Commercial Solar Financing Massachusetts

Massachusetts personal income tax credit a credit of 1 000 or 15 percent of qualifying project costs whichever is less.

Commercial solar financing massachusetts.

Explore our products and services including checking and savings accounts mortgages home equity loans helocs heat loans solar loans commercial loans small business loans and more. Take advantage of solar policies and incentives related to commercial photovoltaic solar systems and help reduce your utility costs. The gw solar institute video rooftop solar financing 101 introduces three common solar financing methods. Compare solar loans and solar leases on energysage to determine which one is right for you.

Both options reduce your monthly electricity bills and your impact on the environment but the terms and conditions of each type of agreement are different. Between financing and incentives customers are usually cash flow positive in their first year. Sometimes referred to as a third party ownership model. Bankfive is dedicated to helping our massachusetts and rhode island neighbors reach their financial goals.

In addition federal tax credits and low interest solar loans contribute to a positive cash flow. The solar power purchase agreement ppa is an alternative to financing and owning the system. The massachusetts department of energy resources doer and the massachusetts clean energy center masscec have launched the mass solar loan program for massachusetts residents interested in directly owning their solar electric projects. Loans leases and power purchase agreements ppas and briefly explains some of the advantage and disadvantages of each.

Solar massachusetts renewable target smart program a production based incentive that is paid directly by investor owned electric utilities in massachusetts to solar electric system owners. This financing program is a major reason for solar s rising popularity in massachusetts where legislators wanted to incentivize homeowners to get the best value out of their solar panel installation by owning it rather than getting into complex third party ownership agreements. A ppa affords you the opportunity to install solar power at your facility without paying upfront costs or worrying about system operation and maintenance. Smart was launched by the.

Every solar panel system is custom designed. More information is also available in a massachusetts homeowner s guide to solar leases loans and ppas. Massachusetts solar tax exemptions. Our financing specialists have established relationships with respected developers and panel manufacturers and can tailor a financing plan for photovoltaic pv solar systems for your business.