Solar Energy Incentives by Market | Solect

Looking for an incentive to switch to solar energy?
We can help.

Solect focuses on the smart, practical application of solar energy solutions based on your needs as well as specific state and national regulations and incentives. The complex and ever-shifting policy landscape requires constant and in-depth attention. We maintain comprehensive knowledge of existing policies and upcoming changes, so that our experts can help businesses, municipalities, educational institutions, and nonprofit organizations reap the optimal financial benefits of solar power.

Now is the time for businesses and property owners to invest in solar.

Federal and state incentive programs make investing in solar a sound business decision. In addition, 29 states across the U.S. have created Renewable Portfolio Standards (RPS). Adoption of an RPS program requires utilities and other energy providers to procure a set amount of energy from renewable sources. The program acts as a guide for states to create incentives that support their specific RPS goals – and it’s working.

Federal Solar Incentives

With expertise and involvement at the national level, we can help your organization take full advantage of the solar incentives offered by the U.S. federal government, including:

30% federal Investment Tax Credit (ITC), which will remain active at current levels until the end of 2019, then incrementally decline thereafter
Modified Accelerated Cost-Recovery System (MACRS), a five-year depreciation formula which currently includes a 100% bonus tax deduction in year one

Massachusetts Solar Incentives

Massachusetts is on track to meet, or exceed, its greenhouse gas reduction goal of 25% by 2020. Plus, the state’s recent solar incentive program is designed to support an additional 1,600 MW of solar capacity. Let us guide you through all of the Commonwealth’s state solar incentives, currently including:

Solar Renewable Energy Certificates (SRECs)
Net-metering
Upcoming SMART Program, which includes energy storage incentives

Read the latest on Massachusetts solar incentives:

From SRECs to SMART – Massachusetts is Overhauling Its Solar Incentives Program

Net Metering 101

Rhode Island Solar Incentives

Rhode Island’s goal to reduce greenhouse gas emissions – 45% below 1990 levels by 2035, and 80% by 2050 – has bolstered renewable energy policies and we’re deeply familiar with the details of each and every one. The state has instituted several incentive programs to make alternative energy, like solar, economically feasible for businesses and commercial property owners, including:

Read the latest on Rhode Island solar incentives:

Understanding Rhode Island Incentives

Download our Rhode Island Solar Incentive brochure

Connecticut Solar Incentives

Connecticut has a 20% RPS in place for 2020 – with plans to reduce greenhouse gas levels 10% below 1990 levels in the same time. With 265 MW currently installed and plans to install another 902 MW over the next five years, the state is well on its way to achieving these goals. Plus, we can help your organization take advantage of Connecticut’s current solar incentive programs, including:

Read the latest on Connecticut solar incentives:

Solar Incentives in Connecticut

Illinois Solar Incentives

Illinois has adopted an RPS that requires utilities to source 25% of their energy mix from renewable sources by 2025, which is expected to drive development of up to 3,000 MW of new solar energy projects by 2030. We can help your organization benefit from the program’s annual funding of $200 million through the state’s current solar incentive programs, including:

Renewable Energy Credits (RECs) – To help meet the state’s RPS goals, utilities can purchase RECs at a rate of 1.4 REC per 1,000 kWh of energy generated per solar array
Rebate program – Rewards solar system owners based on kW installed, paid upfront in year one
Net-metering – Compensates solar system owners for “net excess” energy production each month

Read the latest on Illinois solar incentives:

Download our Illinois Solar Incentive brochure