Ask MTG Questions, MTG Help and MTG Rules ? Answers Archive ...

For Massachusetts residents, the answer is a convincing yes!

Owing to the numerous incentives at both the state and national level to purchase solar panels, there has never been a better time to go green with solar power. Nearly all residential units have the ability to pay for themselves in less than 5 short years.

Currently the sticker price for a five kW solar panel set up is approximately $25,000. This system will give off somewhere around 6,000 kWh of electrical power annually here in Massachusetts and supply about 60 percent of the normal residential home?s electrical energy requirements.

There is a Commonwealth Rebate which will subtract $2,000 off that price. Moreover, if you should live in a moderate home or have a moderate wage, you most likely will receive another $2,000 off. Or in case you were unlucky enough to have your home damaged in last year?s tornadoes, you shall receive an additional five thousand dollars off.

You?ll also be given both federal and state tax credits. Currently the IRS tax credit is currently a massive 30 percent and the state credit is for $1,000. After the rebates and tax credits, you should be able to invest in a 5 kilowatt solar panel array for $16,000, less if you qualify for the moderate income or moderate home value adders. A system of that size in Massachusetts will provide an average of just about 80 dollars worth of electricity monthly yielding a yearly savings of $1,000.

But the long-term earnings come from the sale of your SRECs. One megawatt hour (1,000 kWh) is equivalent to 1 SREC and a 5 kilowatt system should generate about 6,000 kWh yearly. Since the state has compelled the electricity companies to acquire an explicit percentage of their electrical energy via green sources, they will give you around $400 for each of those six SRECs so they can say that you are generating electricity for them. Thus that?s an extra $2,400 in tax-free income right into your bank account every year. So now you can see just how a $16,000 solar panel array can be paid off in slightly less than 5 years as it nets $3,400 annually between electricity savings together with SREC revenue.

Solar panels are also among the best home improvement choices available to the Mass. resident. For a price of $16,000, it should up the value of your own house by $20,000. That happens to be a 125% ROI. Almost all home improvement projects don?t pay for themselves fully. Solar panels not only increase the value of your residence in excess of what they can run you, they are able to make you money every year too. They?re also exempt from property taxes for the next 20 years.

And let us keep in mind the primary reason all of these stimuli exist in the first place ? to save our planet. A 5 kilowatt solar panel array would slash your carbon footprint by about 100 tons of carbon dioxide over 25 years, the equivalent of growing 800 trees. Each year, it is going to stop the equivalent of about 3 tons of coal or 20,000 cubic feet of natural gas from being burned to produce electrical energy.

As you can see from the many stimuli currently in existence that right now absolutely would be the best time for solar energy. The Commonwealth Rebate along with the federal and state tax credits cut down your initial expenditures. And the electricity savings along with the SREC program add significant revenue and boost your home?s resale amount. Furthermore there?s no way to know just how much longer these stimuli will be around. The Commonwealth Rebate has already been reduced once and the federal tax credit has been threatened every year.

Lastly, as this industry grows, increasingly more financing alternatives are becoming available to homeowners, making solar energy affordable for everyone. Without a doubt if you?ve always desired to buy solar panels, there has certainly never been a more rewarding time than right now!

Gary S. Best lives in Massachusetts and spent months investigating the various stimuli and financing alternatives prior to deciding to purchase a 5 kW solar panel system in 2011. He has since created a web site, Mass Solar Info.com, educating residents on the subject of solar energy in Massachusetts and providing them with a means to examine solar installer ratings, easily receive no-cost estimates and save as much as $500 off their own installation.

power rangers jungle fury ufc 139 fight card houston nutt houston nutt peter marshall peter marshall zombie boy