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Massachusetts Solar Power Can Save You Money
Many residents of Massachusetts are not aware how much money is really spent on their home energy use each year. Currently, Massachusetts has the fourth most expensive electricity based on a study done by the Small Business and Entrepreneurship Council. The state’s residents are paying between 16 and 20 cents for electricity and rates are supposed to continue to increase. Residential electricity costs in Massachusetts have doubled since 1990, with a majority of the increase happening after 2004. In addition, in 2006, industrial users in Massachusetts paid more than double the average U.S. rate, compared to 60 percent more in 2005. Only Hawaii has higher industrial rates. One of the primary reasons for this increase in electricity rates in Massachusetts is due to the increased cost of natural gas as Massachusetts is especially dependent on natural gas costs because it powers over 40% of the region’s electricity. When the price of natural gases rises, it directly affects electric rates. Although the price of natural gas has varied in the recent past, the long-term forecast is for high prices.
To help combat this rise in electricity, Massachusetts taken aggressive measures to promote renewable energy throughout the state and also by creating solar incentives to help reduce the cost of solar. Massachusetts adopted a Renewable Portfolio Standard requiring that 15% of all retail electricity sales in the state be from renewable energy by 2020, with an additional 1% each year thereafter. Since part of this requirement must be from MA solar energy, Massachusetts created the Commonwealth Solar program which has provided over $160 million to support renewable energy and investments in solar energy and with federal funds, this amount increases to almost $330 million. As a result of this financial support, solar in MA has really blossomed and now Massachusetts is a national leader in solar installations. Since the implementation of these incentives, Massachusetts has seen year-over-year growth of grid connected PV installations of approximately 171% and as of the end of 2010, more than 2,600 systems were installed across the state providing more than 45 MW of solar power, which is enough to power almost 7,000 homes.
So whether you live in Boston or Springfield and want to go solar, there will be a rebate and/or incentive that will help make MA solar power a reality for you. By investing in Massachusetts solar, Massachusetts residents can not only insulate themselves from spikes and long term increases in their electric bill but they can also substantially lower their electric bill.
Home Solar Financing
While many Massachusetts residents may be excited at the prospect of investing in solar panels for the home, since the average residential solar system can cost between $10,000-$25,000 after rebates and incentives, this may represent too large of an upfront investment for most people. Not too worry…our solar partners recognize this have developed a number of solar financing options to help residents invest in solar power without having to come up with such a large up-front payment. Whether it is a great interest rate on a home equity loan, a solar lease, or a power purchase agreement, there are plenty of options for consumers to consider making solar in Massachusetts a reality. So even if you do not think you can afford the cost of solar up front, make sure you still talk to MA solar companies who educate you on all available solar financing options.
Massachusetts Solar Rebates and Tax Incentives
One of the great facts about solar in Massachusetts is that there are large number of Massachusetts solar rebate programs and Massachusetts financial options that exist to make it easier to afford solar power for your home. Whether you live in Boston, Springfield, Worcester, or on Cape Cod there will be a solar energy rebate and/or incentive that will help make affordable solar a reality for you. There are great rebate and incentive programs available from major Massachusetts Utilities such as NSTAR Electric Company (NSTAR), Western Massachusetts Electric Company (WMECO), and often from MA utilities at the municipal and county level such as Fitchburg Gas and Electric Light Company (FG&ELC), Hull Municipal Light Plant (HMLP), and Nantucket Electric Company (NEC) as well as numerous other electricity providers. Our professional MA solar installers are up to date on all of the applicable MA solar incentives and will help you to save as much money as possible on your solar system installation.
Home Solar Benefits
The benefits of home solar power are numerous, especially when it comes to saving money. Solar panel owners no longer pay utility companies thousands of dollars each year because a home solar system can lower electric bills by 70% or more. And now, with current government rebates and incentives, solar roofs and shingles cost homeowners only about half as much. Many solar companies in MA have fantastic financing programs that can require as little as $0 down. By installing solar you can not only increasing your home value by $20,000-$40,000 but also protect yourself from ever rising electricity costs. In a little as a minute, you can fill out the solar quote request above and begin receiving free estimates from qualified MA solar installers today!
Hiring the right solar energy installer is essential to a hassle-free, efficient home solar installation. A solar system is a large investment, not only for your wallet, but for your property. Make a payment now to ensure large future returns. To ensure that your system runs optimally, you’ll need to hire a certified and experienced solar professional who can guide you through every step of the solar installation process - from low interest finance options to maintenance – and help you avoid the common mistakes that people make when going solar. All of our solar installation partners are highly qualified, Massachusetts solar energy professionals. When you get a quote through Solar-Massachusetts.org, rest assured that you are getting a residential solar quote from reputable and professional solar installers.