Commercial Solar Financing Massachusetts

Massachusetts has one of the strongest solar incentive programs in the country.

Commercial solar financing massachusetts. The gw solar institute video rooftop solar financing 101 introduces three common solar financing methods. 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. 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. A ppa affords you the opportunity to install solar power at your facility without paying upfront costs or worrying about system operation and maintenance.

1 a massachusetts homeowner s guide to solar leases loans and ppas introduction pg 2 financing for the residential solar marketplace pg 3 what you need to know about leases ppas and loans pg 5 common terms in solar financing pg9 weighing the benefits of direct ownership versus third party financing pg14 questions to ask pg 23 solar. Take advantage of solar policies and incentives related to commercial photovoltaic solar systems and help reduce your utility costs. Bankfive is dedicated to helping our massachusetts and rhode island neighbors reach their financial goals. More information is also available in a massachusetts homeowner s guide to solar leases loans and ppas.

Between financing and incentives customers are usually cash flow positive in their first year. Solar loans and solar leases each have advantages and disadvantages. Every solar panel system is custom designed. The solar power purchase agreement ppa is an alternative to financing and owning the system.

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. Smart was launched by the. Massachusetts personal income tax credit a credit of 1 000 or 15 percent of qualifying project costs whichever is less. Loans leases and power purchase agreements ppas and briefly explains some of the advantage and disadvantages of each.

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. 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. In addition federal tax credits and low interest solar loans contribute to a positive cash flow. Sometimes referred to as a third party ownership model.