{"id":11793,"date":"2020-01-09T08:35:32","date_gmt":"2020-01-09T13:35:32","guid":{"rendered":"https:\/\/www.greenneedham.org\/blog\/?p=11793"},"modified":"2020-01-12T22:51:36","modified_gmt":"2020-01-13T03:51:36","slug":"why-2020-is-the-year-to-go-solar-in-massachusetts-2","status":"publish","type":"post","link":"https:\/\/www.greenneedham.org\/blog\/2020\/01\/why-2020-is-the-year-to-go-solar-in-massachusetts-2\/","title":{"rendered":"Why 2020 Is the Year to Go Solar in Massachusetts"},"content":{"rendered":"

Blog post by\u00a0Boston Solar<\/a>, the original post can be found\u00a0here.<\/a>\"\"<\/a><\/em><\/p>\n

2019 was another\u00a0great year<\/a>\u00a0for us here at Boston Solar, as we helped even more Bay State homeowners harness the energy supplied by the shining sun of the\u00a0greater Boston Metro area out to the Pioneer Valley<\/a>.<\/p>\n

Massachusetts is a great state for going solar as it ranks among the\u00a0top ten states in solar energy<\/a>\u00a0and ranks number one in the country for\u00a0energy efficiency<\/a>!\u00a0 With the\u00a0price of solar declining 36%<\/a>\u00a0over the last five years and solar being more efficient than ever before, when you combine this with the financial incentives available for homeowners who choose to go solar, 2020 is shaping up to be the year to go solar here in Massachusetts!<\/p>\n

Massachusetts 2020 Solar Tax Credits<\/h3>\n

There are still significant incentives at the federal and state levels for solar installation that will reduce your overall costs in 2020, including:<\/p>\n

The 2020 Federal Solar Tax Credit<\/strong><\/p>\n

If you have done any research into residential solar energy, perhaps you have heard of the Federal Solar Tax Credit, also known as the Federal Investment Tax Credit (ITC), and are wondering, \u201cWill the solar tax credit still be available in 2020?\u201d<\/p>\n

This 2020 federal tax break for installing solar panels provides both business owners and homeowners a financial incentive for investing in renewable energy. As of this year, the solar panel tax credit allows homeowners to\u00a0claim 26%<\/strong>\u00a0of their total solar installation costs from their federal tax liability.<\/p>\n

How the Federal Tax Credit Works<\/strong><\/p>\n

For example, let\u2019s say your solar installation costs totaled $35,000. The Federal Solar Tax Credit allows you to claim $9,100 from what you owe in federal taxes when you file next April (2021). What\u2019s more, if your tax credit covers more than your tax liability, you can roll the remaining credit over into the next year so that you don\u2019t lose out on the savings.<\/p>\n

State Solar Tax Incentives<\/strong><\/p>\n

You can also save up to an additional $1,000 with the Massachusetts Personal Income Tax Credit. This allows for a credit of $1,000, or 15% of qualifying project costs, whichever is less.<\/p>\n

<\/h3>\n

Massachusetts SMART Solar Incentives<\/h3>\n

Did you know that you can receive actual money, on a monthly basis, for the clean renewable energy that your solar panels produce?\u00a0The Massachusetts SMART Solar Incentive<\/a>\u00a0program does just that. But you\u2019ll need to hurry – the available blocks are filling up!<\/p>\n

Net Metering in Massachusetts<\/h3>\n

Net metering<\/a>\u00a0is when your utility company gives you a credit on your energy bill for the excess electricity that your solar PV system produces during peak sunlight hours. If you receive your electricity bill from the following companies, you will be able to take advantage of a net metering credit:<\/p>\n