Rebate Program offers rebates on residential systems with a rebate calculation capped at 5kW. The rebates are based on the size and other characteristics of the solar project. Customers of a Massachusetts electric distribution utility that collects the Renewable Energy Systems Benefit Charge from its customers and deposits those funds into MassCEC’s Renewable Energy Trust Fund qualify for this rebate program. Remember, these rebates disappear when government funds are exhausted.
At SunLion, we make the process of “going green” easy by completing all of the required rebate and credit paperwork on your behalf. We even aggregate Renewable Energy Credits and sell them in bulk to give the highest possible return to our clients.
Now is the time to begin harvesting free energy from the sun. Contact us today to get started!
