Massachusetts Solar Incentives

Massachusetts Solar Incentives (1)

Massachusetts ranked #10 in the National Solar Rankings this year and has been a leader in progressive solar incentives and tax advantages for residents to install solar panels in Massachusetts. One of the reasons is a higher electricity rate than the national average. Because of the state’s high electricity demands, lawmakers and energy developers are working toward a more eco-friendly infrastructure for everyone. Those efforts include the creation of solar incentives.

So what is a solar incentive? In simplistic terms, it’s a motivational tool meant to encourage people to invest in solar energy. In today’s market, solar power installation is a increasinlgy popular investment for home and business owners. The incentives are designed to make this kind of power more affordable than ever before. Here, we’ll be going over the main incentives that are available to the people of The Bay State!

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Types of Solar Incentives

Before moving through our list of resources, we should talk about the different incentive types. In Massachusetts, there are state-specific tax rebates as well as federal solar incentives. Aside from tax incentives, there are solar energy programs that will fund property owners in their installation projects or their energy consumption. With so many options available, you’ll be able to significantly reduce the amount of money you spend on your solar energy system.

Solar Incentives in MA

Massachusetts ranks as one of the top states for solar energy, and for a good reason. Here are the most well-known incentives to choose from here:

The Federal Solar Tax Credit

Also known as the Clean Energy Tax Credit, this incentive is available to every Massachusetts taxpayer on a national level, here MA homeowners can claim up to 30% on a solar installation during tax season. This is a dollar for dollar reduction in your overall tax burden by investing in solar energy this year. This tax credit is scheduled to be phased out and expire in 2035, unless it gets renewed by congress.

The Residential Renewable Energy Tax Credit

This tax credit is specific to Massachusetts residents. This credits gives homeowners a 15% credit on their taxes, up to $1,000 for a renewable energy system. To complete this you will utilize the Schedule EC (Solar and Wind Energy Credit) with your annual tax returns to recive the benefit. Massachuests is one of the only states to offer this tax credit for its residents.

The Solar Property Tax Exemption

This is a common favorite of all the solar incentives. This property tax exemption allows property owners to exclude the added value of a solar installation, which will reduce the overall tax payment. So you can enjoy the benefits of a more valuable (and energy efficient) home with out the additional taxes. The Massachusetts property tax exemption lasts for a 20 year period after you install solar panels in Massachusetts.

The Solar Sales Tax Exemption

To further incentivize Mass home and business owners to invest in solar, solar energy equipment is exempted from a sales tax in Massachusetts. Current sales tax is 6.25% in Massachusetts and there have been talks about an increase in the new year. This is a big deduction from the cost of solar in Massachusetts. As a quick example, you could save over $1,000 on a $16,000 complete home solar system and home solar battery.

The SMART Solar Massachusetts Renewable Target Program

This robust MA state program will compensate homeowners per kilowatt-hour of solar energy that’s produced by a system. If you qualify, you could be paid a flat rate for the excess energy your solar panels produce! Extra money for the times you are not utilizing the full potential of your residential solar system.

The Net Metering Program

Net Energy Metering program, sometimes referred to as NEM, will compensate homeowners for any extra electricity that flows back into a grid. If your system is able to generate more electricity than what the household uses, then that energy can be consumed elsewhere on the grid. This program saves you money through the electricity bill.

 

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Solar Companies in Massachusetts

As you can see, Massachusetts is fully invested in helping home and business owners invest in clean renewable energy. If you’re interested in finding more information on solar panels in Massachusetts, check out EcoGen America’s solar learning center to find the answer to commonly asked questions and more. We offer in-depth resource about different states and how they offer renewable energy. We also provide free solar quotes to help "reduce the noise" from the overload of internet information. We offer you a free solar consultations to answer all of your questions and see what incentives you qualify for. Take the next steps in your journey to going solar and get your free quote today!

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Does Massachusetts offer a solar tax credit?

Yes! Massachusetts is one of the few states to offer its own solar tax credit of 15% for residents who install a solar or renewable energy system. This credit can be used for up to 3 years after installation. 

What solar rebates are available in Massachusetts?

There are several rebates and incentives for Massachusetts residents to save on their solar panel installations including the Clean Renewable Energy Tax Credit of 30%, The Local Massachusetts Solar Tax Credit of 15%, and property/sales tax exemptions. 

Is it worth it to go solar in Massachusetts?

With over 200+ sunny days per year and nation leading solar incentives. Local MA homeowners say yes, it is worth going solar in Massachusetts! Read more about why.