Massachusetts has a strong track record of promoting in-state solar photovoltaic installations. With the recent introduction of the Massachusetts Solar Carve-Out Program — which requires that an increasing amount of the electricity consumed in the state each year must come from solar — the Commonwealth is expected to further expand its position as a leading solar state.
Massachusetts has an aggressive Renewable Portfolio Standard (RPS). Electricity providers demonstrate compliance with the RPS by purchasing Solar Renewable Energy Credits (SRECs).
An SREC represents the environmental attributes derived from each megawatt hour (MWh) of electricity produced by a solar photovoltaic system:
1 SREC = 1 MWh = 1,000 kWh of solar production.
The Massachusetts SREC Program is overseen by the Massachusetts Department of Energy Resources, which established the Solar Credit Clearinghouse to provide solar system owners with a fixed SREC floor price option.
The Solar Carve-Out Program offers commercial solar system owners the opportunity to generate an incremental revenue stream from their solar power production, in addition to the savings on their electric bill. Alternatively, a number of third-party solar arrangements are available which allow companies to go solar without any capital outlay.
Contact EnterSolar to learn how the Massachusetts Solar Incentives can benefit your business.