State ID
Massachusetts is ranked 10th in the country based on the total amount of solar electric capacity installed and in operation (SEIA 2021). The Solar Massachusetts Renewable Target (SMART) program was established in 2018 and has driven significant solar deployment in the state, acting as a template for other states to follow.
Solar Incentives
Under the residential renewable energy income tax credit, the owners of renewable energy systems get a 15% rebate off the system cost against their MA income tax with a $1000 maximum credit amount. The Solar Massachusetts Renewable Target (SMART) pays Eversource, National Grid, and Until customers a fixed rate per kWh of solar energy produced for 10 years. For systems under 25 kW, the rate ranges from 19 to 31 cents per kWh. Both the sales tax and property tax incentives are attractive because they ensure 100% tax exemption from both sales and property tax payments which certainly add up over time. Net metering in Massachusetts allows customers to offset their energy use and transfer energy back to their electric companies in exchange for a credit. In addition, you can reduce the cost of your PV solar energy system by 26% with the Investment Tax Credit (ITC).
Frequently asked questions
FAQ
Growth Projection and Ranking: 1,537 MW over the next 5 years (ranks 20th)
Total Solar Investment in State: 8.4 billion. As of March 2022, the average solar panel cost in Massachusetts is $3.09/W. Given a solar panel system size of 5 kW, an average solar installation in Massachusetts ranges in cost from $13,132 to $17,768, with the average gross price for solar in Massachusetts coming in at $15,450
Generally, homes with solar energy systems sell for more than homes without. In most parts of the country, going solar can increase your property’s value by 4.1 to 9.9%, depending on where you live. Please note: The value of your property will only increase if you own, rather than lease, your solar system. However, a leased solar system may increase your home’s marketability.
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