The Smart Incentive Program: What You Need to Know
Nov. 14, 2018
If you’re a Massachusetts resident who is considering solar, you may have heard of SMART (Solar Massachusetts Renewable Target) — the latest solar incentive program designed to promote the development of solar here in Massachusetts. This new program will offer valuable financial incentives for home and business owners who go solar. SMART will officially begin accepting applications (which are submitted by the solar installer on behalf of the customer) on November 26, 2018, so these solar incentives are just around the corner!
NOTE: If you are already a part of another incentive program, for example, SREC or SRECII there is no action required. You will continue to receive your program's incentives.
How does the SMART program work exactly, and what does it mean for Massachusetts residents who are thinking about investing in renewable solar energy? As your #1 local solar company, Boston Solar wanted to share some key info about SMART with our fellow Massachusetts residents.
The SMART Program & How It Works
We talked about SMART on the blog earlier this year and have eagerly awaited its arrival. SMART is a statewide program offered by the Massachusetts Department of Energy Resources. It will provide monthly financial incentives for home and business owners who purchase and install a solar electric (PV) system.
Through the program, Massachusetts residents can receive thousands of dollars in incentives for their solar systems, paid out over time in monthly increments. How much you receive will depend on how much electricity you produce, which factors in the size in kW of your solar system and its performance factors like shade and peak sunlight.
“How Do I Start Receiving Incentives?”
Monthly financial incentives are paid directly by the utility company to the solar system owner. In order to be eligible, your system must be connected to one of three utility companies in Massachusetts: Eversource, National Grid, or Unitil.
Solar installers submit SMART applications on behalf of their customers, so taking advantage of this program is easy. Be sure to talk to your solar contractor about SMART, and they will handle the entire application process for you.
Install Solar Now to Receive More Incentives
SMART is built on declining blocks, and the solar incentives will decline as each block is used. That means that the sooner you install solar, the more incentives you are likely to receive through the SMART program. If, for example, you own a 9 kW size system that produces 10,000 kWh annually, and you are placed in the first Capacity Block, you could receive $15,000 in incentives over the next ten years!
If you’ve been wanting to switch to solar power, the time to install your solar panels is now. Again, SMART will officially begin accepting applications at noon on November 26, 2018. (Again, your solar contractor will handle the application process for you.) Applications received after December 1, 2018 will be reviewed and placed into Capacity Blocks on a first come, first served basis.
You still have time to talk to local solar installers about your solar project. As your number one local solar company with 3,700 installations in the state of Massachusetts, Boston Solar is ready to help you understand the benefits of the SMART program and how it can help you offset the cost of solar.
Get more information about SMART and the financial benefits of solar. Call us or contact us to learn more from your local solar and SMART program experts!
Learn more about SMART solar incentives.