Commercial Solar Incentives

Commercial Solar Incentives in Massachusetts

By going solar in Massachusetts your business will benefit from lower operating costs from reduced or eliminated electricity bills, self-generated renewable energy that helps the environment and meet your sustainability goals, and protection from long-term rising energy costs. What also makes solar a smart investment here in Massachusetts for businesses is all the lucrative solar incentives and tax credits available to business owners making our state one of the best for commercial solar in the nation. The advantages of solar energy go beyond direct return on investment. It helps reduce grid demand and overall reliance on fossil fuels. Solar energy benefits all of us here in Massachusetts and throughout the country, which is why the state and federal governments have implemented solar tax credits and incentives to encourage and empower businesses to make the switch to clean energy powered by the sun!

By reducing the overall costs of solar installation through the Federal Investment Tax Credit and MACRS Depreciation, your commercial solar energy system is set up to generate income like a virtual tenant on your roof without any of the downsides like late payments, gaps between occupancies or having to fix repairs. Once your system is installed and up and running, you will receive payment for RECs created a couple of weeks after each quarterly minting and you will be paid directly via check or electronic deposit. Additionally, if you’re enrolled in the ConnectedSolutions program, you could see even more annual income from participating in peak demand events.

Learn more about the different commercial solar panel incentives available in Massachusetts. To find out about the value of incentives you may qualify for, reach out to Boston Solar today. We can help you determine your return on investment for solar for your business and explain how you can earn income from your solar energy system from these state and utility solar incentive programs. Many of the incentives for solar panel installation that are available to Massachusetts homeowners are also available to Massachusetts business owners with some variations in terms, and there are some commercial-only incentives in place as well to help make commercial solar a great investment.

Investment Tax Credit for Commercial Solar

Find out how your business can save 30% on solar with the commercial solar investment tax credit! Learn about project requirements, eligible expenses, bonus credits, and more. Call Boston Solar today for commercial solar installation in Massachusetts.

Renewable Energy Credits (RECs)

Renewable Energy Credits (RECs) are tradable commodities that represent 1,000 kilowatt-hours of electricity produced by a registered renewable energy facility. In Massachusetts and other states, electricity suppliers are required to source a portion of their power from renewable technologies, which they do by purchasing RECs. Solar system owners can sell RECs generated by their systems while still benefiting from net metering, if offered by their utility. To participate in the REC program, solar systems must be certified by the state and registered with NEPOOL GIS. Boston Solar handles the certification and registration process for customers, including setting up and managing the necessary NEPOOL account.

Modified Accelerated Cost-Recovery System (MACRS) - 100% Depreciation

The Modified Accelerated Cost Recovery System is a method of depreciation that allows businesses to recover some of the costs associated with commercial solar panel installation through annual tax deductions. MACRS can help reduce the payback period for commercial solar by allowing businesses to choose either a 100%, first-year “bonus” depreciation, or a 5-year MACRS schedule. With MACRS, you can start profiting off your solar panel investment sooner.

Massachusetts State Solar Tax Credits and Exemptions for Businesses

Massachusetts homeowners can also receive a credit on their state income taxes when they install solar panels. The credit is worth 15% of the total cost of the system, but there is a $1,000 cap. Additionally, your solar energy system is 100% exempted from property taxes for 20 years and the 6.25% sales tax is also exempt on solar energy installations.

Net Metering for Businesses

Net metering is another solar incentive that’s available to businesses as well as homeowners and helps to lower a business’ operating costs. Through the Massachusetts net metering program, businesses that generate more solar energy than they can use, can send that excess energy back to the power grid in exchange for a utility net metering credit that can then offset grid-supplied electricity costs. This makes it more affordable to power your business when your solar panels aren’t producing energy, like at night or during a storm.

Connected Solutions for Businesses

Massachusetts businesses that invest in a solar plus battery storage system can take advantage of ConnectedSolutions too. The program allows the New England grid to pull electricity from participating battery storage systems during peak demand times in exchange for a payment made to the system’s owner. This helps stabilize the grid and reduces the risk of blackouts.

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“I got three different quotations for the same size system; largely on reviews, I went with Boston Solar. I had a very good experience with the sales person, as well as the installers. Everyone was very approachable and reachable. The installation was about 2 weeks ahead of schedule.”

-Carlton J. 10.36kW in Boxford, MA

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“I had 33 solar panels installed in October 2015. We were pleased with the attention to detail during the installation and the site visits leading up to the install. There were no surprises and everything went according to our plan. Once the panels were operational Boston Solar continued to monitor our production…”

-Paul P. 8.91 kW in Natick, MA

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-Erik & Courtney 9.69kW in Wrentham