2023 Solar Incentives Guide for Maynard, MA - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Maynard.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Maynard solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Maynard?

Renewable Energy Property Tax Exemption

Incentive Type:
Property Tax Incentive
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

Residential Renewable Energy Income Tax Credit

Incentive Type:
Personal Tax Credit

Renewable Energy Equipment Sales Tax Exemption

Incentive Type:
Sales Tax Incentive
100% exemption

Alternative Energy and Energy Conservation Patent Income Tax Deduction (Personal)

Incentive Type:
Industry Recruitment/Support
100% deduction

Cape Light Compact- Residential Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
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

Solar Massachusetts Renewable Target (SMART) Program

Incentive Type:
Performance-Based Incentive
(Base compensation rate + compensation rate adders - greenfield subtractor) * total kWh generated - value of energy generated

Mass Solar Loan Program

Incentive Type:
Loan Program
Maximum required: $35,000; maximum possible: $60,000

Residential and Small-Scale Ground-Source Heat Pump Rebate Program

Incentive Type:
Rebate Program
New GSHP Rebate: $2,000 per ton with adders to eligible applicants
Retrofit Existing GSHP Rebate: varies with installation costs

Commonwealth Woodstove Change-Out Program

Incentive Type:
Rebate Program
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

Local Option - Energy Revolving Loan Fund

Incentive Type:
PACE Financing
Financing amount locally determined; 20-year financing term

Solar Renewable Energy Certificates (SREC-II)

Incentive Type:
Solar Renewable Energy Credit Program
Varies, depending on market supply and demand

Hudson Light & Power - Photovoltaic Incentive Program

Incentive Type:
Rebate Program
Range 1: $1.00/watt
Range 2: $1.25/watt

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
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.

Source: https://www.dsireusa.org/


Solar incentives mitigate the cost of installing solar panels on your home. This category of financial incentives is in place to encourage more Americans to switch their home over to renewable energy. Different kinds of incentives, like discounts, cash back or credit towards your monthly utility bill, might be available to you. Certain incentives may be handled by the state of Massachusetts, by your utility company or by county or municipality, while other incentives are federal. You might qualify for any of the following types of solar incentives:

  • Rebates: A rebate is a partial refund after the purchase of your solar panels. Rebates could be offered by your local utility company, your state or your county. The cash back that you get from the rebates is normally applied before calculating tax credits.
  • Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the federal government. Tax credits are different from tax deductions.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives are normally handled at the state level. Once your solar system meets the qualification threshold (generally a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you make is generally considered part of your taxable income.
  • Tax Exemptions: These could come in the form of property tax exemptions, which would allow you to exclude the value of your solar system when calculating the taxes you pay on your home. They may also include exemptions on sales tax at the time of purchase.
  • Net Metering: Don't forget to talk to your Maynard utility company about signing a net metering agreement. This allows you to get a credit towards your utility bill every month for the value of excess energy your solar panels generate. You might receive either a dollar-for-dollar credit or a percentage of the value.

Federal Solar Incentives

Federal incentives are the kind of incentives that you are most likely to have some knowledge of. The Federal Solar Investment Tax Credit, or ITC, is likely the best-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of your solar system's cost.

The ITC can be applied to solar systems installed after January 1, 2006 on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost — for panels, equipment, labor and accessories — although that amount may range from 26-30%, depending on the installation date of your solar system. There is no cap on the claim amount.

Curious how the ITC might apply to your specific situation? Reach out to your local Maynard solar panel installer to get more information.

The Inflation Reduction Act, passed in August 2022, added more provisions to the ITC (as well as renaming it to the Clean Energy Credit). Homeowners can now receive a credit equal to 30% of the total costs of solar system installation for projects that began after January 1, 2022 and will be finished by the end of 2032. The percentage will then begin to decrease yearly until the Clean Energy Credit ends in 2035. Starting in 2023, the expansion to the program will also make it easier to get credit for energy storage systems.

More information about the new Inflation Reduction Act can be found here. Your local Maynard solar panel company can answer any questions you have and explain how the new Clean Energy Credit applies to you.

State & Local Solar Incentives

Tax credits, rebates and more can be claimed at multiple levels. In addition to federal solar incentives, there are often state and local ones as well. These incentives may be offered by the Massachusetts government, or by your county or municipality. Some incentives may be available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Maynard

Solar incentives can come from the federal government, the Massachusetts government or your local utility company. The growing number of available solar incentives has contributed to a large increase in solar energy use in the last 15 years. We suggest talking to your local Maynard solar installer to learn more about these incentives and to be sure that you're getting all of the money you can for your solar system.

Best National Provider

SunPower

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  • Most efficient panels on the market
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  • Customer service varies by local dealer

Best Regional Coverage

Momentum Solar

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  • Great warranty coverage
  • Representatives are experts on local policies
  • Concierge service ensures steady communication
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Best Technology

Tesla Energy

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  • Price-match guarantee
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  • Best solar battery on the market
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  • Customer service varies by local dealer

EcoWatch's Maynard, MA Solar Incentives FAQs

How can I learn if I qualify for certain solar incentives?

It's a smart idea to get in touch with your local Maynard solar installer for a better understanding of which incentives your project may qualify for. Generally, solar incentives apply to new solar panel systems installed on a property you own (in the U.S.) within a specified date range. Some incentives, like those offered by the government of Massachusetts, might have other requirements.

If I already have solar panels, can I still claim incentives?

If your solar panels were installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If you installed your system between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Speaking with the company that installed your solar system, or any local Maynard solar installer, can help you learn what incentives you might want to apply for.

What are some of the environmental benefits of switching to solar?

You can reduce your carbon footprint by 200 pounds of CO2 a year when you install solar panels. This adds up to approximately 4,000 pounds in 20 years. Solar is also a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.

Can I receive incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in might vary depending on which incentives you are claiming but typically yes, you can receive multiple types of incentives for your solar project. Get in touch with your solar installer or a local tax professional to be sure you are claiming all of the incentives you qualify for and applying them in the correct order.

Can I use multiple types of renewable energy to power my home?

Yes, you can utilize multiple types of renewable energy to power your home — for example, a combination of wind and solar. You can also use both renewable energy sources and a backup source of non-renewable energy. Make sure that you discuss your proposed plan with your local Maynard solar installation expert, to get an understanding of what will be needed and what kinds of incentives you will or won't qualify for.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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