Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can skip the premium cost of grid-tied power by producing some electricity right where you use it.
- Better energy independence: Photovoltaic systems with battery backups operate through blackouts and emergencies, and you won't have to depend on the power grid for your safety and well-being.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Lynn Homeowners?
Massachusetts homeowners who decide on solar could qualify for rebates, tax credits, reimbursements and special financing. Here are just a few of the region's incentive offerings.
Incentive Type: Property Tax Incentive
Website: in.govIncentive Amount:
Solar energy systems used for heating or cooling: out-of-pocket expenditures by the owner for the components and labor
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
Incentive Type: Personal Tax Credit
Incentive Amount:
15%
Incentive Type: Sales Tax Incentive
Website: mass.govIncentive Amount:
100% exemption
Incentive Type: Industry Recruitment/Support
Incentive Amount:
100% deduction
Incentive Type: Rebate Program
Website: capelightcompact.orgIncentive Amount:
Appliances
Refrigerator and Freezer Recycling: $125
Electric Clothes Dryers: $50
Clothes Washer: $350
Dehumidifiers: $30
Room Air Purifiers: $40
Room Air Conditioner: $40
Heating & Cooling
Oil Heating System: Up to $800
Propane Heating Equipment: Up to $2,300
Oil Water Heater: Up to $400
Propane Water Heater: Up to $800
Heat Pump Water Heater: Up to $600
Central AC/Heat Pump: Up to $250/ton
Mini-Split Heat Pump: Up to $250/ton
Programmable Thermostats: Up to $25
WiFi Thermostat: Up to $100
Solar Domestic Hot Water heater: $500 - $1,500
Home Electronics
Advanced Power Strips: Varies
Home Insulation
Limited Time Enhanced Incentive: 75%
Year-Round Tenant Incentive: 100%
Enhanced Residential Program: 100%
Lighting
LEDs: Varies
Home Energy Assessment: Free
Incentive Type: Loan Program
Website: masssave.comIncentive Amount:
$25,000 ($50,000 for some expanded HEAT offerings)
Incentive Type: Performance-Based Incentive
Website: masmartsolar.comIncentive Amount:
(Base compensation rate + compensation rate adders - greenfield subtractor) * total kWh generated - value of energy generated
Incentive Type: Loan Program
Website: masssolarloan.comIncentive Amount:
Maximum required: $35,000; maximum possible: $60,000
Incentive Type: Rebate Program
Website: masscec.comIncentive Amount:
New GSHP Rebate: $2,000 per ton with adders to eligible applicants
Retrofit Existing GSHP Rebate: varies with installation costs
Incentive Type: Rebate Program
Website: masscec.comIncentive Amount:
Standard Residential:
Pellet Stove: $1,000 - $1,750
Catalytic Woodstove: $750 - $1,250
Non-Catalytic Woodstove: $500-$1,250
Fully Automated Wood Stove: $1,500 - $1,750
Low-Income Residential:
Pellet Stove: $2,500 - $3,250
Catalytic Woodstove: $2,250 - $2,750
Non-Catalytic Woodstove: $2,000-$2,750
Fully Automated Wood Stove: $2,750 - $3,250
Incentive Type: PACE Financing
Incentive Amount:
Financing amount locally determined; 20-year financing term
Incentive Type: Solar Renewable Energy Credit Program
Website: mass.govIncentive Amount:
Varies, depending on market supply and demand
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Lynn
The cost and performance of solar panels often rely on the provider that mounted them. Here are some key items to remember while searching for a solar installer.
The style of solar panels you purchase decides how much energy you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total project price, but they can boost your solar system's performance. Not all solar installers offer these additional features, so look for a contractor that has them if it's essential for you.
Licensing and Training
Massachusetts requires new solar photovoltaic systems in the Commonwealth to be installed by a licensed electrician and new solar water heaters to be installed by a construction supervisor. Further check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Financing Options
Choosing the optimal financing plan will impact your overall solar system cost and potential savings. Common payment options include loans, leases, cash payments, and power purchase agreements. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in certain circumstances. Ask each installer you're evaluating about the payment plans it offers. A staff member can help you determine the most suitable option for your pocketbook.
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Frequently Asked Questions About Solar in Lynn
How much money could I save by going solar in Lynn?
Is solar energy widely available in Lynn?
Will solar panels boost my Lynn home worth?
How long does it take to pay back a solar loan in Lynn?
How can I evaluate my property's solar viability?
Is solar installation a fast job?
What are the signs I shouldn't use a particular solar company for my job?
- Pressuring you into signing a contract
- Dodging questions about warranties, references, cost and the crew's credentials and training
- Inflexible options
- Superficial, rushed site evaluation
- No references or testimonials
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed payments each month.
With both leases and PPAs, you don't own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
