Massachusetts Solar Power
Lighting Up Massachusetts the Solar Way
Massachusetts has not only built its name as the home to Hollywood stars such as Matt Damon and world renowned sports team The Red Sox, but also, it has for the past few years cemented its position as an American state powerhouse, which is gradually becoming energy independent and leading in the quest to fully rely on energy saving technologies. One of the most successful stories in reduction of energy consumption in Massachusetts has been the increased sensitization of the residents to use solar energy through various innovative solar power rebates.
Massachusetts Solar Power
The road to lighting Massachusetts using solar power has not been without its missteps, but the country has soldiered on to achieve an ‘Excellent’ Solar Legislator Score. Presently, Massachusetts has
I. Over 2000 solar power installations
II. 22MW electricity generated
III. Renewable energy portfolio standard that requires all utilities within Massachusetts to source some amount of energy from alternative energy sources such as using solar panels on the roof tops
IV. A national goal to generate 400MW solar electricity by 2020, which she is determined to achieve
To ensure Massachusetts solar power goal is achieved by 2020, the state has steamrolled a nation-wide innovative solar incentive financing system known as solar renewable energy credit/ SREC. SREC entails over ten years guaranteed payment made to you by utility firms for generating amounts of solar electricity.
How Solar Renewable Energy Credit/SREC Works to Boost Massachusetts Solar Power
Using alternative sources of energy such as setting up solar panels on roof tops requires substantial amount of money, which majority of homeowners in Massachusetts do not. What SREC does is that for instance, when a homeowner has a 10KW sized solar system on their rooftop, they generate about 5SRECs each year for every renewable energy generated. When utility firms fail to hit their annual solar electricity generation, they are required to pay about six hundred dollars for each SREC, they are short. The money moves directly to Boston. As a result, most firms opt to pay the homeowner $285 for their SRECs.
Others ways of Enhancing Solar Power generation in Massachusetts
Other than use of rebates and solar renewable energy credits, other methods that are being used in the country to enhance solar power generation includes
I. Net metering; allows homeowners to store their surplus solar energy with utility firm, who then credit the bill during the night during energy consumption
II. Personal tax credit; 15% tax credited off the solar system
III. Property and Sales Tax exemption
IV. Massachusetts solar power rebate program; is a comprehensive nationwide program that makes generation of solar energy much affordable. Nevertheless, the amount of solar rebates that one obtains is determined by
Value of the property
Manufacturer of the solar panels
Size of solar system used
The need to transform Massachusetts into an energy independent country through use of alternative solar energy could never have come at a better time. This has come when the world is grappling with the issues of global warming owing to the ever increasing carbon print and most importantly, when the world prepares to enter an era without oil in the next 50 years. Becoming energy dependent by the next five years through use of solar power ensures Massachusetts remains relevant in the coming new world order!