Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, minimizing your regular electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Springfield Homeowners?
Massachusetts homeowners who decide on solar could qualify for reimbursements, special financing, rebates and tax credits. Here are just a few of the area'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: Rebate Program
Website: munihelps.orgIncentive Amount:
Varies by utility
Incentive Type: Loan Program
Website: hged.comIncentive Amount:
Single-Family Homes: $5,000
Owner-Occupied Multi-Family Dwellings: $10,000 (maximum of $5,000 per unit)
Solar: $10,000
Incentive Type: Rebate Program
Website: celd.comIncentive Amount:
$1.20/W
Incentive Type: Rebate Program
Website: masscec.comIncentive Amount:
Base rebate: $100 X number of collectors X SRCC rating (Category D, Mildly Cloudy Day)
Additional $500/system for metering installation
Additional $500/system for participants that have also installed solar PV on the same facility
80%-120% Income-Based Rebate Adder: $125 multiplier in formula (as opposed to $100)
Less than 80% of SMI Income-Based Rebate Adder: $150 multiplier in formula (as opposed to $100)
Non-Profit/Public Entity Adder: $150 in formula (as opposed to $100)
Affordable Housing Adder: $200 in formula (as opposed to $100)
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 Springfield
The more comprehensive your company investigation is, the better your solar system will ultimately work. Make your choice based on the following important considerations.
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. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Springfield
Your solar modules' style will influence how much power you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you need to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By choosing the right components, you can make your system more efficient and convenient to use. Not all solar contractors offer these add-ons, so look for a provider that installs them if it's essential for you.
You can expect to pay about $20,300 on average for a five-kilowatt solar energy system in Springfield. Use the table in this section to get an idea of the amount Springfield solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,198 |
Solar Polycrystalline | $934 |
Thin-Film | $546 |
Solar Battery | $767 |
Solar Home EV Charger | $2,875 |
Financing Solar Energy in Springfield
Solar companies use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), cash payments, solar loans and solar leases. We advise paying with cash or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers that offer two or more payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Springfield.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.0 years |
2 kW | 3.9 years |
5 kW | 9.8 years |
10 kW | 19.6 years |
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Frequently Asked Questions About Solar in Springfield
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Springfield?
Should I expect a boost in my property value after installing solar panels?
What can I do to predict my home's solar potential?
How long is a Springfield solar panel's average lifespan?
What care do my solar panels need, and how often do they need it?
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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