Solar Energy in Massachusetts is on the rise. In 2021, it accounted for 20% of the state’s total in-state electricity generation and a major portion of New England’s solar electricity generation. Massachusetts is ranked 8th in the nation for net generation from all solar sources. This article delves into the current status of Solar Energy in Massachusetts and its impact on the residents and businesses of the state.
Solar Energy in Massachusetts: The Stats
Let’s dive into some localized solar statistics specific to Massachusetts. These insights are included in an informational and statistical document released by the Solar Energy Industries Association (SEIA) in March 2022. As of the latest data available:
- Massachusetts ranks 10th in the nation for solar installations, up from 14th in 2020
- 125,219 installations recorded, with a total installed capacity of 3,607.36 MW
- 9,500 jobs created in the solar industry
- Projected to install 1,537.22 MW in the next 5 years
- Enough solar installed to power over 653,000 homes
- A 4% decline in the price of solar over the past 5 years
- 20% of Massachusetts’ electricity is generated by solar power
Net Metering and Renewable Portfolio Standard
One of the main drivers of the Massachusetts solar market is its net metering program, which allows homeowners and businesses to receive credits on their utility bills for any excess solar energy they generate. This program is supported by the state’s renewable portfolio standard, which requires utilities to supply a certain portion of their electricity from renewable sources, including solar energy.
Benefits of Solar Energy in Massachusetts
- Cost-effective: Local incentives, such as net metering, the SMART program, and the Massachusetts State Tax Credit, have made solar energy a cost-effective option for residents and businesses.
- Protects from rising electricity costs: Rooftop solar protects homeowners from rising electricity costs.
- Increases property values: Rooftop solar also raises property values.
- Boosts job economy: The solar industry has boosted the job economy in Massachusetts, creating around 9,500 jobs in the state.
The statistics show that solar energy is growing in Massachusetts, with the state ranking in the top 10 for solar installations across the country. With cost-effective options, the protection of rising electricity costs, and the boost to the job economy, there is no better time to make the switch to solar. If you’re a resident or business owner in Massachusetts, contact us today to learn how you can make the switch to solar energy and take control of your energy usage.
Past Incentives You May Have Heard About
The Solar Renewable Energy Certificate (SREC) Market
Another important component of the Massachusetts solar market was the Solar Renewable Energy Certificate (SREC) market. This market provides a way for solar energy generators to earn additional revenue by selling the credits they earn through their solar installations. The SREC market provides an additional financial incentive for homeowners and businesses to adopt solar energy, which helps to drive further growth in the Massachusetts solar market.
The Solar Massachusetts Renewable Target (SMART) Program
The Massachusetts solar market has seen remarkable growth in recent years, driven by a combination of local incentives and programs designed to promote the adoption of solar energy. The state’s Solar Massachusetts Renewable Target (SMART) program, established in 2018, was a key factor in this growth and has served as a model for other states to follow. The program provided long-term contracts to solar energy generators, ensuring that they receive a stable and predictable revenue stream over time. This helped to reduce the risk associated with solar energy generation and made it a more attractive investment for homeowners and businesses.
The landscape of solar energy in Massachusetts is thriving, with significant progress made in recent years. In 2021 alone, it accounted for 20% of the state’s total in-state electricity generation, cementing its role as a major contributor to New England’s solar electricity generation. Massachusetts proudly claims the 8th spot in the nation for net generation from all solar sources, highlighting its robust solar industry.
This article has provided an in-depth exploration of the current state of solar energy in Massachusetts, shedding light on its impact on the state’s residents and businesses. From key statistics showcasing the state’s solar growth to an overview of vital programs like net metering and the renewable portfolio standard, we’ve unraveled the multifaceted dimensions of solar energy in the Bay State.
Solar Energy in Massachusetts is not just a growing trend; it’s a transformative force. With an increasing number of installations, a strong job market, and an array of incentives, there has never been a more opportune time to embrace solar energy. The benefits are clear: cost-effectiveness, protection from rising electricity costs, increased property values, and a burgeoning job economy.
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Ready to Harness the Power of Solar Energy in Massachusetts?
If you’re a resident or business owner in the state, there’s no better time to make the switch to solar. Take control of your energy usage, reduce costs, and contribute to a more sustainable future. Contact us today to embark on your solar energy journey with Current Energy!