Top 5 Solar Power Incentives For Homeowners In Massachusetts After a 30% tax grant for solar power installation that begun before December 31, 2011, the uptake of solar power solutions in Massachusetts has been increasing drastically. This has seen almost every town and city in this state have solar installation within its boundaries. With great plans in place, it is up to every homeowner to take charge and embrace the sweeping wave while taking advantage of the different incentives on offer to install an alternative renewable source of energy. The benefits that come with solar power solutions are crystal clear but even those are not enough to help overcome the cost required to complete the installation. However, if your only reason for not taking advantage of solar power yet is financial, these incentives from the government and other bodies should help you realize the dream and even make some money from it. 1 Residential renewable energy income tax credit This is one of the simplest and most straightforward tax credits that are available for home owners in Massachusetts. If you’re the owner of a renewable energy system (including solar systems) you will get 15% coverage of the system cost against your MA income. This incentive comes with a $1000 maximum credit amount. 2 Solar Renewable Energy Credits II One of the best incentives in Massachusetts is the SRECs (Solar Renewable Energy Certificates) because homeowners are able to get payments for their solar energy usage which is capped at $486 per Megawatt hour. For a homeowner that runs a 5kW system that has a capacity of generating 5MWh/year, you can make up to $2,500 every year when you sell those SRECs back to the utility company. Other than being able to make money out of this, it also helps these utilities to reach the Renewable Portfolio Standard goals.
1 Net metering Even though there has been a lot of back and forth with regards to net-metering in Massachusetts, there is no doubting that it is a great way of encouraging up take of renewable solar energy solutions. With net-metering, solar powered homeowners are able to enjoy bill credits from their utility for the energy that they send back to the grid. 1 Sales Tax In most states, sales tax might not mean much but for solar homeowners in Massachusetts, you might just find yourself on the lucky end. One of the ways that the state rewards homeowners who are using solar energy is by giving them a 100% tax exemption on sales tax. Even though the amount is not significant, it is a figure that easily adds up overtime and saves you a lot of money recurrently. 1 Property tax Solar users in Massachusetts are also 100% exempt from property tax. Even though the period in which most homes will be exempt from paying property tax is 20 years, that time is enough for you to have made a sufficient amount of your investment back. Solar solutions in Massachusetts will continue to grow with such incentive. While most of them may not be enough to help the homeowner recover all their money back, put together they should allow you to make sufficient recovery and in some cases, you might even make a good amount of money by just being kind to nature. Articles homeowners-in-massachusetts/ Source: http://www.interiordecoratorcourse.com/top-5-solar-power-incentives-for-