Boston's Solar Situation For Price Savings
 
Viewers across the United States and on our site have told us that their average utility bill in Massachusetts is as high as $300 per month. Luckily there is a silver lining to such high power costs as they significantly increase the potential savings from installing solar panels on your house. Generous federal, state, and utility incentives have made solar more low-cost than ever for Boston residents.

What Eversource solar incentives am I qualified for?

Large solar companies provide net metering and a “SMART” incentive to their solar customers in Boston. The incorporation of these two incentives means solar systems pay for themselves in as little as 4-5 years.

What is net metering and does it affect my investment?

At times your solar system will produce more electricity than what is needed in your home, this excess production is exported to the grid and purchased by large solar companies, net metering requires large solar businesses to credit you at the retail power rate for each kWh your solar system sends them.

What if my solar system exports more energy than I consume?

This is likely to result in sunny months where your energy usage is low. Remaining credit at the end of the month is quietly rolled over to the next bill still at retail value indefinitely.

How does the new SMART program work?

SMART means Solar Massachusetts Renewable Target and is a plan for the state to install 1,600MW of additional solar. The incentive works by forcing utilities to pay credit to their solar customers for every KiloWatt hour of solar generation.

The precise reason amount hasn’t been published yet. However, it has been established that applicants will be able to apply later this year. The incentive works by valuing the power generation at a particular incentive rate subtracted by the retail price. This suggests that if the top tier incentive were to be $0.35/kWh and the rate you pay for energy is $0.12/k Wh. Large solar companies would have you to pay $0.23/kWh for each kWh your solar system produces. You gain these credits alongside your net metering return.

Does Massachusetts offer a state tax credit?

Massachusetts grants a tax credit for 15% of the net cost of your solar system (cost after all other incentives). The incentive is topped out at $1,000.

How much will the federal solar tax credit save me?

The federal solar tax credit is set at 30% of the price of your solar system. To be qualified, you must have a federal income tax liability.

What if I don’t owe 30% of my system cost in taxes?

We have a great article on this subject. However, in short, you can claim the incentive in supplements over up to 10 years.

Curious about solar hard costs vs. soft costs near you, and how that might affect your own solar panel pricing? We here at HahaSmart you will have a look at what we can offer you on the cost of solar panels and cost of solar installations. We will strive to find you the best prices available. Follow the solar experts. Try our price checker tool. It tells you how much solar power you need and how much you can save on your energy bills each month. Please visit our solar blog to find out more about the benefits of going solar.