Massachusetts homeowners with renewable energy systems will receive 15% coverage of their Venture Solar system against their Massachusetts income tax with a $1,000 maximum credit amount.

The Massachusetts SMART Program makes solar accessible to everyone. The state pays electric Eversource, National Grid, and Unitil customers a fixed rate (from 29 to 31 cents depending on your location and utility) per kilowatt-hour that their solar system produces over 10 years. Incentive rates are higher for lower-income families that install battery storage with their system.

Homeowners who install solar systems are 100% exempt from Massachusetts sales taxes and 100% exempt from property taxes for 20 years. That’s big deal because installing a solar system on your home increases the property value of your home.

Net metering allows you to store energy your panels produce in the electric grid for use at a later date (for example, excess energy produced in July can be used in December), decreasing your electricity bill and putting money back in your pocket.

The federal government offers a tax credit that covers 26% of the cost of your solar energy system. This isn’t a write-off or a deduction, but an actual dollar for dollar credit against your income taxes. You can claim all of this in one year and will come back to you in the form of a larger income tax return. It is a very simple form that you or your tax preparer can file called Form 5695.