When you own your photovoltaic (PV) solar panel system, you receive a number of rebates from both federal and state government. If you lease through large companies like SunRun, Solar City, or Vivint Solar – THEY get these rebates, not you.
The largest and most important incentive you receive with your solar panel installation is a Federal tax rebate of 30% extended through 2019. This is not a deduction; the government refunds you 30% of the cost of your solar panels and installation.
Massachusetts Solar Incentives
- Solar Renewable Energy Credit (SREC-II) which pays YOU to produce solar energy
- By locking in your solar panel interconnection in 2018, you will be receiving SREC-II credits for the next 10 years
- These quarterly payments to you are based on your solar panel system production
- Later in 2018 the SREC-II system will update to a new SMART system which pays less per KWh than the current rate, so act now!
- Up to a maximum of $1,000 Massachusetts state tax credit. This credit is the lesser of:
- 15% of the net expenditure for your solar panel system or
- $1,000
New Hampshire Solar Incentives
- New Hampshire Property Tax Exemption
- If you purchase a home solar system in New Hampshire, you’ll also be exempt from the property tax. The system’s value added to your home when you go solar is subtracted from the assessed value of your property.