The economics of a rooftop solar energy system works differently for homeowners and businesses depending on where you are in the country. Fortunately for residents of Massachusetts and Rhode Island, the balance between the cost of solar and the cost of continuing to buy all electricity from the utility makes solar power a nearly irresistible solution. One that saves people money from day one and throughout the life of the system.
Solar panel prices and the cost of most of the necessary components are at historical lows. New England area electricity prices are some of the highest in the country. This combination means the solar energy economics pencil out for more homes and businesses than ever before in our region.
Two Primary Considerations For Going Solar
You Have a Solar Suitable Building
Because of federal incentives and programs in Massachusetts and Rhode Island, more homes and buildings are suitable for solar than they might be in other parts of the country.
- Most important is you should have at least approximately
500 square feet of usable roof area, or more.
- That available space ideally is oriented towards the south.
It may be facing somewhat to the west or the east and still work just fine.
- The space should be mostly free of shading each day and
throughout the seasons. If significantly shaded by trees,
trimming or removal should be an option.
You Are Tired of Paying for Electricity
Homeowners paying $100, $150, $200 a month or more on average for their electricity are great candidates for solar power.
- You will be able to offset most or all of that with a solar
energy system, saving you thousands a year.
- In Massachusetts, state incentives add more value to your
production on top of avoiding electricity buying. The
SMART program sets a specific value for your solar power.
- You have Rhode Island grant or tariff options. Choose the
grant to cover your capital costs. The tariff pays for excess
solar energy generated electricity.
To learn more about specific incentives and how they work for you, visit our Home Solar Incentives page.
About the Cost of Solar
To make solar work best for each homeowner, a good solar energy system installer should avoid “standard” designs. In general, a solar energy system is designed for your home to deliver both the best savings and best lifetime performance. This makes simply providing a flat cost misleading. In Massachusetts and Rhode Island most households that go solar will spend between $10,000 and $15,000 after all incentives, rebates, and tax credits. However, that money goes to work immediately, saving you on each monthly bill.
To understand more about your personal costs and options, we recommend you visit our Solar Cost and Solar Financing page.