Solar installations continue to rise here in New England — and in large part because local officials, utility companies, and solar panel manufacturers continue to make solar installation more and more affordable for homeowners and business owners throughout the state.
So what does this mean for homeowners in Needham? The team at Boston Solar has a finger on the pulse of the solar resources available in our corner of the Bay State — here is what you need to know about Needham solar. The Solarize Mass Plus Needham Program has been extended! But hurry, your chance to maximize your solar savings with the Solarize Mass Plus Needham program ends on May 31st, 2020!
The first thing many Needham residents think of when it comes to the benefits of solar PV (photovoltaic) panels are the energy bill savings. But solar benefits the local community in more than one way. Generating renewable energy using a custom-designed system of solar panels will reduce your environmental impact, while also lowering the overall demand on a utility-supplied electrical grid. With these wider solar benefits, local, state, and federal agencies are offering incentives to make solar installation more affordable.
Through Solarize Mass Plus Needham, you can get an exclusive, program-specific discount for installing solar in addition to the local and federal solar incentives eligible to the rest of Massachusetts. The cost of solar PV panels through the Solarize Mass Program is on average 21% less than the statewide average!
As the official solar PV contractor for the Solarize Needham program, you can be assured to receive the maximum savings when you go solar in Needham with Boston Solar. The program has been extended through May! Solar contracts need to be signed by May 31st, 2020 so don’t miss your chance to receive the exclusive solar savings from Solarize Needham By filling out this form or calling us at 617-858-1645.
In addition to the savings from Solarize Mass Plus Needham, one of the more substantial ways to reduce the cost of solar installation is with the Federal Tax Credit (formally known as the Federal Investment Tax Credit). In 2020, this solar tax credit is worth 26% on the costs of going solar, which you can reduce from what you owe in federal taxes. If your solar tax credit is more than what you owe for the year you installed, you can roll the remainder over into the next tax year to ensure you use the full incentive.
Massachusetts is still offering new solar customers a $1,000 tax credit from their state taxes (or 15% of qualifying project costs, whichever is less). Once you start adding up the combined incentive savings from Solarize and the federal and state solar tax credits, you can significantly reduce the net cost of your solar investment.
Not every incentive is an installation cost-reducing measure — through Solar Massachusetts Renewable Target (SMART) incentives, you can receive a monthly check for your solar production, based on the capacity block you signed up for. This can decrease the payback period for your solar installation, and turn it into a cash-positive investment for your home. For Needham residents within the Eversource MA East utility service area, SMART is currently accepting solar projects within the 3rd incentive block out of 8! This means your compensation rate would be at $0.31 per kilowatt-hour (kWh) over the next ten years. While this may not seem like a lot, when you calculate the savings over time, homeowners could see an average SMART payment of $8,000 for their project.
Massachusetts also requires that utility companies offer net metering. Through this electricity exchange program, you can receive an energy bill credit for the excess renewable energy your solar panels produce each month. For Needham residents with Eversource as their utility provider, you would be guaranteed net metering energy bill credits when you install solar panels on your home.
If you have heard about the Solarize Mass Plus Needham program or any of these other lucrative solar incentives, the Boston Solar team is here to pair you with all the resources you need. With over 4,000 installations to date, Boston Solar is the #1 rooftop solar installer based in Massachusetts. When going solar, trust a local solar contractor serving residents and business owners of Needham, MA.
Want to maximize savings on your solar installation? Take advantage of the Solarize Mass Plus Program here in Needham, before May 31st! Get started with Boston Solar by calling 617-858-1645 or get in touch here.