Saving You Even More Money on Your Solar Installation
One of the reasons for the growth of solar in the last few years is because of the availability of solar incentives. In addition to the federal tax credit, state and local governments offer grants and rebates to offset the cost of the installation and even provide passive income for a number of years.
Massachusetts has always had some of the best incentives in the country. Now with the SMART program, they are poised to take the lead in making solar even more affordable for every homeowner and company.
What is the SMART Program?
The Solar Massachusetts Renewable Target (SMART) program is a new solar incentive for residential and commercial solar projects in MA. Established by the Massachusetts Division of Energy Resources (DOER), the SMART Program’s goal is to create 1600 MW of new energy production from solar. This program works by creating a consistent incentive structure that is an improvement over the constantly-fluctuating SREC rates.
Details of the SMART Program
One of the unique features of the SMART program is its declining block rate structure. Unlike the SREC program, whose rates went up and down on a regular basis, the available incentives decline the longer the program runs. In other words, the earlier you sign up for this program, the better incentive you will receive.
If you are accepted into the SMART program, you will receive your incentive every month for the length of the program: smaller residential projects receive a 10-year agreement, while larger commercial projects can qualify for a 20-year term.
There are some limitations to the SMART program. The program only applies to new solar installations that are connected to one of the three participating utility companies: Eversource, National Grid, and Unitil. In addition, the program requires successful completion of the SMART program application.
Apply for the SMART Program
The Massachusetts SMART program just launched, taking their first applications at the end of November 2018. To enjoy the best rates from this program, you’ll want to apply soon. Contact Earthlight to talk about how this program will lower your rates on a new solar installation.