The Hub Of Solar Rebate Program
The recent years have seen and experienced a surge in the installation of solar panels all through Massachusetts, especially a rise in investing in solar home energy system. The most explicit reason to all this is the huge market for solar renewable energy credits, the statewide solar rebate program, and the comparatively higher electricity costs in the state. All these factors have together culminated to make Boston, Massachusetts a good financial proposition to put in place the solar panels!
To further aid the growth and impetus of solar power, Boston has launched a program to encourage residents to set up solar photovoltaic systems. The solar rebates in Boston are made possible with the grant of $140,000 from the American Recovery and Reinvestment Act. This Act has licensed the generation of the Energy Efficiency and Conservation Block Grant for residential solar photovoltaic installations. With each Boston applicant authorized to get a maximum permitted solar rebate of $3,000, the program will have sufficient finance to fund roughly about 45 projects in the state.
The solar rebates in Boston have gained a lot of attention from the Government and the Press as well. The Mayor of Boston, Mr. Thomas M. Menino joined hands together with Scott Shear and Katharine Kilbourn, individuals who were recently associated with setting up more than twenty solar panels on the south-facing roof of their farm house (1860s) in Jamaica Plain. The Mayor pointed out that a conventional system would have come at a price tag of $25,000. However the state clean energy credit of $5,000, the federal tax credit of $7,500 and the city's rebate of $3,000 have cut down the initial cost of the installation by 62 percent, which is a substantial figure. The other more important lucrative factor is that, the excess energy generated is sold back to Boston itself.
The solar rebates in Boston has enabled people to achieve their payback within four years which otherwise would have taken five and one half years to be able to receive a return on their investment. Thus the rebate program truly is one of the most cost effective options for the residents of Boston.
The Solar Rebates in Boston provides a considerable figure in the form of rebates to its people. The amount includes:
a) $750/kW regardless of income or home estimates.
b) An extra 4850/kW if the combined household income is less than or equal to 120% of median income OR if home has a moderate value ($300,000-$400,000)
c) Additional $100/kW if solar panels or inverter is manufactured in Massachusetts.
d) 30% Federal tax Credit irrespective of income or home value.
With all the electricity savings, SREC payments and Solar rebate Boston, a 5kW system will be able to pay for itself in less than six years. The SREC payments are a guaranteed flow of income at about $2,000 a year. The culmination of these credit payments and rebates from the State are quite an inspiration and provide the necessary impetus to install solar panels in your beautiful Boston homes!
To further aid the growth and impetus of solar power, Boston has launched a program to encourage residents to set up solar photovoltaic systems. The solar rebates in Boston are made possible with the grant of $140,000 from the American Recovery and Reinvestment Act. This Act has licensed the generation of the Energy Efficiency and Conservation Block Grant for residential solar photovoltaic installations. With each Boston applicant authorized to get a maximum permitted solar rebate of $3,000, the program will have sufficient finance to fund roughly about 45 projects in the state.
The solar rebates in Boston have gained a lot of attention from the Government and the Press as well. The Mayor of Boston, Mr. Thomas M. Menino joined hands together with Scott Shear and Katharine Kilbourn, individuals who were recently associated with setting up more than twenty solar panels on the south-facing roof of their farm house (1860s) in Jamaica Plain. The Mayor pointed out that a conventional system would have come at a price tag of $25,000. However the state clean energy credit of $5,000, the federal tax credit of $7,500 and the city's rebate of $3,000 have cut down the initial cost of the installation by 62 percent, which is a substantial figure. The other more important lucrative factor is that, the excess energy generated is sold back to Boston itself.
The solar rebates in Boston has enabled people to achieve their payback within four years which otherwise would have taken five and one half years to be able to receive a return on their investment. Thus the rebate program truly is one of the most cost effective options for the residents of Boston.
The Solar Rebates in Boston provides a considerable figure in the form of rebates to its people. The amount includes:
a) $750/kW regardless of income or home estimates.
b) An extra 4850/kW if the combined household income is less than or equal to 120% of median income OR if home has a moderate value ($300,000-$400,000)
c) Additional $100/kW if solar panels or inverter is manufactured in Massachusetts.
d) 30% Federal tax Credit irrespective of income or home value.
With all the electricity savings, SREC payments and Solar rebate Boston, a 5kW system will be able to pay for itself in less than six years. The SREC payments are a guaranteed flow of income at about $2,000 a year. The culmination of these credit payments and rebates from the State are quite an inspiration and provide the necessary impetus to install solar panels in your beautiful Boston homes!
