If you are a nonprofit in the state of Massachusetts, you’ll want to be aware of some very pro-solar incentives as well as some federal benefits that make the switch to clean, renewable solar energy easier than ever before. Let’s take a quick look at a few of the programs available.
A wise investment
As a non-profit you know that being a good steward of your money is a necessity. Investing in solar is a great way to reduce your overall operating expenses and show your supporters that you’re committed to sound investments that maximize their money for the long term.
Incentives and grants abound
- The Investment Tax Credit (ITC) was expanded with the signing of the Inflation Reduction Act of 2022 to benefit nonprofits as well. Nonprofits and other tax-exempt entities—like municipalities and Tribal governments—can now apply for direct pay reimbursement equal to the value of the tax credit.
- Most nonprofits are eligible for net metering. This program allows you to sell any excess energy your panels produce back to the grid, and there’s no sales tax on solar installations in the state so you can reap those savings.
- RECS (Renewable energy certificates) are a solar incentive that allow nonprofits with solar systems to monetize their solar electricity generation. They earn one REC for every megawatt hour or 1,000 kilowatt hours of electricity their facilities generate. These exist because of state requirements called Renewable Energy Portfolio Standards (RPS) that require utility companies to produce a specific percentage of their electricity from renewable sources, and as a result, they need to purchase these RECS to meet the requirement. SRECS aren’t related to net metering, are measured separately, and are based only on your solar system’s generation.
The Massachusetts Renewable Energy Portfolio Standard (RPS) was implemented to help reach its goal of 80 percent carbon-free by 2050. If you have a qualifying system, you can apply for a Class 1 REC and earn credit for the electricity production consumed on-site or delivered to the grid, as well as the positive environmental attributes associated with that production.
All of these could mean big savings on your solar panel installation, and long term savings on your organization’s energy bills.
Alignment in missions
By opting for solar energy, your nonprofit organization can enhance its brand image among stakeholders and reinforce its mission. Embracing solar power allows you to deepen community engagement by incorporating educational initiatives into your solar installation. This showcases your commitment to organizational stability, environmental security, and a sustainable future for the planet.
Explore more of what it takes to go solar in Massachusetts or fill out our solar quote form to get started with solar for your nonprofit today.
