Greenfield Solar
Estimated MA Residential Photovoltaic System Costs and Incentives
Depending on your electrical demand, site and financial considerations, Greenfield Solar designs an optimal PV system, submits all permits, incentives and Installs in a timely manner.
|
Residential PV System Size |
13.32 kW Roof |
7.4 kW Roof |
8.88 kW |
7.4 kW 1 Pole |
|
Estimated Annual Electrical Generation |
15,584 kWh |
8,658 kWh |
13,500 kWh |
7,700 kWh |
|
Total Estimated Cost |
$40,660 |
$23,200 |
$41,470 |
$30,400 |
|
FEDERAL tax credit (26% may be rolled over)* |
$10,572 |
$6,032 |
$10,782 |
$7,904 |
|
MA State tax credit (15% up to $1000) |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
|
Net Cost |
$29,088 |
$16,168 |
$29,688 |
$21,496 |
|
Total Annual energy credit |
$3,896 |
$2,165 |
$3,375 |
$1,925 |
|
Simple Payback |
7.5 yrs |
7.5 yrs |
8.8 yrs |
11.4 yrs |
Financing through UMass Five College Credit Union
As part of their commitment to sustainability, UMass Five College Credit Union offers loans up to $75,000 for the installation of residential solar systems. Funds may also be used for tree removal and roof repair. The program does not require homeowners to use their equity to qualify!
The program also has options for commercial businesses and landlords.
MACRS Depreciation
An incentive for commercial solar PV systems, ask your tax accountant to calculate the MACRS 5 year depreciation.
