Solar power in Haverhill, Massachusetts
National Grid provide an SREC and a net metering program for their solar customers in Haverhill.
National Grid will also pay you for your SRECs. The state of Massachusetts mandates that utilities must source a percentage of their energy from solar power otherwise they are fined. Each Solar Renewable Energy Certificate (SREC) is evidence of 1MWh of solar production.
A typical 5kW system will produce about 6mWh per year and with SRECs valued at about $270, that's $1,350 in your pocket in the first year. SREC
prices, as the fines are slowly lowered, will reduce by about $15 per year however, this will still put about $14,000 in your account over the life of your system.
Haverhill residents and business owners may also use the state tax credit of 15% of total costs up to $1,000.
After subtracting your state tax credit a big part of the remaining costs (26% in 2020) can be claimed as a deduction to federal taxes. The federal solar tax credit may be spread over several years and will always cover the set percentage of costs, no matter how large the system.
Incentives like these are a rare sight to still see and must not be taken for granted - they will surely not get any better than they are now!
Enter your address into the calculator to work out how many panels you need, how long your system will take to pay itself off and what incentives are available!
Net Metering Broken Down
Net metering credits unused solar generation sent to the grid at the retail rate for power. 1kWh sent to the grid cancels out the cost of another drawn from the grid at a later time, and you are only billed or credited for the net of these two amounts.
After covering the cost energy drawn from the grid each kWh is still credited at the retail value and may be carried over indefinitely to future bills. You may elect to have your utility pay you for excess credits.
The average cost of installing residential solar panels in Haverhill,
Massachusetts in 2020 is
$2.78 per watt. The average system size
in the US is 6 kilowatts, which means the average price of a solar system
in Haverhill, MA
is $13,900.
(after claiming 26% tax credit and other rebates)
The 26% federal solar tax credit explained
If you have a federal income tax liability, 26% of the cost of your solar system can be claimed as a deduction to your taxes. This incentive is claimed when you do your taxes. In order to receive the tax credit quicker it's best to do your taxes as soon as possible after installation.
What if my tax liability is less than 26% of my systems costThere is the option to claim this incentive over several years if your tax liability is less than 26% of the system cost.
How much will solar panels on my home save me?
The answer to this question depends on your electricity usage. Generally speaking the greater your power usage the greater the potential savings from installing solar.
The average monthly usage in Massachusetts is only 627kWh per month however, you are most likely using a lot more than this since this average includes condos and small apartments.
The Haverhill solar panel savings calculator below will convert your monthly power spend into power usage (in kWh's) and then work out exactly how many solar panels you need to offset your usage, how much they will cost based on the prices of local solar companies and the amount you will save. Our Massachusetts solar savings calculator can do this because it contains a database of the electric rates charged by City of Marblehead, City of Peabody, Groveland Town of, National Grid (was Massachusetts Electric Co), Rowley Town of, Town of Danvers, Town of Georgetown, Town of Ipswich, Town of Merrimac, Town of Middleton, Eversource (formerly NSTAR)
How much can solar panels save you in Haverhill
What does the cost of a real solar system look like?
Facts about installing a 8.63kW solar system in Haverhill, MA
This system would offset 100% of your energy usage if your typical monthly bill is $219, however your situation may vary so try our Haverhill solar calculator to get a result tailored to you.
$8,584
Net cost of system
1 Year 6 Months
Average payback time
9,733 kWh
Annual power production
4¢/kWh
Levelized cost of solar energy
48¢/kWh
If you don't get solar
Cash flow graph based on cash purchase of this 8.63kW system
Life-time savings on this system over the next 25 years
$133,640
(Prices shown after repayments of capital)
47
Solar companies in Haverhill, MA that provide pricing through the Solar-Estimate marketplace.
Average total cost of solar panel installation in Haverhill
| System Size |
Cash purchase After 26% solar tax credit |
Financed purchase After 26% solar tax credit |
|---|---|---|
| 3kw | $6,460 | $6,977 |
| 4kw | $8,495 | $9,175 |
| 5kw | $10,434 | $11,269 |
| 6kw | $12,343 | $13,331 |
| 7kw | $14,141 | $15,273 |
| 8kw | $15,925 | $17,199 |
| 9kw | $17,582 | $18,989 |
| 10kw | $19,240 | $20,779 |
Find out what system size you need for your home
Going solar in Massachusetts
Check out all of the ways energy providers of Massachusetts can help you be more energy efficient and save money.
The following programs are available:
| Incentive Name | Eligibility | Type |
|---|---|---|
| Residential Renewable Energy Tax Credit | Federal | Personal Tax Credit |
| Residential Renewable Energy Income Tax Credit | State | Personal Tax Credit |
| Transitional SRECII program (expired) | State | SREC II program transitioning to SMART program |
| Renewable Energy Property Tax Exemption | State | Property Tax Incentive |
| Renewable Energy Equipment Sales Tax Exemption | State | Sales Tax Incentive |
| Solar Massachusetts Renewable Target (SMART) Program | State | Rebate Program |
| Municipal Light Plant Solar Rebate | Utility | Rebate Program |
Find your local rebates and incentives
Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.
