Solar panels in Massachusetts
Own a power plant and save big on electricity.
Installing solar panels will protect your home or business from rising energy costs and boost your home or business’ value, while taking advantage of state and federal incentives.
Start taking ownership of your energy generation by booking a simple consultation with us today!
Did you know – in some states, you can get paid for your solar energy through SRECs!
Rooftop Solar in Massachusetts
The commonwealth of Massachusetts is one of the top states to watch out for when it comes to solar energy growth. According to the U.S Energy Information Administration, in 2023, it ranked 10th in the country for net energy generation from all solar sources and solar provided 24% of the state’s total electricity. Despite these strides though, electricity prices have been on the rise for years. So if you live in Massachusetts, here’s what you’d gain from going solar:
Net Metering
Imagine saving extra energy you generate on sunny summer days and using it to power your home during the winter months or any time your system produces less energy than you need.
With the net metering billing system, every kilowatt-hour of excess energy you contribute to the grid earns you valuable credits. These credits not only offset your electric costs, but also cover both delivery and supply charges for each kilowatt-hour.
This benefits solar energy owners in the form of additional electric savings down the line!
To dive deeper into the benefits of net metering, check out our insightful blog article: What Is Net Metering and Is It Worth It for Solar Owners?
Solar Renewable Energy Certificates (SRECs)
A SREC is a financial incentive that helps homeowners earn money from the sale of extra energy produced by their rooftop panels. They can earn 1 SREC for every 1 MWh or 1000 kWH of electricity their solar system generates.
For example, as a solar system owner in Massachusetts with a system that generates 6 MWh (6,000kWh) in a year and with SRECs selling for about $220, you could earn 6x $220= $1320 per year!
Learn more about SRECs: What Are SRECs and Why Should You Care?
30% Federal Tax Credit
Take advantage of a generous tax credit that allows you to claim 30 percent of your system’s cost, helping you lower your federal income tax return for the year. For instance, if your system costs $20,000, you could receive a tax credit of $6,000. Keep in mind that this tax credit will end after December 31, 2025 so take advantage of it while you still can!
Massachusetts Residential Energy Credit
If you live in Massachusetts and have installed solar panels on your primary residence, you instantly qualify for the Massachusetts Residential Energy Credit. This credit covers 15% off the net expenses for your solar system (or up to $1000 maximum) and is applicable to your state income tax.
Equipment Warranties
Warranties for panels typically cover 25 years and come with power performance warranties! Inverters come with 15-25 year warranties, and our installers guarantee their work and provide roof penetration warranties of 5-10 years.
If you choose a lease agreement versus a purchase agreement, everything is guaranteed for the lifetime of the 25 year lease, including maintenance, insurance and performance (at the cost of lower lifetime savings).
Get a Quote
Take a minute and complete the information below to schedule a discovery call and have a free, no obligation consultation with one of our solar consultants!
Still have questions?
Learn more about Finray Solar — WHO we are, WHAT we do, and WHY.
Or, feel free to Contact Us to ASK A QUESTION. We look forward to speaking with you. And we are excited to help you connect your home to a discounted clean source of electricity!