Massachusetts Incentives Make it Nearly Free to Install Battery Backup Power
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Did you know that nearly 10% of the entire cost of operating the grid is due to paying for power at the most expensive – and short – peak periods? Peak power usage accounts for nearly $3 billion in expenses every year… and only 1% of the time the grid is operational!
Everyone saves when the grid operates more efficiently.
Massachusetts is now leading in the charge to use battery power to meet these peak grid events using stored, off-peak energy, rather than insanely expensive, ‘peaker’ power plants (which also happen to be the dirtiest of dirty power plants) and the related infrastructure upgrades that support them.
The new program is designed to strategically add storage capacity to the grid, unlocking $2.3 billion in savings for New England ratepayers (see: report).
In essence, what the new program will do is provide a cash incentive for homeowners and businesses that add grid-connected batteries that can be tapped during peak power events.
Details are still emerging, but we expect the incentives to be in the order of $1,000/battery/year, for a minimum of 5 years. Combining this program with the 10-year SMART program storage incentive and the 30% federal tax credit essentially pays for most, if not all, of a battery’s installed costs!
ReVision is one of the only contractors in Massachusetts offering Tesla Powerwall and we are staying on top of the new programs so you can get a powerful, reliable, home backup power as well as doing your part to help reduce cost for all ratepayers.
Funding for residential and commercial energy storage projects will be limited, so get in touch with us ASAP to discuss an installation!