Solar Grant Update
The Massachusetts Clean Energy Center announced the revised grant amounts for Block 5 of the Commonwealth Solar II program. Block 5 will begin accepting applications in January 2011, exact date to be announced.
Here is a summary of the changes:
- Base Grant: $0.75 per watt (reduced from $1.00 per watt)
- Moderate Income/Home Value Adder: $0.85 per watt (reduced from $1.00 per watt)
- Massachusetts Made component adder: $0.10 per watt (Unchanged)
A reminder, the moderate income adder applies if the household income is below $95,420 per year (120% of the median household income). The moderate home value adder applies if the home's tax assessed value is below $350,000 for Worcester County or below $400,000 for Middlesex County. You can qualify for the moderate income adder OR the moderate home value adder, but not both.
While the grant amounts have been reduced slightly, SRECs have been trading extremely well since July of this year. Our first customers to sell their SRECs earned more than $0.50 per kWh. At that rate, a typical 5 kilowatt PV system will generate about $3,000 per year in income above the savings on your electric bill.