Solar Panel Rebates Massachusetts

The federal government provides a solar tax credit known as the investment tax credit itc that allow homeowners and businesses to deduct a portion of their solar costs from their taxes.

Solar panel rebates massachusetts.

Technologies that qualify for the credit include solar photovoltaics solar thermal and wind power. That isn t the end of the savings train. However the experts agree that massachusetts is an excellent location for solar systems. Air and water heat pumps.

Hudson light power department the municipal utility for the town of hudson offers a limited number of solar photovoltaic pv rebates for residential commercial industrial and municipal customers. They can then take this credit and sell it to a utility company. When it comes to clear cut state solar incentives it doesn t get a lot simpler than the ma renewable income offer. Solar massachusetts renewable target smart program a production based incentive that is paid directly by investor owned electric utilities in massachusetts to solar electric system owners.

Arizona and massachusetts for instance currently give state income tax credits worth up to 1 000 toward solar installations. The following things do not qualify for the credit. The massachusetts department of revenue offers a tax credit worth 15 of the cost of a renewable energy system including solar panels up to a maximum credit of 1 000. Both homeowners and businesses qualify for a federal tax credit equal to 26 percent of the cost of their solar panel system minus any cash rebates.

Let s take a look at the top ma solar incentives that we recommend to the prospective solar shopper. Residential renewable energy income tax credit. Under this credit the owner of renewable energy systems get a 15 coverage of the system cost against his or her ma income tax with a 1000 maximum credit amount. That s 43 off the starting price.

Your system will pay for itself in just 6 years and over its 25 year life you ll see a total net profit of 44 744. This section describes the different types of solar energy and how they are used in massachusetts. Municipal light plant solar rebate program. A person living in massachusetts who has a solar panel system installed on their home or business earns credit for every mw hour of electricity that their system produces.

The massachusetts smart solar program will earn you 806 this year bringing the final year 1 cost to just 12 069. Smart was launched by the department of energy resources doer in conjuction with participating investor owned utilities. Panels oriented between 170 and 220 range 1 receive 1 00 watt and panels oriented between 220 and 300 range 2 receive 1 25 watt. In addition find out what solar programs and incentives are currently available for your home business or institution.