Massachusetts offers several incentives for solar power installation. Solar systems installed prior to December 31, 2011 are exempted from tax. SRECs enable you to sell your energy back into the utility, creating an income stream for the life time of the system.
SMART program
The SMART program for solar in Massachusetts is a state-mandated incentive program that supports solar deployment across the state. The program encourages solar storage and pays a fixed, per-kWh rate to solar power over the lifespan of a given solar system. Massachusetts has doubled its solar target since last year, and recently made it mandatory for all solar systems larger than 500 kW to be paired with energy storage.
The Department of Public Utilities recently approved the SMART program for Massachusetts solar. The DPU rejected the proposals of utilities to cap the on-bill credits that solar projects can receive in their local communities. The utilities also rejected a proposed fixed charge on all ratepayers, instead opting for a volumetric charge that places less financial burden on ratepayers.
Exemption from property tax
Massachusetts offers a tax exemption to solar and wind project owners. If you own a home in the state, you may qualify for this tax break. You should know that there are certain rules about the exemption from property taxes if you have a solar or wind power system. If you plan to sell the electricity you produce to an electric company, you can't claim the solar tax exclusion.
By filling out an exemption application, you can apply to the local assessor. The exemption is valid for 20 years. When the exemption expires, you must submit a new application for the exemption. In the meantime, your assessor should note the year on your property record card, indicating that the exemption will expire. The assessor should also keep a separate list with exempt devices.
Financial incentives
Massachusetts is among the best states for solar energy and offers excellent financial incentives for solar panel installation. These incentives can help lower the cost of installing solar panel and increase the payback period. Massachusetts has one the most generous solar incentives programs, the Solar Massachusetts Renewable Target Program. This program pays customers an hourly rate of $0.01 over a 10-year period.
This state offers several financial incentives for installing solar panels, including rebates or tax credits. It is also working towards the Clean Energy Standard. The state's renewable energy portfolio also has goals that align with this goal. Massachusetts offers tax credits through the federal government. In addition, the Commonwealth and some municipalities and towns offer rebates. Depending on your income level, you could receive a tax credit of up to 30%. Massachusetts now has a program called the solar tariff. It assigns an amount to the power you produce and send back. This program replaces the SRECII and SRECII programs.
Legality
If you are planning to install solar panels on your home in Massachusetts, you must know the legalities of solar easements. These agreements are between you and another person, or business, that give you the right to place solar panels on their property. These agreements allow you to save money and receive tax benefits. Solar panels must have a direct path to the sun to work properly.
Massachusetts is committed increasing renewable energy sources. Recently, solar energy systems have gained popularity. But the proliferation of solar systems has prompted several legal battles in the state. Massachusetts Supreme Judicial Court recently ruled solar energy systems aren't a violation to zoning regulations.
Costs
Installing solar panels on your home is an excellent way to cut your energy costs. The cost of the system will vary depending on its size. In Massachusetts, the average cost per Watt installed is $2.67 to $3.31. There are a few ways to reduce costs while still ensuring that your solar installation is an attractive option for your home. To get an estimate from a local installer, you can also inquire about the cost of your project.
The state of Massachusetts offers several incentives for solar panel installation. In Massachusetts, for example, you don't have to pay sales tax on the equipment. You also can benefit from a state tax credit that supports renewable energy. In addition, you could receive income tax credits up to $1,000 for producing solar electricity. Massachusetts also has an SREC market that allows homeowners to generate solar electricity. This market allows homeowners to make significant income by selling their excess energy to utility companies.