Massachusetts is not just a historic state with its revolutionary war history. Neither is it all about its prolific sports champions. The state has come a long way and is making quite remarkable progress. Massachusetts people, especially homeowners in Boston, are embracing the idea of going solar. Solar panels can be seen almost everywhere – thanks to the attractive incentives offered by the Government. The urge to save money has made multiple homeowners switch to solar in Massachusetts.
Massachusetts solar incentives 2022
Below given are some of the most lucrative solar incentives that will compel you to switch to this renewable source of energy:
Massachusetts solar tax credit 2022:
The ITC or Investment Tax Credit enables each homeowner to bring down the PV expenses of the solar energy system by almost 26%. You will be able to lower your overall income tax liability by using solar energy. Make sure you pay for the PV system in cash or take a solar loan.
Solar Massachusetts Renewable Target or SMART Program:
The SMART program incentive is paid directly by the investor-owned electric utility centers in Massachusetts to the solar panel owners. Every residential solar in Massachusetts is allowed to participate for a period of ten years. During this phase, homeowners continue to receive the incentives through electronic mode of payments or checks.
If you produce more than what you consume, then that energy will be sent back to the grid. And in return, you will enjoy credits on your energy bill.
Massachusetts solar tax exemptions
:There’s another major reason for switching home solar energy in Massachusetts. Those homeowners who have residential solar panels in Massachusetts are exempted from paying the property tax and the sales tax. Now, who would ever want to let go of such lucrative tax exemption options?
Mass solar loan program:
This is a new and highly innovative incentive program at the state level. Under this program, homeowners can get hold of a solar PV system by simply making some fixed low-interest loan payments yet. Because of this financing program, solar power in Massachusetts has witnessed a great boom.
Renewable energy income tax credit:
Under this incentive program, the homeowner enjoys a 15% coverage of the entire solar setup expenses against his/her income tax in Massachusetts. The maximum credit amount is up to $1000.
Now that you know about all the attractive incentives offered by the Government in Massachusetts to promote the reliance on solar energy, make a smart move, and bring home an all-new solar energy system. If you are unsure which solar installation company to rely on, feel free to connect with us at Clean Energy Savings USA.
We are the connecting point through which you can reach some of the best solar installation companies across Massachusetts. Overall, these years, we have helped numerous homeowners and solar companies in Massachusetts to connect with each other. To know more about incentives, amenities, and solar panels cost in Massachusetts, call our solar experts who are available round the clock for you.