How Massachusetts Homes Benefit from Solar PanelsJanuary 10, 2024
You might not think about solar panels when imagining Massachusetts. We’ve all heard about how temperamental New England’s weather can be. Yet Massachusetts gets as many as 197 sunny days a year!
This is why it’s considered one of the top states in the nation for solar panels. Why? Because Massachusetts homes greatly benefit from solar panels despite the lack of sun.
Reduces High Living Costs
Massachusetts has an undeniably high cost of living, especially the closer you live to the city. While there are reasons for this, including great healthcare and school systems, the steep prices can be concerning to many homeowners.
Utilities like electricity and heat are major culprits for your high living costs. In fact, Massachusetts residents pay 25% more than the national average residential electricity rate per kilowatt-hour. This is where solar panels can be a great benefit to homeowners. With solar energy reducing your reliance on the grid, your electricity bill will be drastically diminished. Solar power can replace your electricity and power your whole house, so your bills could go down to nearly $0 per month.
You can use solar power to heat your house as well. By installing electric heating, which can in turn be powered by solar energy, you can replace your oil furnaces and reduce the costly heating bills many Massachusetts residents typically endure.
State Solar Rebates and Federal Tax Credits
One of the reasons Massachusetts ranks fifth in the nation for solar power is due to its tax credits. For starters, you have the SMART Program. With this program, the state of Massachusetts pays participating solar panel owners a predictable price every month for their solar system’s energy production.
Massachusetts residents also benefit from the Federal Solar Investment Tax Credit. This allows new solar panel owners to credit 30% of the cost of installing solar panels to their federal income tax. So if you’re looking to install solar panels between now and 2032, you can actually save a significant amount of money.
By combining these two benefits, Massachusetts solar panel owners save an exceptional amount of money.
Increases Home Value
The current housing market is a seller’s paradise, especially in states like Massachusetts. Even small houses are going for a lot of money, so it’s imperative that if you’re looking to sell your house, it needs to have a high value while being worth the price. Solar panels can increase the value of your home by up to 2-3%. This can be exceptionally appealing to homebuyers who wish to live greener lifestyles or who are willing to pay a higher down payment on a house in exchange for lower utility bills.
If you’re a homeowner in Massachusetts, you shouldn’t discount the great benefits solar panels can offer you. From tax credits to lower utility bills to a better sale if you’re choosing to move, they are practically a must for homeowners. If you’re interested in going solar, contact us today for an assessment and to get the installation process started.