Why Now is the Perfect Time to Go Solar in Massachusetts
As many public entities and businesses struggle through the current health and economic crisis, we’re excited to share some positive news for those in Massachusetts: new solar incentives are available and better than ever!
The Solar Massachusetts Renewable Target (SMART) program from the state’s Department of Energy Resources (DOER) provides solar incentives for customers of Eversource, National Grid, and Unitil. This feed-in-tariff (FIT) model compensates solar system owners through a monthly utility payment at a fixed rate over 20 years for the solar electricity they provide to the grid.
While capacity for the first phase of the SMART program filled quickly, Massachusetts has made an additional 1,600 MWs available — more than double the previous capacity — with significant changes that benefit both public entities and commercial property owners who make the investment in solar. At a time when many business are faced with strained finances and uncertain futures, Solect is ready with solutions to help those in the commercial & industrial (C&I) sector, government entities, and nonprofits, take advantage of these new solar incentives. Together, we can help improve your bottom line, preserve capital, and save on operating costs so you can spend more where it really matters.
Same Benefits, New Advantages
With increasing pressure around tightening budgets, SMART enables you to predict your electricity costs and receive bankable, long-term incentive payments. Most solar installations operate for 25 years or more so this source of stable income, along with avoided electricity costs, will go far in Powering Your Tomorrow.
Solar Energy is a variable energy source that depends on the sun to create electrical power. The Massachusetts DOER conducted a multi-year study which revealed that battery storage paired with solar energy can provide significant benefits both to residents of the Commonwealth, and to the long-term stability of the power grid that supplies its electricity. Therefore, DOER included additional compensation for pairing solar with energy storage in the SMART program. When batteries are installed along with solar, they can store energy to use later, offsetting peak demand charges and putting you in control. This is a highly beneficial solution for Massachusetts ratepayers who experience some of the highest demand charges in the country, especially those in the Eversource East territory.
Municipalities: Maximize tax dollars to invest in infrastructure and services
Schools: Prioritize staffing, and invest in new programs, materials and technology
Nonprofits: Hire staff, and invest in mission-critical initiatives and other resources
Whether it’s putting solar on your land, roof, or on a canopy over your parking lot — solar carports are eligible for additional incentives — taking advantage of the SMART program now will provide long-term benefits for your organization and community well into the future.
Two Flexible Ways to Profit from your Solar Energy
Whether you have a need for solar electricity on-site, or simply wish to sell it for a profit, SMART now offers you the flexibility to choose.
Behind the Meter System: In this type of installation, solar energy you generate onsite to power your operations. In addition to saving on your electricity costs by buying less from your energy provider, you also receive an incentive payment from your local utility delivered at a fixed rate for 20 years for the solar energy your system produces.
Stand Alone System: Maybe you don't need the power your solar system generates, or have load on-site? In this case, a stand alone system may be best for you. This type of installation isn’t connected to your building’s load, rather it supplies power to the grid. So, you install a solar array on your property, and sell the power back to the utility, which in turn will send you a payment for the kWhs produced each month for 20 years.
SMART incentives greatly improve the economics of solar and energy storage projects for commercial customers. A fixed 20-year tariff rate with an investment-grade credit quality makes projects even easier to finance. But remember, SMART is a declining block program, which means that incentives decrease over time, so early adopters get the best savings. With the federal tax credit also stepping down at the end of 2020, it pays to act fast.
Still have questions? Solect is here to make it easy. During these times, we’re proud to be working with our customers to help them implement cost-saving solutions. There’s no reason to wait. We can answer your questions, quantify your solar + storage potential on your property and design your system completely remotely.
Contact us today to find out how the updated SMART regulations can help POWER YOUR TOMORROW.