Home Solar Power in Massachusetts
Massachusetts has been long recognized as a leader in the United States for home solar power with one of the best governing, rebate and incentive environments for solar energy.
Massachusetts Solar Incentives
Massachusetts started its first photovoltaic solar incentives clear back in 2001 funded by a modest renewable energy surcharge on some electric utility bills. In April of 2007 Governor Deval L. Patrick set an ambitious target of reaching 250 MW of solar power installed in the Commonwealth by 2017. At the time the Governor set the 250 MW goal the existing solar installations in Massachusetts only totaled 3.5 MW, to meet 250 MW goal the Commonwealth Solar Rebate Program was launched and solar power growth in Massachusetts exploded. The 350MW goal was exceeded four years ahead of schedule and a new goal of 1.6 GW by 2020 has been set.
Solar Installations in Massachusetts
There is currently enough solar energy installed in Massachusetts to power over 131,000 homes saving energy rate payers thousands of dollars each per year. Solar has also proven to be an economic boon for the Commonwealth, the growth of solar in Massachusetts has spawned over 377 solar related companies that employ over 9,400 people, setting a positive example for the rest of the nation.
Net Metering in Massachusetts
The driving force behind the success of Massachusetts solar program has been net metering, a renewable energy standard tied to solar goals and a SREC (Solar renewable energy certificate) program. Massachusetts also offers a personal income tax credit, a sales tax exemption and a property tax exemption in addition to the federal tax credit for residents that switch to clean, cheap solar energy.
Massachusetts Solar ROI
For Massachusetts homeowners with an appropriate site the financial return on investing in a solar PV system can be very positive. At five to eight years, Massachusetts has one of the shortest home solar payback periods in the nation and savings will continue long after the system is paid off. The life of a solar PV system is 20 years or more.
Solar Financing in Massachusetts
Because Massachusetts solar efforts have proven so successful the Commonwealth has attracted industry leading solar companies with a huge variety of financing options that make it easy to start saving on your energy bills immediately. Contact a Solar Consultant to see what programs, incentives and rebates you qualify for. Often times you can get a home solar system installed on your home with absolutely no upfront costs.