Wondering about the benefits of going solar in your Massachusetts home? Making the switch is a big decision, but it can be immensely beneficial for your home, your wallet, and the environment.
It’s exciting to see local and federal financial incentives for going solar appear as governments seek to make it easier for Boston-area residents to make the switch to renewable energy. That said, incentive programs always have a bit of a learning curve. Read on to learn everything you need to know about how net metering can work for your Cape Cod home.
What is Net Metering?
For Massachusetts homeowners who are ready to go solar, there are a number of solar incentives. One of the best of these is net metering.
If you’re a National Grid, Eversource or Unitil customer, net metering allows you to gain a credit on your electric bill from the excess electricity your solar panels produce and export back to the grid. When sending your solar generated energy back to the grid, your utility meter will spin backward. When you consume grid-supplied electricity, your meter will spin forwards.
Net Metering and Your Electric Bill
With solar net metering, your utility company tracks the amount of energy you use, and the amount that your solar panels produce and share with the grid:
- If your electric bill is negative:
- Your net energy consumption is less than the amount your solar panels produce, and your utility provider will credit your account.
- Credits never expire so these can be rolled over into future months where you may owe on energy consumed by the grid.
- If your electric bill is positive:
- Your net energy consumption is greater than the amount your solar panels produce, and you will be billed for the energy you used from the grid.
Because seasonal weather is a key consideration in New England, Massachusetts’ net metering policy even permits solar panel users to bank net meter credits in the summer months to apply to wintertime bills when there is less sunlight! Or, if you have a second home or are a seasonal resident, you can bank credits when you are not home to use later.
Are all charges covered by net metering?
There’s one other important aspect of net metering to keep in mind – net metering refers only to the charges related to your energy use. It will not apply to charges related to:
- Any fixed customer charges from your utility company
- Other charges set by your utility provider
What is a Net Metering Cap?
The net metering cap is a limit on the amount of energy that can qualify for credit through net metering and most Massachusetts homeowners are not impacted by any net metering cap for their residential solar. It usually applies to larger-scale energy producers, like commercial properties with solar panels.
The Benefits of Going Solar
We’ve noted the benefits of residential solar throughout this article, now let’s go into greater detail about all the advantages solar offers homeowners in the greater Boston area:
- Rebates, federal and state tax credits, and Massachusetts’ SMART program all overlap to make switching to solar more affordable than ever and deliver impressive return on investment.
- Can you imagine never losing power at your home again? With solar panels powering your home by day and solar batteries to store excess electricity then keep you comfortable at night, you can say goodbye to the unpredictability of Massachusetts’ finicky power grid, even in the winter!
Increase the Value of your Home
- Did you know that solar panels can raise the value of your home by around 4%? Though you might not be planning to move in the next few years, solar panels last for 2 to 3 decades, making solar a smart investment long-term.
Partner with a Trusted Solar Company
Ready to explore solar panels for your home in Cape Cod, the South Shore, or the greater Boston area? There’s never been a better time to invest in renewable energy, and as a trusted solar company, My Generation Energy is here to help as you explore solar energy for your Massachusetts home.
We are proud to bring professionalism, experience, and local knowledge to every project we manage – from new installations to solar maintenance, we’ve got you covered. Check out our website to learn more about common questions we get about going solar, and to learn more about our team.
Explore the possibility of solar for your home. Call or contact us online today.