Rebates & Incentives
Listing of Rebates, Tax Credits, Grants, Loans and Other Incentives for Installing Renewable Energy in Maine, New Hampshire, and Massachusetts
The availability of federal and state solar rebates combined with historic reductions in equipment costs make solar technology a more affordable investment than ever before for homeowners in Massachusetts, Maine and New Hampshire. Specific rebates vary based on the type of system you are interested in.
At a Glance: Solar Rebates by State/System:
|State||Solar Hot Water||Solar Photovoltaic|
|Maine||30% federal credit||30% federal credit|
|New Hampshire||30% + $1,500 avg||30% + $2,500 max|
|Massachusetts||30% + average $1,500||30% + SREC payments|
Federal Solar Incentives
- Homeowners: 30% uncapped federal tax credit on total system installed cost for solar electricity and solar thermal. No incentive for heat pumps. Expires Dec 31, 2016.
- Businesses: 30% uncapped federal investment tax credit on total system installed cost for solar electricity and solar thermal. No incentive for heat pumps. Expires Dec 31, 2016.
- Businesses: Accelerated depreciation available for solar investments.
- Rural agricultural businesses: May apply for a USDA REAP grant up to 25% of a project’s budget (depending on size).
State-by-State Solar Rebates
- Maine: No state programs for solar energy.
- New Hampshire:
- Residential PV: $0.50/watt up to $2,500
- Residential Solar Hot Water: Average benefit of $1,500 (based on system size)
- Commercial solar projects: Up to $50,000 or 25% system cost, whichever is less
- Residential PV: State income tax credit of $1,000, SRECs (renewable energy credits) available as an income stream
- Residential Solar Hot Water: State income tax credit and state rebate
- Commercial PV: SRECs available as an income stream
Learn More About Solar Rebates
If you’re looking for something to send to your accountant or tax advisor, see DSIRE (Database of State Incentives for Renewables & Efficiency) which has in-depth information and IRS documents for each of the programs mentioned above.