Residents of Massachusetts are offered a wealth of options for funding the installation of a solar energy system in their homes. State lawmakers have taken an interest in ensuring that renewable energy is, and will remain, a lucrative and ever-growing source of both energy and revenue. The Massachusetts Clean Energy Center uses funds that are collected from all electricity ratepayers in the state to finance grants and rebates for individuals and companies interested in installing renewable energy systems. The goal is to expand the role of renewable energy sources in meeting residential, commercial, industrial, institutional, and municipal energy needs.
Compensation for taxes for residential systems includes a state personal income tax credit up to $1000, state sales tax exemption on the purchase of any solar, wind or geothermal equipment, as well as local property tax exemption. Statewide organizations and utility companies offer rebates and incentives to offset the cost of a new photovoltaic system.