Empower Your Savings

Solar Power Savings

Switching to solar energy is one of the best ways to reduce electricity costs and achieve long-term financial savings. Homeowners across the country are seeing significant reductions in their monthly utility bills, with many saving tens of thousands of dollars over the lifetime of their solar panels. By producing your own clean energy, you protect yourself from rising electricity rates and make a smart investment in your home’s value.

Solar Power Savings in Massachusetts

Switching to solar in Massachusetts is one of the smartest financial decisions homeowners can make. With rising electricity rates, generous state and federal incentives, and long-term savings, solar provides both immediate and future financial benefits.

How Much Can You Save with Solar?

Massachusetts homeowners pay some of the highest electricity rates in the country, averaging $150–$200 per month. By switching to solar, homeowners can reduce or even eliminate their electric bills, leading to potential lifetime savings of $30,000 to $80,000 over 25 years.

Example Savings Breakdown:

• Before Solar: $175/month on electricity = $2,100/year

• After Solar: $20/month on connection fees = $240/year

• Total Estimated Savings Over 25 Years: $46,500 - $75,000 (depending on system size and energy usage)

Solar Incentives in Massachusetts

Massachusetts offers some of the best solar incentives in the nation, significantly lowering the cost of installation.

✅ SMART Program (Solar Massachusetts Renewable Target)

• Earn payments for every kilowatt-hour (kWh) of solar energy your system produces for up to 10 years.

✅ Federal Solar Tax Credit (Investment Tax Credit – ITC)

• Claim 30% of the system cost as a federal tax credit, reducing out-of-pocket expenses.

✅ Massachusetts State Tax Credit

• Get up to $1,000 back as a state tax credit when you install solar.

✅ Net Metering

• Earn bill credits for excess electricity sent to the grid, lowering future energy costs.

✅ Mass Save Rebates & Loans

• Access 0% interest HEAT loans for solar battery storage and energy efficiency upgrades.

How Much Does Solar Cost After Incentives?

The typical solar panel system costs $15,000 – $30,000 before incentives. However, with rebates and tax credits:

• $20,000 system cost

  • -$6,000 (30% ITC)

  • -$1,000 MA State Tax Credit

  • Potential SMART Incentives & Net Metering Credits

• Final Cost: $13,000 or less

With financing options available, most homeowners can go solar for zero upfront cost, replacing their electric bill with a lower monthly payment.

Financing Options

✅ Cash Purchase: Best for long-term savings with a full return on investment in 5-7 years. ✅ Solar Loan: Low-interest financing options to spread payments over 10-25 years. ✅ Lease/PPA: No upfront costs, but savings are lower compared to ownership.

Why Go Solar Now?

• Electricity rates are rising annually—locking in fixed solar payments protects against future increases.

• Incentives like the 30% federal tax credit are available now but may decrease over time.

• The SMART Program and Massachusetts incentives are on a limited budget.

See How Much You Can Save

Every home is different, and your savings depend on energy usage, roof space, and available incentives. Upload your electric bill today to receive a customized solar savings report and find out if your home qualifies for zero-down solar.