For those who experience a disaster like a tornado or hurricane, losses can be heartbreaking. Rebuilding after a disaster not only typically requires a large financial investment, but a share of courage, resilience and determination, too.
Massachusetts is encouraging homeowners whose properties were devastated by last year’s tornados to take advantage of green technologies, products and materials as they rebuild their homes. The state is offering an additional incentive to their already long list of Massachusetts solar rebates that help make it affordable for homeowners to rebuild with solar.
Massachusetts has a broad array of existing solar incentive programs, including a state rebate, utility rebates, property tax and sales tax exemptions, tax credits and payments for the solar electricity that residential photovoltaic (PV) systems generate.
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Residents rebuilding in the wake of the tornadoes can now get an additional $1.00 per-watt rebate for a residential solar system installation. The program is being operated by the Massachusetts Clean Energy Center (MassCEC), as part of the state’s Commonwealth Solar II Rebate Program.
The state’s rebate program is structured in tiers, or “adders,” with a base incentive of $.40 per watt. Homeowners who meet certain low-income requirements may get an additional $.40/watt. Homeowners with moderate home values are eligible for an additional $040/watt. If the solar installation components are produced in Massachusetts, the homeowners get an additional $.05/watt.
Better yet, homeowners rebuilding from the June 1, 2001 tornado get an additional $1.00/watt.
For every megawatt that a home solar system generates, Massachusetts awards homeowners with a Solar Renewable Energy Certificate (SREC). The state also mandates that state public electrical utilities purchase the SRECs. Homeowners are currently making about $550 for each SREC.
Utilities may offer their own solar incentive programs, too. The South Hadley Solar Rebate program, for example, offers a $1.50/watt rebate.
Massachusetts residents who qualify for the maximum state and federal solar rebates alone can save over 66% on the cost of a home solar system. A deeply-discounted PV system that will save you money for years to come may make starting over a bit easier.