Are Solar Panels Worth It in Massachusetts?
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- čas přidán 12. 09. 2024
- Massachusetts (especially the Boston metro area) has some of the highest utility electricity prices in the US, which fuels substantial energy cost savings from solar panels.
However, the savings get even sweeter thanks to the state's robust solar incentives. Sam breaks down how much you can expect to save with solar in Massachusetts, and why savings is not the only benefit to focus on.
Learn more and connect with an Energy Advisor at www.solar.com/...
Key moments
00:00
0:47 Electricity prices in Massachusetts
1:09 Electricity prices in Boston
2:57 Grid vs Solar without incentives
3:30 MA solar sales and property tax exemptions
4:09 Solar tax credits in Massachusetts
4:49 Grid vs solar with incentives
5:24 SMART solar program
6:47 SMART battery adders
7:52 Municipal solar rebates in Massachusetts
9:08 Net metering in Massachusetts
10:10 Environmental benefits of solar in Massachusetts
11:00 Hedging against energy inflation
Tem emprego aí para instaladores.
Can you talk about cost of solar loans given today’s high rates? Does it typically work out to the same as what people would pay for their electric bill?
Hey, great question! Yes, solar financing rates are higher than they were during the pandemic. However, there are a wide range of solar loan options from 8- to 25-year terms and combo vs reamortizing structures. So, you have quite a bit of control over your monthly payments and savings by selecting a loan option.
Some folks opt for a shorter term loan with higher payments to reduce their overall interest costs. Others opt for the long term loans with the lower payments to have more immediate bill savings.
Given the average electricity bill in Massachusetts is nearly $200 per month, I'm confident that most homeowners can find a solar loan option with payments lower than their electricity bill.
what about off grid solar in massachusetts and what other all in one systems are code compliant besides the Sol Ark All-in-one.
Hey Jay, I don't have much expertise with off-grid so I don't have a great answer for you. However, I will point out that the SMART incentive (and battery added) are only eligible for grid connected systems, so don't count on those incentives if you are pursuing an off-grid project.
Do the net metering credits cap out or expire?
Hi Kristen, great question! According to Mass.gov "the credits never expire and will roll over to the next billing period." It's also worth noting that net metering lasts for 25 years from the interconnection date of the system.
In Massachusetts, there is no cap for residential systems under 10 kW.
@@solardotcom Our system is over 10 kW. It's 14 I think. Is there a cap? Thanks for the info!
@@kristenkelley7341 It appears the cap was increased to 25 kW for residential systems in August 2022 (link below), but I would double-check with your installer as they should have a better understanding of local rules and regulations.
www.seia.org/news/massachusetts-relaxes-net-metering-caps-residential-solar-major-climate-bill