Sunny Massachusetts is a nice place to go solar which means generating your own energy, and enjoying profits from it. And to enjoy it even more, take advantage of solar incentives in Massachusetts and bring down the cost of your PV system!
The US government wants more people to go solar: it’s a modern and green way of getting energy. This is why the Solar Investment Tax Credit (ITC) program was developed. It allows American citizens to claim 30% of the cost of their installation as an income tax deduction. The cost here is not only solar panels, but also shipping, installation expenses and more. For example, if your system overall made you spend $10,000, the government returns you $3,000. To claim the ITC, complete all the necessary forms and submit them when filing your taxes.
The net metering policy in Massachusetts has made it easier for its customers to sell unused electricity back to the grid instead of storing the energy in batteries. Your PV system will pay for itself primarily through the net metering program by selling solar energy you haven’t used into the commercial grid and gaining credits from your utility company.
One of the top net metering utility programs in Massachusetts is by Eversource. Any unused electricity will be stored as credits which can help even out future bills. If you have too much unused electricity it can be sold to Eversource customers in areas based on your neighborhood, this is known as virtual net metering.
If you are installing a new solar energy system in Massachusetts you can help pay back the costs by applying for the Solar Massachusetts Renewable Target (SMART) Program. The SMART program offers financial benefits to National Grid, Eversourse, and Until customers which pay PV system owners for the electricity their systems generate. Those homeowners whose solar systems are under 25kW receive around 30 cents (depending upon the location and utility) for each kilowatt-hour (kWh) their solar panel system produces for the first 10 years. There are also higher rates for low-income residents.
Massachusetts personal tax credit incentive offers 15% or $1,000 of renewable energy system cost coverage whichever is less. To claim the coverage, it must not exceed personal income tax for the year and your system must be intended to remain in operation for at least 5 years at your primary residence.
Massachusetts property owners will not have to pay any additional property taxes on the added value their solar system brings to their home due to the property tax exemption for renewable energy systems. However, any such home improvement will definitely make it about 4% more valuable on the property market, says the Zillow report.
Massachusetts ensures any new PV system installed and its equipment will not be part of your property tax for a period of 20 years from the date of the installation. However, Massachusetts' property tax exemption law can vary from county to county, so check with your county's tax assessor for accurate exemption in your area.
4%
this is how much solar panels increase the value of your house
A solar easement contract is a written agreement between you and another party, for example, your neighbor that helps you protect your solar space from different types of vegetation or buildings. This type of contract will ensure that your PV system always has adequate sun exposure, protecting you from potential obstacles. It is voluntary and can not be canceled unless a specific clause is included in the document.
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Years of experience in translation and a love of nature help Julia find the right words to encourage going solar. She joined the team in 2023 and is happy to make her contribution to a greener future.
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