Massachusetts Solar Rebates and Incentives
With Solar Community, You Save the Most on Your Solar System!
Now, more than ever before, going solar has been made both cost-effective and simple for homeowners. Cost-effectiveness is largely assisted by Government-initiated residential solar rebates and incentives, which are in place on a Federal, State and Local level. Simplicity is achieved with Solar Community, as we handle the entire paperwork process for you. By thoroughly researching and matching cost-cutting solar rebates and incentives on a case-by-case basis, we will work hard to ensure the lowest system cost possible for each individual customer. With Solar Community helming the whole procedure, it couldnâ€™t be easier for you!
Federal: Save With a Tax Credit
The same U.S. Federal Credit applies to every new system installation at a flat 30% of the full system price after installation, with no upper limit. Solar Community will provide you with the document necessary to add to your tax forms. The discount comes for you as a tax credit. All applicable photovoltaic systems must provide electricity for the residence and must meet applicable fire and electrical code requirements. For more information on the Federal Tax Credit, click here.
State: Massachusetts Renewable Energy Income Tax Credit
Massachusetts allows a 15% credit (up to $1,000) against the state income tax for the net expenditure of a renewable-energy system (including installation costs) installed on an individualâ€™s primary residence. If the credit amount is greater than a resident's income tax liability, the excess credit amount may be carried forward to the next succeeding year for up to three years. Eligible technologies include solar water and space heating, photovoltaics (PV), and wind-energy systems. The original use of the system must begin with the taxpayer, and the system should â€śreasonably be expected to remain in operation for at least five years.â€ť â€¨â€¨
The credit is available to any owner or tenant of residential property. For a newly constructed home, the credit is available to the original owner/occupant. Joint owners of a residential property shall share any credit available to the property under this subsection in the same proportion as their ownership interest. Any excess credit amount may be carried over to the next 1-3 taxable years.
State: Massachusetts Renewable Energy Property Tax Exemption
Massachusetts law provides that solar-energy systems and wind-energy systems used as a primary or auxiliary power system for the purpose of heating or otherwise supplying the energy needs of taxable property are exempt from local property tax for a 20-year period. Hydropower facilities are also exempt from local property tax for a 20-year period if a system owner enters into an agreement with the city or town to make a payment (in lieu of taxes) of at least 5% of its gross income in the preceding calendar year. â€¨â€¨This incentive applies only to the value added to a property by an eligible system, according to the Massachusetts Department of Energy Resources (DOER). It does not constitute an exemption for the full amount of the property tax bill. Visit the Massachusetts Department of Energy Resources (DOER) for more information.
Local: Solar Renewable Energy Credits (SREC)
The Massachusetts Department of Energy Resources (DOER) recently approved an SREC market to begin in January 2010. The state will implement a solar carve out that establishes a requirement for solar in Massachusetts. In addition to that, the state will implement the MA Solar Credit Clearinghouse as a last resort, fixed-price auction in the last quarter of each year with a fixed price of $300 per SREC less a 5% fee resulting in a floor price of $285. This establishes a floor price for Massachusetts SRECs and gives project financers a minimum value they can expect per SREC, though prices could rise as high as $600 depending on market conditions. Eligibility begins upon date of interconnection, as long as the system is certified by the state before that quarter's SREC's are generated. A system should apply for certification around the date of interconnection to assure they receive full credit for their generation.
Choose a state below for more information about how Solar Community can help you save on your solar PV system.
If you have any questions or want more information, you can contact us by email or just call us at 877.652.7674.