Brightbox™ Battery makes storing and managing clean affordable solar energy simple and easy.
Massachusetts is consistently ranked among the top 10 solar states,1 and for good reason. Environmentally-friendly policies and leading solar programs help make the Bay State brighter and cleaner while offsetting some of the highest electricity rates in New England.2
|Solar Savings Types||Value of Savings|
|Federal Solar Tax Credit||30% of the final cost of the solar system|
|Residential Renewable Energy Income||25% of total system cost or up to $1,000|
|Massachusetts Solar Renewable Energy Credit (SREC)||Varies depending on market value|
**Customer’s ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a solar system from Sunrun.
Massachusetts is helping households access solar and storage. That’s why its Department of Energy Resources (DOER) established the Solar Massachusetts Renewable Target (SMART) Program.3 Through the program, customers of National Grid, Eversource and Unitil are eligible to earn a monthly rebate on both solar panels and battery storage for 10 years. The rebate amount depends on the size of the system, the value of energy and the amount of funding available. Learn more about Massachusetts' residential solar programs.
SMART has the potential to make Massachusetts a leader in solar and storage.4 Keep in mind that rates will drop as more Massachusetts households install residential solar systems. The earlier you install a home solar system, the more funding will be available to you through the SMART Program. Learn more about our home solar-powered battery.
Net metering is one of Massachusetts’ best solar programs.5 Not only does it offer energy providers a more sustainable source of power, it gives you another chance to save on your energy bill.
Here’s how it works: if your home solar system produces more energy than you need, your utility will buy that surplus energy from you and pay you in the form of energy credits. That way, you can put those credits towards your electricity bill for times when you’ve needed to use energy from the grid. You can expect this to happen at nighttime or on particularly cloudy days. Basically, you can “save” your solar energy for when you need it most. Learn more about net metering.
Massachusetts also offers an income tax credit for home solar systems. The Residential Renewable Energy Income Tax Credit will cover 25% of the cost of a solar system, maxing out at $1,000.6
Homeowners understand the value of property tax exemptions, so it’s good news that Massachusetts is offering a tax exemption for residential solar systems.7 And since purchased solar systems may increase the value of your home by up to $15,000 on average,8 you’ll get even more bang for your buck if you decide to move.
The Renewable Energy Sales Tax Exemption9 is a welcome addition to the incentives available in the Bay State. That means you don’t pay the 6.25% state sales tax when you buy a home solar system and battery.10
In addition to Massachusetts’ solar programs, you’ll be eligible for the federal solar tax credit if you buy your own home solar system outright. The federal solar tax credit gives you a dollar-for-dollar reduction against your federal income tax. The 30% tax credit applies as long as the home solar system,11 including a solar-powered battery purchase,12 is installed by December 31, 2019. The federal solar tax credit is scheduled to drop to 26% in 2020, then 22% in 2021. After 2021, the tax credit for resiential solar ends. Learn more about federal solar programs.
At Sunrun, we understand that everyone's financial situation is different. Whether you want to own your system and your solar tax credits or simplify them with a solar lease for as little as $0 down, we offer a range of flexible financing options—all of which help you claim your slice of Bay State sun.
Join over a quarter million American households who have gone solar with Sunrun. Whenever you’re ready, our solar advisors are here for you. To get started, get your free quote today.
*We recommend contacting a tax professional to most accurately determine the impact of the federal solar tax credit on your taxes.