2019 was another great year for us here at Boston Solar, as we helped even more Bay State homeowners harness the energy supplied by the shining sun of the greater Boston Metro area out to Central Mass.
Massachusetts is a great state for going solar as it ranks among the top ten states in solar energy and ranks number one in the country for energy efficiency! With the price of solar declining 36% over the last five years and solar being more efficient than ever before, when you combine this with the financial incentives available for homeowners who choose to go solar, 2020 is shaping up to be the year to go solar here in Massachusetts!
There are still significant incentives at the federal and state levels for solar installation that will reduce your overall costs in 2020, including:
The 2020 Federal Solar Tax Credit
If you have done any research into residential solar energy, perhaps you have heard of the Federal Solar Tax Credit, also known as the Federal Investment Tax Credit (ITC), and are wondering, “Will the solar tax credit still be available in 2020?”
This 2020 federal tax break for installing solar panels provides both business owners and homeowners a financial incentive for investing in renewable energy. As of this year, the solar panel tax credit allows homeowners to claim 26% of their total solar installation costs from their federal tax liability.
How the Federal Tax Credit Works
For example, let’s say your solar installation costs totaled $35,000. The Federal Solar Tax Credit allows you to claim $9,100 from what you owe in federal taxes when you file next April (2021). What’s more, if your tax credit covers more than your tax liability, you can roll the remaining credit over into the next year so that you don’t lose out on the savings.
You can also save up to an additional $1,000 with the Massachusetts Personal Income Tax Credit. This allows for a credit of $1,000, or 15% of qualifying project costs, whichever is less.
Did you know that you can receive actual money, on a monthly basis, for the clean renewable energy that your solar panels produce? The Massachusetts SMART Solar Incentive program does just that. But you’ll need to hurry - the available blocks are filling up!
Net metering is when your utility company gives you a credit on your energy bill for the excess electricity that your solar PV system produces during peak sunlight hours. If you receive your electricity bill from the following companies, you will be able to take advantage of a net metering credit:
If you live in a municipality, you will need to check with the local municipal electricity supplier or municipal light plant to see if they offer net metering in your area.
Programs like Solarize Mass Plus pair homeowners with trusted solar installation contractors, so they can gain access to program-exclusive pricing. This program is your one-stop shop for upgrading to a more energy efficient and environmentally friendly lifestyle, by connecting you to solar installers, energy efficiency heating and cooling contractors, and more. Here are the programs currently available where Boston Solar is the exclusive solar PV installer:
More and more Massachusetts towns are taking a green initiative. Are you ready to join your friends and neighbors in going solar?
With the number of outages that we see each year, many customers ask us, “Why can’t I use my solar panels during a power outage?” or, “If I have a power outage will my solar panels work?”
Any standard, grid-tied solar PV system is required to be connected to a safety mechanism that shuts your system down in the event of an outage. Combining battery storage with your solar installation will keep the lights on during an outage, and allow you to use your free, renewable energy 24 hours a day.
Boston Solar offers two battery storage options: Tesla Powerwall and sonnenBatterie (Sonnen eco and Sonnen ecoLinx)
Not only will you benefit from renewable energy from your battery storage solution but you can also receive additional incentives when you install a solar battery with solar. Solar batteries may qualify for the National Grid Connected Solutions program which pays participating customers twice a year a rate for solar battery usage during peak demand response times. The MA SMART solar program is also eligible for solar plus storage, and qualifying systems could save you an additional $6,000 on the total cost of your system installation. Lastly, as long as your solar battery is charged 100% by your solar panels, your solar battery costs could also qualify for the federal tax credit incentive of 26%.
2020 should be the year you finally go solar with the energy you use in your home or business. Boston Solar is here to work alongside you and your energy goals, and provide a customized solar solution designed to provide decades of energy savings — it all starts with a free quote!
Take advantage of all the solar incentives in 2020 — and learn how you can further save with solar! Call Boston Solar today at 617-858-1645 or contact us for your free solar quote.