The state of Massachusetts has become a bastion for going solar in New England — with legislation and incentives continuing to make a solar installation more and more affordable for homeowners and business owners throughout the state.
Here is what North Shore homeowners should know about going solar in 2020, and which incentives and programs you can use to reduce the cost of installing this clean energy technology on your roof or property. The Solarize North Shore Program has been extended! But hurry, discounts exclusive to the North Shore end on May 31st, 2020!
You may already know about the monthly energy savings that solar PV (photovoltaic) panels can provide. Solar can also benefit your local community — by generating your own renewable energy to use in your North Shore home, you are reducing your environmental impact while also reducing the demand on Massachusetts’ electrical infrastructure. For these reasons, there are many incentives available at the local, state, and federal levels to make solar installation as affordable as possible.
The Solarize Mass Plus North Shore program provides exclusive discounts for many energy-saving upgrades you can make to your home, including solar PV. As the official solar PV contractor for the Solarize North Shore program, Boston Solar is able to offer additional and exclusive discounts on your solar PV installation on top of other state and federal incentives, enabling you to maximize your savings on installing solar.
The program has been extended through May! In order to take advantage of this program, your contract must be signed by May 31st. Get started today by filling out this form or giving us a call at 617-858-1645, and Boston Solar will help you get started on your journey to solar with a customized-designed solar PV system for your unique energy needs.
But that’s not all you can save on going solar in North Shore...
The Federal Tax Credit (also known as the Federal Investment Tax Credit) offers significant savings on the overall cost of your solar installation. By installing solar panels on your home, the IRS allows you to take 26% of the total installation costs as a tax credit from your federal tax liability. So, for every $1,000 you spent on installation, you get to save $260 in tax credits! Plus, if your solar tax credit is more than what you owe in taxes, you can roll the remainder over into the next tax year.
The Bay State has also gotten into the game of reducing the financial barrier to solar installation as well, with up to $1,000 off (or 15% of qualifying project costs, whichever is less) on your state taxes. Between the two tax incentives, you could make significant tax savings on going solar and shortening your payback period on your initial solar investment.
Massachusetts also offers energy bill credits through net metering and even monthly payments to North Shore and Salem solar customers via the Solar Massachusetts Renewable Target (SMART) incentive.
Through SMART incentives, you can receive a monthly check for your solar production based on the size of your system and the utility incentive capacity block your project enters. Currently, for National Grid customers in Salem, Swampscott, and Nahant, the SMART program is currently accepting solar projects [in the 5th block out of 8. This means your compensation rate would be approximately $0.26 per kilowatt-hour (kWh) over the next 10 years with most homeowners seeing an average lifetime savings of $8,000.
With net metering, you can receive energy bill credits for the excess renewable energy your solar panels produce each month. At Boston Solar, we have seen some of our customers reduce their energy bills to nearly zero.
If you have heard about the Nahant, Swampscott, and Salem Solarize program and are looking to leverage those potential savings for your solar installation, the Boston Solar team is here to help you get on your way to solar savings. 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 the North Shore.
Want to maximize savings on your solar installation? Take advantage of the Solarize Mass Plus Program here in North Shore, before the end of May! We are now offering virtual appointments! Get started with Boston Solar by calling 617-858-1645 or get in touch here.